Key Quantitative Figures

Standalone Financial Performance (FY 2025-26):

  • Business & Other Income: ₹699.92 lakhs (Previous year: ₹475.04 lakhs)
  • Profit before tax: ₹456.02 lakhs (Previous year: ₹296.10 lakhs)
  • Profit after tax: ₹338.84 lakhs (Previous year: ₹217.43 lakhs)
  • Total Comprehensive Income: ₹351.47 lakhs (Previous year: ₹219.66 lakhs)
  • Earnings per share: ₹2.07 (Previous year: ₹1.29)
  • Deferred tax expense: ₹117.19 lakhs
  • No dividend recommended for the year

Consolidated Financial Performance (FY 2025-26):

  • Total Income: ₹8,217.67 lakhs (Previous year: ₹1,066.07 lakhs)
  • Revenue from Operations: ₹7,542.00 lakhs
  • Profit before tax: ₹3,252.49 lakhs (Previous year: ₹483.15 lakhs)
  • Profit after tax: ₹2,471.59 lakhs (Previous year: ₹269.39 lakhs)
  • Tax expense: ₹780.91 lakhs (including current tax ₹660.00 lakhs)
  • Earnings per share: ₹14.64

Balance Sheet Position (as of 31st March 2026):

Standalone:

  • Total Assets: ₹8,527.16 lakhs
  • Investment Properties: ₹2,970.72 lakhs (new addition)
  • Investments: ₹3,010.05 lakhs (in subsidiary)
  • Loans: ₹511.77 lakhs
  • Cash & Cash Equivalents: ₹427.43 lakhs
  • Equity Share Capital: ₹848.55 lakhs (1,69,71,080 shares of ₹5 each)
  • Reserves and Surplus: ₹7,518.95 lakhs

Consolidated:

  • Total Assets: ₹11,462.14 lakhs
  • Investment Properties: ₹5,391.68 lakhs
  • Inventories: Nil (Previous year: ₹4,633.10 lakhs)
  • Trade Receivables: ₹1,308.41 lakhs
  • Cash & Cash Equivalents: ₹2,401.98 lakhs

Dates of Action

  • Annual General Meeting: Wednesday, 30th September 2026 at 12:30 PM
  • AGM to be conducted through Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Record date for e-voting: 23rd September 2026
  • Remote e-voting period: 26th September 2026 (9:00 AM) to 29th September 2026 (5:00 PM)
  • Board meeting dates during FY 2025-26: 15th April 2025, 30th May 2025, 14th August 2025, 13th November 2025, 12th February 2026

Parties Involved

Board of Directors:

  • Shri. Padamshi L. Soni (Chairman, DIN: 00006463)
  • Shri. Manish P. Soni (Whole Time Director, DIN: 00006485)
  • Shri. Vishal P. Soni (Whole Time Director, DIN: 00006497)
  • Shri. Alok Chowdhury (Independent Director, DIN: 02133472)
  • Late Shri. Satendra Kumar Bhatnagar (Independent Director, ceased on 27.04.2026 due to demise, DIN: 01813940)
  • Mrs. Meena Kapadi (Independent Director, DIN: 08074814)
  • Shri. Nandkumar Anant Chaugule (Additional Independent Director w.e.f. 25.07.2026, DIN: 06793485)

Key Managerial Personnel:

  • Kumar G. Vora (Chief Executive Officer)
  • Amit Bhansali (Chief Financial Officer)
  • Mrs. Neelam Maheshwari (Company Secretary & Compliance Officer)

Auditors:

  • Statutory Auditors: M/s Vora & Associates, Chartered Accountants (Registration No. 111612W)
  • Secretarial Auditor: M/s S.G. & Associates, Practicing Company Secretaries

Subsidiary:

  • Sea-King Club Private Limited (wholly-owned subsidiary)

Other Service Providers:

  • Registrar and Share Transfer Agent: MUFG Intime India Private Limited
  • Bankers: Indian Overseas Bank, AU Small Finance Bank

AGM Agenda Items

Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26 and reports of Directors and Auditors

2. Re-appointment of Mr. Manish P. Soni as Director retiring by rotation

Special Business:

3. Regularization of Mr. Nandkumar Anant Chaugule as Independent Director for 5 years (25th July 2026 to 24th July 2031)

4. Re-appointment of Mr. Manish P. Soni as Whole Time Director for 5 years (1st August 2026 to 31st July 2031) with remuneration of ₹3,00,000 per month for first 3 years

5. Re-appointment of Mr. Vishal P. Soni as Whole Time Director for 5 years (1st August 2026 to 31st July 2031) with remuneration of ₹3,00,000 per month for first 3 years

Director Remuneration Details

  • Padamshi L. Soni: ₹72,00,000 per annum (50% paid from subsidiary)
  • Manish P. Soni: ₹36,00,000 per annum (50% paid from subsidiary)
  • Vishal P. Soni: ₹36,00,000 per annum (50% paid from subsidiary)
  • Independent Directors: Sitting fees of ₹25,000 per meeting plus expenses up to ₹5,000

Shareholding Pattern (as of 31st March 2026)

  • Promoters: 72.81% (12,357,036 shares)
  • Public: 19.44%
  • Other Corporate Bodies: 5.17%
  • NRIs/OCBs: 0.15%
  • Dematerialized shares: 99.70% of paid-up capital
  • Top shareholder: Padamshi L. Soni (58.80% holding)

Operational Highlights

  • Company did not book any property sales during the year due to adverse demand in commercial real estate
  • Earnings primarily from other income including interest income and bad debt recovery
  • Subsidiary company Sea-King Club Private Limited completed construction of residential project at Juhu and booked sales proceeds
  • Future prospects dependent on resumption of real estate development activity and positive market changes

Capital Structure Impact

  • No change in share capital during the year
  • Issued, subscribed and paid-up capital remains at ₹848.55 lakhs (1,69,71,080 equity shares of ₹5 each)
  • No issuance of equity shares with differential voting rights, sweat equity shares, or employee stock options

Corporate Governance Compliance

  • All applicable corporate governance requirements under SEBI LODR Regulations complied with
  • Certificate from practicing company secretary obtained regarding non-disqualification of directors
  • Adequate internal financial controls in place as per auditor's report
  • No material orders passed by regulators/courts impacting going concern status
  • No instances of sexual harassment reported during the year

Related Party Transactions

  • Loans taken/given from/to Prime Property Developers (proprietary firm of Chairman)
  • Loans given to subsidiary company Sea-King Club Private Limited for construction costs
  • Transactions approved by Board and disclosed in Form AOC-2

Auditor's Observations

  • Statutory auditors issued unmodified audit opinion
  • No qualifications or adverse remarks in audit report
  • Secretarial audit report confirms compliance with applicable laws and regulations
  • Internal financial controls found adequate and operating effectively

Other Disclosures

  • Company has not accepted any public deposits
  • No foreign exchange earnings or outgo during the year
  • CSR provisions not applicable as company doesn't meet threshold criteria
  • Vigil mechanism policy in place for directors and employees
  • Whistle blower policy implemented for reporting unethical behavior