AGM Details

The 3rd Annual General Meeting will be held on Thursday, September 24, 2026 at 11:30 a.m. through Video Conferencing/Other Audio-Visual Means. The cut-off date for determining shareholder eligibility is Thursday, September 17, 2026. Remote e-voting period commences from Monday, September 21, 2026 at 9:00 a.m. and ends on Wednesday, September 23, 2026 at 5:00 p.m.

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt the audited financial statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors

2. To consider reappointment of Mr. Rajnikant Indubhai Thakar (DIN: 02644842) who retires by rotation

3. To ratify remuneration of ₹75,000 plus applicable taxes to M/s. M.I. Prajapati & Associates LLP as Cost Auditors for FY 2026-27

Financial Performance Highlights

FY 2025-26 Financial Results:

  • Total Income: ₹12,437.99 lakhs (Previous year: ₹9,046.52 lakhs)
  • Total Expenses: ₹11,019.56 lakhs (Previous year: ₹8,272.37 lakhs)
  • Profit Before Tax: ₹1,418.43 lakhs (Previous year: ₹774.16 lakhs)
  • Tax Expenses: ₹254.54 lakhs (Previous year: ₹110.68 lakhs)
  • Net Profit After Tax: ₹1,163.88 lakhs (Previous year: ₹663.47 lakhs)
  • Earnings Per Share: ₹11.09 (Previous year: ₹7.25)
  • No dividend recommended for FY 2025-26

Capital Structure Changes

During FY 2025-26, the company made following allotments:

  • 13,900 Equity Shares at premium of ₹170 per share via private placement (April 22, 2025)
  • 49,13,910 Bonus Equity Shares in 1:1 ratio (August 11, 2025)
  • 27,07,200 Equity Shares at premium of ₹107 per share through IPO (December 1, 2025)

IPO Details:

  • Successful completion of Initial Public Offering comprising fresh issue of 27,07,200 equity shares and offer for sale of 6,76,800 equity shares
  • Issue price: ₹117 per share (face value ₹10, premium ₹107)
  • Listed on BSE SME Platform on December 3, 2025
  • Authorized Share Capital: ₹22,50,00,000 divided into 2,25,00,000 equity shares of ₹10 each
  • Paid-up Share Capital: ₹12,53,50,200 divided into 1,25,35,020 equity shares of ₹10 each

IPO Proceeds Utilization:

  • Total raised: ₹3,167.42 lakhs
  • Amount utilized: ₹704.25 lakhs
  • Unutilized amount: ₹2,463.17 lakhs
  • No deviation from objects stated in prospectus

Corporate Actions

  • Company listed on BSE SME exchange on December 3, 2025
  • Bonus issue of 49,13,910 shares in 1:1 ratio completed
  • No mergers, acquisitions, or restructuring transactions during the year

Director Changes

  • Mr. Chintan Rajnikant Thakar redesignated as Managing Director (May 8, 2025 to May 9, 2028)
  • Mr. Umeshbhai Kantilal Sheth redesignated as Whole-time Director (May 8, 2025 to May 9, 2028)
  • Mr. Rajnikant Indubhai Thakar redesignated as Executive Director (May 8, 2025 to May 9, 2028)
  • Mr. Ketankumar Mehta redesignated as Non-executive Director (August 14, 2025)
  • Ms. Maheshvari Atri appointed as Additional Director (Non-Executive Independent) effective May 8, 2025 and regularized on May 10, 2025

Key Managerial Personnel Changes

After year end, Ms. Richa Kachhawaha resigned as Company Secretary and Compliance Officer effective June 10, 2026

Ms. Khushboo Yadav appointed as Company Secretary and Compliance Officer effective June 11, 2026

Corporate Social Responsibility

  • CSR expenditure: ₹10.20 lakhs (2% of average net profit of last three years)
  • CSR activities focused on providing healthy and nutritious food to needy and underprivileged people
  • CSR Committee composition: Mr. Chintan Thakar (Chairman), Mr. Umeshbhai Sheth (Member), Mr. Kaushik Mehta (Member)

Auditor Appointments

Statutory Auditors: M/s. Ratan Chandak & Co LLP appointed for 5 years until conclusion of 7th AGM in 2029

Cost Auditors: M/s. M.I. Prajapati & Associates LLP appointed for FY 2026-27 at remuneration of ₹75,000 plus taxes

Secretarial Auditors: M/s. Yati Mittal and Associates

Internal Auditors: M/s. Meghrajsinh Gohil & Co

Board and Committee Meetings

  • Board met 8 times during FY 2025-26
  • Audit Committee met 4 times
  • Stakeholders Relationship Committee met 1 time
  • Nomination and Remuneration Committee met 2 times
  • CSR Committee met 2 times

Related Party Transactions

All related party transactions were on arm's length basis and in ordinary course of business. No material transactions requiring disclosure under Section 188 of Companies Act, 2013.

Shareholding Pattern (as on March 31, 2026)

  • Promoters & Promoter Group: 59.01%
  • Indian Public: 14.06%
  • Banks, Financial Institutions & Insurance Companies/Mutual Funds: 4.97%
  • Bodies Corporate: 1.91%
  • HUF: 13.12%
  • 100% shares in dematerialized form

Contingent Liabilities

  • Income tax demand of ₹126.32 lakhs for Assessment Year 2023-24 under dispute
  • Appeal filed with Commissioner of Income-tax (Appeals)

Other Significant Disclosures

  • Company maintains vigil mechanism and whistle blower policy
  • No complaints received under Sexual Harassment of Women at Workplace Act, 2013
  • No fraud reported by auditors during the year
  • Company has adequate internal financial controls system
  • Secretarial audit report contains no qualifications or adverse remarks