Key Quantitative Figures

  • Net Loss for FY26: ₹(4.16) lakhs (compared to profit of ₹149.06 lakhs in FY25)
  • Revenue from Continuing Operations: ₹1,209.61 lakhs (down from ₹1,710.33 lakhs in FY25)
  • Loss from Continuing Operations: ₹(178.06) lakhs (compared to profit of ₹81.29 lakhs in FY25)
  • Profit from Discontinued Operations: ₹212.54 lakhs (compared to ₹54.82 lakhs in FY25)
  • Accumulated Losses: ₹(2,609.45) lakhs carried to balance sheet
  • Related Party Transaction Limits Proposed:
  • Premier Spintex Private Limited: ₹10.00 crores
  • Sun Insulators Private Limited: ₹5.00 crores
  • Vijay Stationeries Private Limited: ₹2.50 crores
  • Preference Dividend Recommended: 0.01% on Non-Convertible Non-Cumulative Redeemable Preference Shares
  • Equity Share Capital: ₹459.32 lakhs (45,93,200 shares of ₹10 each)
  • Preference Share Capital: ₹95.00 lakhs (9,50,000 shares of ₹100 each)

Dates of Action

  • AGM Date: Monday, 28th September, 2026 at 11:00 AM
  • Record Date: 21st September, 2026 for e-voting eligibility
  • Register Closure: 22nd to 28th September, 2026 (both days inclusive)
  • Remote e-voting Period: 25th September (9:00 AM) to 27th September (5:00 PM), 2026

Parties Involved

  • Statutory Auditor Proposed: M/s. A H Mandaliya & Associates, Chartered Accountants (FRN 146705W) for 5-year term
  • Related Parties: Premier Spintex Private Limited, Sun Insulators Private Limited, Vijay Stationeries Private Limited
  • Scrutinizer: M/s. Jigar Trivedi & Co., Company Secretaries
  • e-Voting Agency: MUFG Intime India Private Limited

Business Operations Update

The company discontinued its manufacturing operations of cotton yarn with effect from 8th November, 2023 and is presently engaged in trading activities. The spinning plant for manufacturing cotton yarn remains non-operational.

Capital Structure Impact

No change in capital structure during the financial year. The authorized capital remains ₹30.00 crores divided into 1,00,00,000 equity shares of ₹10 each and 20,00,000 preference shares of ₹100 each.

Cash Flow Implications

  • Dividend payout on preference shares if approved (amount not quantified in disclosure)
  • Related party transactions up to ₹17.50 crores proposed for FY27
  • No major capex or investment plans disclosed

Governance Matters

  • Mr. Sunny Sunil Singhi (DIN: 07210706) retires by rotation and seeks re-appointment
  • Board met 6 times during FY26, with all directors having good attendance
  • Independent directors met on 14th February, 2026
  • Company has adequate internal financial controls as per auditor's report

Financial Statements

The audited financial statements for FY26 show:

  • Negative reserves of ₹(2,609.45) lakhs
  • Non-current borrowings of ₹438.07 lakhs (preference shares)
  • Current borrowings of ₹154.51 lakhs
  • Trade receivables of ₹160.57 lakhs
  • Cash and cash equivalents of ₹4.42 lakhs

The auditors' report does not contain any qualifications or adverse remarks.

Additional Information

  • The company does not fall under the purview of corporate governance provisions as per Regulation 15 of SEBI LODR due to size
  • No corporate social responsibility initiatives as not applicable under Section 135 of Companies Act
  • No frauds reported during the financial year
  • No material orders passed by regulators/courts impacting going concern status