Nature of the Disclosure

Regulatory filing pursuant to Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, submitting the Annual Report for FY 2025-26 and containing the Notice of the 36th Annual General Meeting (AGM).

Key Quantitative Figures

  • Total Revenue: ₹24,076.43 Lakhs (FY 2025-26) vs. ₹24,084.81 Lakhs (FY 2024-25)
  • Profit Before Tax (PBT): ₹1,091.70 Lakhs (FY 2025-26) vs. ₹1,214.54 Lakhs (FY 2024-25)
  • Profit After Tax (PAT): ₹818.41 Lakhs (FY 2025-26) vs. ₹899.51 Lakhs (FY 2024-25)
  • Total Comprehensive Income: ₹833.90 Lakhs (FY 2025-26) vs. ₹894.46 Lakhs (FY 2024-25)
  • Proposed Final Dividend: ₹1.50 per equity share (15% on face value of ₹10), amounting to ₹45.60 Lakhs (gross)
  • Segment Revenue (FY 2025-26): Hand Gloves: ₹12,691.72 Lakhs; Garments: ₹8,969.39 Lakhs; Power Generation: ₹30.24 Lakhs; Others: ₹2,351.26 Lakhs
  • Segment Profit/(Loss) (FY 2025-26): Hand Gloves: ₹1,426.99 Lakhs; Garments: ₹486.34 Lakhs; Power Generation: (₹20.58 Lakhs); Others: ₹62.35 Lakhs
  • Paid-up Capital: ₹304 Lakhs (30,40,000 equity shares of ₹10 each fully paid)
  • Transfer to General Reserve: ₹500 Lakhs proposed
  • CSR Obligation for FY 2025-26: ₹23.84 Lakhs; Amount Spent: ₹23.85 Lakhs

Dates of Action

  • AGM Date: Wednesday, September 16, 2026 at 11:30 AM
  • AGM Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Record Date for Dividend: Wednesday, September 9, 2026
  • Book Closure Date: Thursday, September 10, 2026 to Wednesday, September 16, 2026 (both days inclusive)
  • Remote e-Voting Period: Saturday, September 12, 2026 at 09:00 AM to Tuesday, September 15, 2026 at 05:00 PM
  • Last Date for Shareholder Query Submission: Friday, September 11, 2026

Parties Involved

  • Stock Exchanges: BSE Ltd., The Calcutta Stock Exchange Ltd.
  • Registrar & Share Transfer Agent (RTA): S. K. Infosolutions Pvt. Ltd.
  • Statutory Auditors: SRB & Associates, Chartered Accountants (Firm Reg. No. 310009E)
  • Secretarial Auditor: M/s Rekha Goenka & Associates, Practising Company Secretary
  • Scrutinizer for e-Voting: Ms. Rekha Goenka, Practicing Company Secretary (FCS-12590)
  • Bankers: State Bank of India

Board of Directors (as of March 31, 2026)

  • Managing Director: Mr. Shri Krishan Saraf (DIN:00128999)
  • Whole-Time Directors: Mr. Deo Kishan Saraf (DIN:00128804), Mr. Abhishek Saraf (DIN:00129144)
  • Non-Executive Non-Independent Director: Mrs. Rashi Saraf
  • Non-Executive Independent Directors: Mr. Rajarshi Ghosh (DIN:05270177), Mr. Shankar Lal Bajaj (DIN:00619282), Mr. Mukul Banerjee (tenure ended May 29, 2026), Mr. Jadav Lal Mukherjee (tenure ended May 29, 2026)
  • Additional Directors (proposed as Independent): Mr. Tushar Jhunjhunwala (DIN:00025078), Mr. Amitava Mazumder (DIN:06441635) (both appointed July 14, 2026)

Key Managerial Personnel (KMP)

  • Chief Financial Officer (CFO): Mr. Bishnu Kumar Kesan
  • Company Secretary & Compliance Officer: Ms. Sneha Gupta (Appointed w.e.f. August 13, 2025; M.No.: A74327); Predecessor: Ms. Paulami Mukherjee (resigned June 17, 2025)

Business and Operational Highlights

  • The company's main activity is the production and export of Industrial Safety Gloves, with diversification into leather/cotton/synthetic gloves, industrial safety garments, children's garments, safety shoes, helmets, and safety belts.
  • Four operating segments: Hand Gloves, Garments, Power Generation (wind mills), and Others (non-conventional industrial safety gears).
  • Initiated trial production of Personal Protective Equipment (PPE) in Falta Sector III. Expansion plans are underway in Banipur Integrated Textile Park and Jhautala Factory. Commercial production of helmets has started.
  • The company was allotted 5000 Sq. m. area in Kolkata Leather Complex for Leather Goods & Allied Industries.
  • Evaluating the feasibility of continuing Wind Power Generation as the windmill life is near expiration.
  • Corporate Identification Number (CIN) changed from L01113WB1990PLC050020 to L32902WB1990PLC050020 effective December 30, 2025, following an alteration in the Main Object Clause of the Memorandum of Association.

