Key Financial Figures (Standalone)

  • Revenue from Operations: ₹1,203.73 lakh (FY25: ₹1,749.70 lakh)
  • Other Income: ₹3.53 lakh (FY25: ₹0.94 lakh)
  • Total Revenue: ₹1,207.26 lakh (FY25: ₹1,750.64 lakh)
  • Profit/(Loss) before Tax: ₹(1.63) lakh (FY25: ₹(116.02) lakh)
  • Current Tax: ₹0.75 lakh (FY25: ₹0.00 lakh)
  • Profit/(Loss) after Tax: ₹(2.38) lakh (FY25: ₹(116.02) lakh)
  • Total Comprehensive Income: ₹(1.98) lakh (FY25: ₹(115.58) lakh)
  • Basic/Diluted EPS: ₹(0.02) (FY25: ₹(1.17))
  • Paid-up Share Capital: ₹991.15 lakh (99,11,500 equity shares of ₹10 each)

Segment-wise Performance (Revenue)

  • Industrial Packaging: ₹1,120.90 lakh (93.1% of total)
  • Agriculture and Plant Protection: ₹20.88 lakh (1.7% of total)
  • Smokeless Chulha and Ecostove: ₹14.72 lakh (1.2% of total)
  • Other Operating Revenue: ₹47.23 lakh (3.9% of total)

AGM Details

  • 34th Annual General Meeting: Saturday, 19th September 2026 at 11:00 AM
  • Venue: Registered Office at 604, GIDC Estate, Vitthal Udyognagar - 388121, Dist. Anand, Gujarat
  • Book Closure: 13th September 2026 to 15th September 2026 (both days inclusive)
  • Cut-off Date for E-voting: 12th September 2026
  • Remote E-voting Period: 16th September 2026 (9:00 AM) to 18th September 2026 (5:00 PM)

Business to be Transacted

Ordinary Business

1. Adoption of audited financial statements for FY ended 31st March 2026 with reports of Board and Auditors

2. Reappointment of Mrs. Jyotika Patel (DIN: 00084068) as Director retiring by rotation

Special Business

3. Amendment of Memorandum of Association: Special resolution to add new business objects:

  • Sewage Treatment Plants (STP), Effluent Treatment Plants (ETP), Common Effluent Treatment Plants (CETP) operations
  • Packaging materials manufacturing and trading business
  • Environmental engineering consultancy and waste management services

4. Approval of Material Related Party Transactions: Special resolution to approve transactions with:

  • NAS Packaging Private Limited
  • Adarsh Plant Private Limited
  • Mini Sarvodyog Sira
  • Estimated value: ₹43 crore for FY 2026-27
  • Tenure: From conclusion of 34th AGM till conclusion of 35th AGM

Related Party Transactions (Proposed)

With NAS Packaging Private Limited

  • Nature: Sale/purchase of goods, availing/rendering services, lease of property
  • Estimated Value: ₹13 crore (₹2cr sales + ₹5cr purchase + ₹5cr processing + ₹5cr job work + ₹1cr lease)
  • % of FY26 Turnover: 16.62% to 41.54% across transaction types

With Adarsh Plant Private Limited

  • Nature: Sale/purchase of goods, availing/rendering services
  • Estimated Value: ₹13 crore (₹10cr sales + ₹1cr purchase + ₹1cr processing + ₹1cr job work)
  • % of FY26 Turnover: 8.31% to 83.08% across transaction types

With Mini Sarvodyog Sira

  • Nature: Sale/purchase of goods, availing/rendering services
  • Estimated Value: ₹40 crore (₹5cr sales + ₹20cr purchase + ₹10cr processing + ₹5cr job work)
  • % of FY26 Turnover: 41.54% to 166.16% across transaction types

Capital Structure

  • Paid-up Share Capital: ₹991.15 lakh unchanged during FY26
  • Promoter Holding: 70.63% (Naishadkumar Patel: 40.61%, Atish Patel: 30.02%)
  • Public Holding: 29.37%
  • Dematerialized Shares: 95.83% of total share capital

Board and Management

Directors

  • Mr. Atish Patel (Managing Director)
  • Mrs. Jyotikaben N. Patel (Non-Executive Director)
  • Mr. Bipinkumar S. Thakkar (Independent Director)
  • Mr. Vipul H. Raval (Independent Director)
  • Mr. Chandrashekhar S. Trivedi (Independent Director)
  • Mr. Naishadkumar Patel (Non-Executive Chairperson)

Key Managerial Personnel

  • Mr. Atish Patel (Managing Director)
  • Mr. Harsh Patel (Chief Financial Officer - appointed 15.02.2026)
  • Ms. Dhwani Shah (Company Secretary and Compliance Officer)

Dividend and Reserves

  • No dividend recommended due to loss position
  • No amount transferred to general reserves

Corporate Governance

  • Compliance certificate from practicing company secretary obtained
  • Four Board meetings held during FY26
  • Separate meetings of Independent Directors conducted
  • Whistle Blower Policy and Vigil Mechanism in place
  • No sexual harassment complaints received during FY26

Risk Factors

  • Decline in revenue attributed to volatile global economy and geopolitical uncertainties
  • Raw material price fluctuations and overhead cost inconsistencies
  • Regulatory and political changes affecting operations

Forward Outlook

  • Management expects promising growth in FY 2026-27 across all segments
  • Focus on increasing market penetration in industrial packaging segment
  • Shift in focus from MS Barrel to Insulated Composite Barrel
  • Agricultural sector expected to revive due to regular monsoons and government spending
  • Increased marketing focus on Smokeless Chulha/Ecostove segment

Other Disclosures

  • Company has no subsidiaries, associates or joint ventures
  • No deposits accepted from public during FY26
  • No loans, guarantees or investments under Sections 185 and 186 of Companies Act, 2013
  • No frauds reported under Section 143(12) of Companies Act, 2013
  • No material changes affecting financial position between year-end and report date