Financial Performance Highlights

  • Total Revenue: ₹47.45 crores (FY26) vs ₹50.34 crores (FY25), decrease of 5.74%
  • Net Profit After Tax: ₹2.93 lakhs (FY26) vs ₹30.22 lakhs (FY25), decrease of 90.30%
  • Profit Before Tax: ₹18.93 lakhs (FY26) vs ₹47.51 lakhs (FY25)
  • Tax Expense: ₹16.00 lakhs (FY26) comprising:
  • Current tax: ₹2.95 lakhs
  • Short/(Excess) provision of earlier years: (₹0.75) lakhs
  • Deferred tax: ₹13.80 lakhs
  • Earnings Per Share: ₹0.33 (Basic and Diluted) vs ₹3.36 in previous year
  • Reserves and Surplus: Opening balance ₹313.73 lakhs, closing balance ₹316.66 lakhs after transferring FY26 profit
  • No dividend recommended for FY26

Capital Structure

  • Paid-up Equity Share Capital: ₹90.00 lakhs divided into 9,00,000 equity shares of ₹10 each
  • No change in share capital during the year
  • No issue of sweat equity, bonus shares, or shares with differential rights

Operational Highlights

  • Products manufactured: Glycols, Ethylene Oxide Derivatives, Amines, Anti-Cooling Agents, Brake fluids, Surfactants
  • Production volumes: Brake Fluid (125,868 units), Methyl Cellosolve (558,924 units), Methyl Carbitol (179,681 units), Butyl Cellosolve (245,439 units), P.E.G. 4000 (246,486 units)
  • ISO 9001 certification maintained for Chemical Division
  • Factory address: Plot No. 167, Pirana Road, Village: Piplej, Ahmedabad

Board and Management Changes

Changes effective August 11, 2026:

  • Resignations:
  • Mr. Akshat Shukla (Non-Executive Independent Director and Chairman of Audit Committee)
  • Mr. Arvind Vishwanath Goenka (Non-Executive Director)
  • Appointments:
  • Mr. Priyank Dilipbhai Parikh (DIN: 11874552) as Additional Non-Executive Independent Director for 5-year term (August 11, 2026 to August 10, 2031)
  • Designation change:
  • Mrs. Palak Tapas Relia from Non-Executive Director to Chairman & Non-Executive Director

AGM Details

  • Date: Wednesday, September 30, 2026
  • Time: 02:00 PM
  • Venue: Factory at Plot No. 167, Pirana Road, Village: Piplej, Ahmedabad
  • Business:

1. Adoption of audited financial statements for FY26

2. Re-appointment of Mrs. Palak Tapas Relia (DIN: 09234949) as Director retiring by rotation

3. Appointment of Mr. Priyank Dilipbhai Parikh as Non-Executive Independent Director (Special Resolution)

  • Record date: September 23, 2026
  • Book closure: September 24, 2026 to September 30, 2026 (both days inclusive)
  • E-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM) through NSDL

Corporate Governance

Board Composition (as of March 31, 2026):

  • Mr. Pulkit Goenka (Managing Director)
  • Mr. Arvind Goenka (Non-Executive Director)
  • Mrs. Aanchal Goenka (Non-Executive Woman Director)
  • Mr. Akshat Shukla (Independent Director)
  • Mrs. Palak Tapas Relia (Non-Executive Director)
  • Mr. Harshil Vadodariya (Independent Director)

Committee Changes (effective August 11, 2026):

  • Audit Committee: Mr. Priyank Parikh appointed Chairman, Mrs. Aanchal Goenka appointed Member
  • Nomination and Remuneration Committee: Mr. Priyank Parikh appointed Chairman, Mrs. Aanchal Goenka appointed Member
  • Stakeholders Relationship Committee: Mrs. Aanchal Goenka appointed Chairman, Mr. Priyank Parikh appointed Member

Board Meetings:

  • 9 meetings held during FY26 with full attendance by all directors

Key Financial Position (as of March 31, 2026)

  • Total Assets: ₹3,164.13 lakhs
  • Non-current Assets: ₹922.41 lakhs (Property, plant and equipment: ₹891.73 lakhs)
  • Current Assets: ₹2,241.72 lakhs (Inventories: ₹933.50 lakhs; Trade receivables: ₹1,154.69 lakhs)
  • Equity: ₹406.66 lakhs
  • Non-current Liabilities: ₹474.90 lakhs (Long-term borrowings: ₹423.37 lakhs)
  • Current Liabilities: ₹2,282.57 lakhs (Short-term borrowings: ₹991.38 lakhs; Trade payables: ₹1,233.53 lakhs)

Compliance Matters

  • SEBI Compliance: Secretarial audit noted non-compliance with:
  • Only 23.14% of promoter holding in demat form vs SEBI requirement of 100%
  • Non-implementation of SDD software as required under SEBI PIT Regulations
  • Explanation provided: Some promoters are inactive, two are deceased, others are in process of dematerialization
  • Other compliance: Company affirms compliance with all other applicable laws including POSH Act, Maternity Benefit Act

Related Party Transactions

All related party transactions were on arm's length basis and in ordinary course of business. Key transactions:

  • Directors' remuneration: Mr. Pulkit Goenka (₹30.00 lakhs)
  • Loans from related parties: Outstanding ₹100.54 lakhs from Sheela Ashok Goenka, ₹103.69 lakhs from Pulkit Goenka
  • Interest paid on loans: ₹13.34 lakhs to Sheela Ashok Goenka, ₹1.25 lakhs to Aditi Pulkit Goenka

Other Disclosures

  • CSR: Not applicable as net worth, turnover and net profit below prescribed limits
  • Deposits: Company has not accepted any deposits under Chapter V of Companies Act, 2013
  • Cost Records: Not applicable to the company
  • Internal Financial Controls: Adequate and operating effectively as per auditor's report
  • Vigil Mechanism: Whistle Blower Policy exists and operational
  • Foreign Exchange:
  • Imports: ₹55.44 lakhs (Raw materials)
  • Exports: F.O.B. value ₹213.67 lakhs
  • Foreign exchange earnings and outgo provided in notes to accounts

Forward-looking Statements

The directors are hopeful of achieving better performance and target turnover in current year, citing evergreen demand for company's products used in automobile industries, paints, refineries, and continued efforts to tap export markets.