Dividend and Capital Structure

  • Dividend of ₹1.50 per share recommended for FY 2025-26. If declared, will be paid within 30 days of the AGM.
  • Dividend will be subject to TDS under the Income Tax Act, 2025. Shareholders are requested to update PAN, residential status, and bank details with their Depository Participants or the RTA.
  • Unclaimed dividend for FY 2017-18 (₹0.60 Lakhs) was transferred to the Investor Education and Protection Fund (IEPF) during the year.
  • Unclaimed dividend for FY 2018-19 will become due for transfer to IEPF on October 24, 2026.
  • No shares were issued or allotted during the year. The issued capital is ₹352 Lakhs, and the paid-up capital is ₹304 Lakhs.

AGM Business

Ordinary Business:

1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026.

2. Declaration of final dividend of ₹1.50 per equity share.

3. Re-appointment of Mr. Deo Kishan Saraf (DIN:00128804), who retires by rotation.

Special Business:

4. Re-appointment of Mr. Rajarshi Ghosh (DIN:05270177) as Non-Executive Independent Director for a second term (June 30, 2026 to June 29, 2031).

5. Re-appointment of Mr. Shankar Lal Bajaj (DIN:00619282) as Non-Executive Independent Director for a second term (September 25, 2026 to September 24, 2031).

6. Appointment of Mr. Tushar Jhunjhunwala (DIN:00025078) as Non-Executive Independent Director (July 14, 2026 to July 13, 2031).

7. Appointment of Mr. Amitava Mazumder (DIN:06441635) as Non-Executive Independent Director (July 14, 2026 to July 13, 2031).

Regulatory and Compliance Information

  • The AGM is being held through VC/OAVM in compliance with MCA General Circular No. 03/2025 and SEBI Circular dated October 3, 2024.
  • The deemed venue for the AGM is the Registered Office at "Ecostation", Block-BP, Plot No.7, Sector V, 5th Floor, Suit No. 504, Salt Lake, Kolkata-700091.
  • Physical attendance of members is dispensed with; the facility for appointment of proxies is not available.
  • Shareholders holding shares in physical form are restricted from transferring them and are urged to dematerialize their shares.
  • The company has complied with all applicable provisions of the Companies Act, 2013 and SEBI LODR Regulations, 2015, as confirmed by the Secretarial Audit Report (Annexure-I).
  • There were no significant material orders passed by regulators or courts impacting the going concern status.

Financial and Liquidity Position

  • Current Ratio: 1.71 (FY 2025-26) vs. 1.57 (FY 2024-25)
  • Debt-Equity Ratio: 0.74 (FY 2025-26) vs. 0.67 (FY 2024-25)
  • Borrowings (Secured): ₹7,070.26 Lakhs (Current) + ₹1,248.22 Lakhs (Non-current) = ₹8,318.48 Lakhs
  • Cash & Cash Equivalents: ₹18.57 Lakhs
  • Other Bank Balances: ₹41.56 Lakhs
  • Inventories: ₹9,601.12 Lakhs
  • Trade Receivables: ₹2,943.94 Lakhs
  • Credit Rating (ICRA, April 2026): Long-Term Fund Based Facilities: [ICRA] BBB (Stable); Long-Term & Short-Term Non-Fund Based Facilities: [ICRA]BBB (Stable)/ [ICRA]A3+; Short-Term Non-Fund Based Facilities: [ICRA]A3+

Related Party Transactions

  • Material transactions with related party 'Acme Safety Wears Limited' amounting to ₹3,609.35 Lakhs (sales/purchases of goods/materials and services) were conducted at arm's length and approved by the Board on May 28, 2025.
  • Details of transactions with related parties are provided in Form AOC-2 (Annexure-II) and the notes to financial statements.

Corporate Governance

  • The Corporate Governance Report is provided as per Schedule V of SEBI LODR Regulations, 2015 (Annexure-III).
  • The company has established vigil mechanisms (Whistle Blower Policy) and an Internal Complaints Committee under the Sexual Harassment Act. No complaints were received during the year.
  • The company has adequate internal financial controls systems, which were operating effectively during the year.

Other Disclosures

  • Employee Strength: 131 employees as of March 31, 2026.
  • CSR Spending: ₹23.85 Lakhs spent against an obligation of ₹23.84 Lakhs for FY 2025-26.
  • Foreign Exchange Earnings: ₹13,901.58 Lakhs (FOB basis)
  • Foreign Exchange Outgo: ₹2,110.22 Lakhs