Financial Overview

Standalone Financial Performance (₹ in lakhs):

| Particulars | 2025-26 | 2024-25 | % Change |

| Revenue from Operations | 7,287.99 | 5,728.15 | +27.2% |

| Other Income | 289.51 | 191.32 | +51.3% |

| Total Income | 7,577.50 | 5,919.47 | +28.0% |

| Operating Expenditure | 6,499.80 | 4,986.46 | +30.4% |

| Profit Before Interest, Depreciation and Tax | 1,077.70 | 933.01 | +15.5% |

| Interest and Finance Charges | 180.47 | 205.49 | -12.2% |

| Profit Before Depreciation and Tax | 897.23 | 727.52 | +23.3% |

| Depreciation | 145.61 | 108.84 | +33.8% |

| Profit Before Tax | 751.62 | 618.68 | +21.5% |

| Total Tax Expense | 141.76 | 112.39 | +26.1% |

| Net Profit After Tax | 609.86 | 506.28 | +20.5% |

Key Financial Position Items (as of March 31, 2026):

  • Equity Share Capital: ₹1,732.19 lakhs (17,321,898 equity shares of ₹10 each)
  • Reserves and Surplus: ₹7,225.77 lakhs
  • Total Borrowings: ₹1,457.33 lakhs (₹416.95 lakhs non-current + ₹1,040.38 lakhs current)
  • Cash and Cash Equivalents: ₹2,244.69 lakhs
  • Inventories: ₹5,298.44 lakhs
  • Trade Receivables: ₹4,373.87 lakhs (₹125.40 lakhs non-current + ₹4,248.47 lakhs current)

Earnings Per Share:

  • Basic EPS: ₹3.47 (Previous year: ₹2.92)
  • Diluted EPS: Not applicable

Annual General Meeting Details

  • Date: Tuesday, September 29, 2026
  • Time: 11:00 AM IST
  • Mode: Video Conferencing (VC)/Other Audio Visual Means (OAVM) only
  • Cut-off date for voting entitlement: Tuesday, September 22, 2026
  • Remote e-voting period: Saturday, September 26, 2026 (9:00 AM) to Monday, September 28, 2026 (5:00 PM)

Business to be Transacted:

Ordinary Business:

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

2. Re-appointment of Mr. Syed Mohamed Mohsin (DIN: 01646906) as Director liable to retire by rotation

Special Business:

3. Approval of related party transactions up to ₹100 crore annually for 5 years

4. Approval for borrowing limits up to ₹350 crore under Section 180(1)(c) of Companies Act, 2013

5. Approval for creation of mortgage/charge on company assets under Section 180(1)(a) of Companies Act, 2013

Operational and Business Highlights

Business Segments:

1. Construction and development of residential and commercial projects

2. Railway Concrete Sleepers manufacturing

3. Alloys and Castings

Key Developments:

  • Joint Development Agreement: Entered into agreement with Bharatiya City Developers for development of over 13 acres 8 guntas of land in North Bangalore
  • Expected Revenue: ₹500+ crore over 3-4 years from the joint development project
  • Railway Sleeper Business: Existing orders worth ₹50 crore; approved to set up new automatic sleeper plant for high-speed train tracks
  • Completed Development: 44 lakh sq.ft. of property development to date
  • Current Project: Alpine Iris block in North Bangalore (1.6 lakh sq.ft.) in advanced stage of construction

Restatement of Financials:

The company identified a prior period classification error relating to certain land parcels intended to be held as Investment Property but previously classified under Inventories. Consequently, land amounting to ₹126.79 lakhs was reclassified from Inventories to Investment Property. Management assessed this as not material to previously issued financial statements.

