Financial Performance Highlights (FY 2025-2026)

  • Revenue from Operations: ₹3.23 crore (Previous Year: ₹5.35 crore) - Decline of 39.5%
  • Total Income: ₹3.35 crore (Previous Year: ₹5.84 crore) - Decline of 42.6%
  • Loss before Tax: ₹16.04 crore (Previous Year: Loss of ₹1.54 crore after exceptional item)
  • Net Loss: ₹16.04 crore (Previous Year: Loss of ₹1.54 crore)
  • Exceptional Items: None in current year (Previous Year: ₹4.00 crore)
  • Earnings Per Share (Basic & Diluted): -₹3.40 (Previous Year: -₹0.33)

Key Financial Position (as at 31st March, 2026)

  • Total Assets: ₹12.76 crore (Previous Year: ₹14.01 crore)
  • Equity Share Capital: ₹4.72 crore (47,15,500 equity shares of ₹10 each)
  • Other Equity: Negative ₹4.72 crore (Previous Year: Negative ₹3.07 crore)
  • Total Borrowings: ₹2.21 crore (Previous Year: ₹3.10 crore)
  • Secured Borrowings: ₹1.54 crore
  • Unsecured Borrowings: ₹66.36 crore
  • Trade Receivables: ₹4.40 crore (Previous Year: ₹6.03 crore)
  • Inventories: ₹5.46 crore (Previous Year: ₹4.72 crore)

Annual General Meeting Details

Date: Tuesday, 14th July, 2026

Time: 11:00 AM

Venue: Registered Office at 32, Chowringhee Road, "OM Tower", Room No-805, Floor-8th, Kolkata-700071

Ordinary Business

1. To receive, consider and adopt Audited Financial Statements and Reports of Board of Directors and Auditors for year ended 31st March, 2026

2. To re-appoint M/s. C. K. Chandak & Co., Chartered Accountants as Statutory Auditors from FY 2026-27 to FY 2030-31

3. To appoint Mr. Vivek Agarwala (DIN: 00595954) as Director who retires by rotation

Special Business

4. Appointment of Secretarial Auditor: To appoint FCS Mr. Kamal Kumar Sharma as Secretarial Auditor for five years commencing from FY 2025-26 to FY 2029-30

5. Material Related Party Transaction: To approve borrowing/availing of loans/advances from promoter company M.V. Credit Capital Private Limited for aggregate amount not exceeding ₹2.50 crore

Share Capital Changes

  • Authorized Share Capital: ₹8.50 crore (85,00,000 equity shares of ₹10 each) - unchanged
  • Paid-up Share Capital: ₹4.72 crore (47,15,500 equity shares of ₹10 each) - unchanged
  • Preferential Issue: Issued 19,00,000 convertible warrants at ₹50 per warrant aggregating ₹9.50 crore to M.V. Credit Capital Pvt Ltd, VNS Projects LLP, and individuals
  • Warrant Terms: Each warrant convertible into 1 equity share within 18 months, ₹2.37 crore received upfront (25% of consideration)

Board of Directors

1. Vivek Agarwala - Director (DIN: 00595954)

2. Vinay Dalmia - Whole Time Director (DIN: 01219851)

3. Smita Agarwal - Woman Director (DIN: 00200242)

4. Ravikesh Kr. Sinha - Non-Executive Independent Director (DIN: 06573624)

5. Hari Prakash Gupta - Non-Executive Independent Director (DIN: 00173929)

Key Managerial Personnel

  • Vijaya Kumari - Chief Financial Officer
  • Saket Khemka - Company Secretary & Compliance Officer (Appointed w.e.f. 17.07.2025)
  • Bina Padia resigned as Company Secretary w.e.f. 28.05.2025

Auditor Appointments

  • Statutory Auditors: C.K. Chandak & Co., Chartered Accountants (FRN: 326844E) - Recommended for reappointment for 5 years
  • Secretarial Auditor: Mr. Kamal Kumar Sharma, Practicing Company Secretary - Proposed for appointment for 5 years
  • Internal Auditor: M/S. Heliwal & Associates, Chartered Accountants (Firm Reg. No. 332936E)

Related Party Transactions

  • Borrowings from M.V. Credit Capital: Outstanding balance ₹66.36 crore as at 31st March, 2026
  • Interest Paid: ₹8.56 crore during FY26
  • Directors Interest: Mr. Vivek Agarwala, Ms. Smita Agarwal and Ms. Amrit Agarwala are directors in M.V. Credit Capital with shareholding exceeding 2%

Shareholding Pattern (as at 31st March, 2026)

  • Promoters & Promoter Group: 75% (35,36,625 shares)
  • Public Shareholding: 25% (11,78,875 shares)
  • Physical Shares: 14.45%
  • Dematerialized Shares: 85.55% (NSDL: 78.28%, CDSL: 7.27%)

Important Dates

  • Book Closure: 8th July 2026 to 14th July 2026
  • E-voting Period: 11th July 2026 (9:00 AM) to 13th July 2026 (5:00 PM)
  • Cut-off Date for E-voting: 7th July 2026

Corporate Actions

  • No dividend declared for FY 2025-2026 due to losses
  • No amount transferred to reserves
  • No fraud reported by auditors
  • No material orders passed by regulators/courts impacting going concern status

Other Significant Information

  • Scrutinizer: Ms. Arti Vyas, Practicing Company Secretary appointed for e-voting process
  • RTA: ABS Consultant Private Limited, Kolkata
  • Bankers: Punjab National Bank