Financial Performance Highlights

FY 2025-2026 Financial Results (vs. FY 2024-2025):

  • Revenue from Operations: ₹256.21 crore (₹208.17 crore in previous year) - 23.07% increase
  • Other Income: ₹3.34 crore (₹1.77 crore in previous year)
  • Total Revenue: ₹259.55 crore (₹209.94 crore in previous year)
  • Total Expenses: ₹233.28 crore (₹187.42 crore in previous year)
  • Profit Before Tax & Exceptional Items: ₹26.27 crore (₹22.52 crore in previous year)
  • Exceptional Items: ₹0.01 crore (₹0.66 crore in previous year)
  • Profit Before Tax: ₹26.25 crore (₹21.86 crore in previous year)
  • Current Tax: ₹6.95 crore (₹6.06 crore in previous year)
  • Short/Excess Provision of Taxation: ₹0.08 crore (₹0.01 crore in previous year)
  • Deferred Tax: ₹(0.12) crore (₹(0.33) crore in previous year)
  • Profit After Tax: ₹19.34 crore (₹16.12 crore in previous year) - 20% increase
  • Net Profit: ₹19.34 crore (₹16.12 crore in previous year)

Key Financial Position as at March 31, 2026:

  • Total Assets: ₹361.64 crore (₹249.14 crore previous year)
  • Share Capital: ₹63.88 crore (₹53.23 crore previous year)
  • Reserves: ₹105.41 crore (₹57.15 crore previous year)
  • Total Borrowings: ₹215.87 crore (₹189.37 crore previous year)

Dividend Declaration

  • Recommended dividend of 0.60% i.e., ₹0.006 for every equity share of face value ₹1 each
  • Total dividend amount: ₹38,32,736.16 on 63,87,89,360 equity shares
  • Dividend to be paid to members on the Register as of September 21, 2026
  • TDS will be applicable as per Income Tax Act provisions

Annual General Meeting Details

  • 16th Annual General Meeting to be held on Monday, September 28, 2026 at 2:30 PM IST
  • Meeting to be conducted through Video Conference/Other Audio Visual Means
  • Deemed venue: Registered Office at 104, Shubhagan CHS LTD., Jawahar Nagar Near, Railway Crossing, Goregaon (West), Mumbai - 400062
  • Register of members will remain closed from September 22, 2026 to September 28, 2026

Agenda Items for AGM

Ordinary Business:

1. Adoption of financial statements for year ended March 31, 2026

2. Declaration of dividend

3. Re-appointment of Ms. Shivani Amit Mishra (DIN: 09093100) who retires by rotation

Special Business:

4. Increase in borrowing power up to ₹1,000 crore (Special Resolution)

5. Creation of security on properties of the company in favor of lenders (Special Resolution)

Capital Structure Changes

  • Company allotted 1,06,46,489 equity shares of face value ₹10 each at issue price of ₹37.50 per share on rights basis
  • Ratio: 1 equity share for every 5 equity shares held by shareholders
  • Sub-division of equity shares from ₹10 face value to ₹1 face value approved
  • Authorized Share Capital: ₹75,00,00,000 divided into 75,00,00,000 equity shares of ₹1 each
  • Paid-up Share Capital as of March 31, 2026: ₹63,87,89,360

Board and Management Changes

  • Ms. Vanita Bhua (DIN: 08164809) resigned as Non-Executive Director effective July 7, 2025
  • Ms. Reshma Wadkar (DIN: 09394615) appointed as Non-Executive Independent Director effective July 14, 2025
  • Mr. Shreeprakash Deonarain Singh's designation changed from Non-Executive Director to Executive Director effective November 14, 2025

Key Management Personnel

  • Mr. Amit Mishra - Managing Director
  • Mr. Bharatkumar Parmar - Whole-Time Director
  • Mr. Shreeprakash Singh - Executive Director
  • Ms. Shivani Mishra - Executive Director
  • Mr. Danish Salmani - Chief Financial Officer
  • Mr. Amrit Suthar - Company Secretary & Compliance Officer

Auditors

  • Statutory Auditors: M/s. Bhuwania & Agrawal Associates, Chartered Accountants (Registration No. 101483W)
  • Secretarial Auditors: M/s. BMB & Associates, Company Secretaries

Principal Bankers

  • Bank of Maharashtra
  • Kotak Mahindra Bank
  • AU Small Finance Bank
  • Indusind Bank

Registrar & Transfer Agent

Bigshare Services Private Limited, Pinnacle Business Park, Office No S6-2, 6th Floor, Mahakali Caves Rd., Next to Ahura Centre, Andheri East, Mumbai - 400093

Credit Rating

  • Acuite Ratings: Short Term - ACUITE A3+, Long Term - ACUITE BBB (as of July 3, 2026)

Operational Highlights

  • Company completed several infrastructure projects for Indian Railways including Road Over Bridges (ROBs), Foot Over Bridges (FOBs), station infrastructure
  • Healthy order book providing strong revenue visibility
  • Focus on railway and urban infrastructure projects
  • 34 employees as of March 31, 2026 including 4 directors

Corporate Governance

  • Compliance with SEBI Listing Regulations and Companies Act, 2013 requirements
  • All applicable Secretarial Standards (SS-1 and SS-2) complied with
  • Various committees constituted: Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, CSR Committee

Related Party Transactions

  • All related party transactions were on arm's length basis and in ordinary course of business
  • No material individual transactions with potential conflict of interest

CSR Activities

  • CSR expenditure of ₹31.14 lakhs against obligation of ₹31.13 lakhs
  • No surplus or shortfall carried forward

Litigations and Contingencies

  • Sales tax demand of ₹57.89 lakhs for FY 2016-17 (appeal pending)
  • GST demands totaling approximately ₹14.73 crore for various years (appeals filed/pending)
  • Bank guarantees of ₹48.60 crore given to various authorities
  • Insurance bonds of ₹24.75 crore given to various authorities

Internal Financial Controls

  • Adequate internal financial controls in place
  • No reportable material weaknesses observed
  • Risk management framework implemented

Industry Outlook

  • Positive outlook for infrastructure sector in India
  • Government focus on infrastructure development with increased capital outlay
  • Strong demand projected in railways, roads, urban infrastructure