Capital Structure and Shareholding

  • Authorized Share Capital: ₹18,00,00,000 (1,80,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹17,32,18,980 (1,73,21,898 equity shares of ₹10 each)
  • Promoter Holding: 73.86% (127,94,780 shares)
  • Public Holding: 26.14% (45,27,118 shares)
  • Shares in Dematerialized Form: 95.36%
  • Shares in Physical Form: 4.64%

Corporate Governance

Board of Directors:

  • Mr. S.A. Kabeer - Chairman & Managing Director
  • Mr. S.A. Rasheed - Joint Managing Director
  • Mr. Syed Mohammed Muneer - Whole-time Director
  • Mr. S.M. Mohsin - Director
  • Mr. Rajasekaran Mahadevan - Independent Director
  • Mr. Madanmohan Jaising - Independent Director
  • Ms. Shifali Kawatra - Independent Director
  • Mr. Sudhir Surendra Rao Hallappanavar - Independent Director

Key Managerial Personnel:

  • Mr. Shaik Mohammed Osman - Chief Financial Officer
  • Mr. Kurian Zacharias - Company Secretary & Compliance Officer

Board Meetings:

11 meetings held during FY 2025-26 with 100% attendance by most directors

Committees:

  • Audit Committee: 4 meetings held
  • Stakeholders Relationship Committee: 7 meetings held
  • Nomination and Remuneration Committee: 4 meetings held
  • Corporate Social Responsibility Committee: Composition provided but meeting details not specified

Statutory Auditors:

M/s. RVKS & Associates, Chartered Accountants

  • Audit Fees: ₹5,50,000
  • Tax Audit Fee: ₹50,000
  • Opinion: Unmodified opinion without any qualifications

Secretarial Auditor:

Mr. Ashok Kumar Tripathy, Practicing Company Secretary

  • Opinion: Unmodified opinion with minor observations about website updates and record maintenance

Dividend and Transfer to Reserves

  • Dividend Recommended: No dividend for FY 2025-26
  • Transfer to Reserves: No amount transferred to general reserves
  • Previous Dividend: ₹0.50 per share for FY 2023-24

Related Party Transactions

Approval sought for material related party transactions up to ₹100 crore annually for 5 years. Transactions include lending, providing corporate guarantees, security arrangements, building maintenance services, sale/purchase of materials, transfer of rights, and construction costs with related party entities.

Borrowings and Security

Approval sought for:

  • Borrowing Limits: Up to ₹350 crore under Section 180(1)(c) of Companies Act, 2013
  • Security Creation: Creation of mortgage/charge on company assets to secure borrowings under Section 180(1)(a)

Current borrowing details provided in Note 48 of financial statements with various banks and financial institutions.

Corporate Social Responsibility (CSR)

  • CSR Obligation (2% of average net profit): ₹0.1179 crore
  • CSR Amount Spent: Nil
  • CSR Committee: Comprises 2 executive directors and 2 independent directors
  • Reason for not spending: Not specified in the disclosure

Key Ratios

| Ratio | 2025-26 | 2024-25 | Change |

| Current Ratio | 1.80 | 2.10 | -14.37% |

| Debt-Equity Ratio | 0.16 | 0.17 | -5.47% |

| Return on Equity | 34.71% | 29.23% | +18.74% |

| Inventory Turnover | 0.84 | 0.71 | +18.58% |

| Net Profit Margin | 9.80% | 10.45% | -6.19% |

Employee Benefits

  • Total Employees: 69 as of March 31, 2026
  • Gratuity Liability: ₹137.50 lakhs (recognized in balance sheet)
  • Average Salary Increase: 0.58%
  • No cases filed under Sexual Harassment of Women at Workplace Act

Contingent Liabilities

  • Claims not acknowledged as debt: ₹7,181.80 lakhs (including GST demand of ₹218.48 lakhs and income tax matters)
  • Bank Guarantees: ₹150.00 lakhs
  • Total Contingent Liabilities: ₹7,331.80 lakhs

Segment Reporting

Industry Segments (₹ in lakhs):

| Particulars | Housing Construction | Industry | Total |

| Operating Income | 5,306.35 | 2,271 | 7,577.50 |

| Net Profit After Taxes | 239.80 | 361.37 | 601.17 |

Geographical Segments:

All operations within Karnataka state

Important Dates and Compliance

  • Book Closure: September 23, 2026 to September 29, 2026 (both days inclusive)
  • E-voting through: Central Depository Services (India) Limited (CDSL)
  • Scrutinizer: Mr. Ashok Kumar Tripathy, Practicing Company Secretary
  • Results Declaration: Within 48 hours of AGM conclusion on company website and CDSL website