Financial Performance Highlights

Profit & Loss Statement (₹ in Lacs)

| Particulars | 2025-26 | 2024-25 |

| Revenue from Operations | 3,460.22 | 4,158.78 |

| Other Income | 46.53 | 4.95 |

| Total Income | 3,526.75 | 4,163.73 |

| Profit Before Tax | 30.84 | 38.94 |

| Current Tax | 17.24 | 19.58 |

| Deferred Tax | (8.80) | (9.75) |

| Profit After Tax | 22.40 | 29.11 |

| Total Comprehensive Income | 31.83 | 32.42 |

| EPS (Basic & Diluted) | ₹0.02 | ₹0.03 |

Operational Performance

  • Export Revenue: ₹2,476.35 lacs (71.6% of total), down from ₹3,165.43 lacs in FY25
  • Foreign Exchange Used: ₹3.52 lacs vs ₹23.61 lacs in FY25
  • Cost Breakdown:
  • Raw Materials: ₹1,938.97 lacs
  • Employee Benefits: ₹388.62 lacs
  • Finance Costs: ₹188.74 lacs
  • Depreciation: ₹73.39 lacs

Balance Sheet Position (as of March 31, 2026)

Assets (₹ in Lacs)

  • Current Assets: 6,253.97
  • Inventories: 4,473.17
  • Trade Receivables: 731.10
  • Cash & Cash Equivalents: 5.67
  • Other Financial Assets: 204.43
  • Non-Current Assets: 677.95 (Net PPE)

Liabilities & Equity (₹ in Lacs)

  • Equity: 1,314.29
  • Share Capital: 1,079.73 (10,79,73,360 shares of ₹1 each)
  • Other Equity: 234.56
  • Non-Current Liabilities: 100.10
  • Borrowings: 2.85
  • Deferred Tax Liability: 19.62
  • Provisions: 97.25
  • Current Liabilities: 4,843.49
  • Borrowings: 2,877.15
  • Trade Payables: 1,758.93
  • Other Financial Liabilities: 117.13
  • Other Current Liabilities: 73.24
  • Provisions: 13.13

Capital Structure

  • Authorized Capital: ₹11,00,00,000 (11 crore shares)
  • Issued, Subscribed & Paid-up: ₹10,79,73,360 (10.79 crore shares)
  • Promoter Holding: 58.78% (as of March 31, 2026)
  • Public Holding: 41.22%

AGM and Resolutions

13th Annual General Meeting: September 30, 2026, at 09:30 AM at 187/170 Jajmau Road, Kanpur 208010

Ordinary Business

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mr. Iqbal Ahsan (DIN: 00037424) as director retiring by rotation

3. Appointment of M/s Kapoor Tandon & Company (Firm Regn No: 000952C) as auditors and fixing their remuneration

Special Business

4. Appointment of Mr. Abdullah Akhtar Soleja (DIN: 01006406) as Independent Director for 5 years (September 30, 2026 to September 29, 2031)

5. Appointment of Mr. Asad Kamal Iraqi (DIN: 01713276) as Independent Director for 5 years (September 30, 2026 to September 29, 2031)

Board and Committee Composition

Board of Directors

  • Mr. Veqarul Amin (Managing Director)
  • Mr. Iftikharul Amin (Director)
  • Mr. Iqbal Ahsan (Director)
  • Mr. Iqbal Akhtar Soleja (Non-Executive Independent Director)
  • Mrs. Sadia Kamal (Non-Executive Independent Director)
  • Mr. Aftab Ahmad (Non-Executive Independent Director)

Key Managerial Personnel

  • Mr. Habibullah Khan (Chief Financial Officer)
  • Mr. Sharad Chandra Shukla (Company Secretary)

Board Committees

  • Audit Committee: Mr. Aftab Ahmad (Chairman), Mr. Iqbal Akhtar Soleja, Mrs. Sadia Kamal
  • Nomination and Remuneration Committee: Mr. Aftab Ahmad (Chairman), Mr. Iqbal Akhtar Soleja, Mrs. Sadia Kamal
  • Stakeholders Relationship Committee: Mr. Aftab Ahmad (Chairman), Mr. Iqbal Akhtar Soleja, Mrs. Sadia Kamal

Operational Details

  • Plant Location: 4-46 & 47, Leather Technology Park, Banthar Unnao, U.P. - 209862
  • Bankers: State Bank of India, Overseas Branch, Kanpur
  • Registrar & Share Transfer Agent: KFin Technologies Ltd., Hyderabad
  • Employee Strength: 166 permanent employees as of March 31, 2026
  • Industrial Relations: Reported as cordial

Auditor Reports

Statutory Auditors

M/s Kapoor Tandon & Company issued unqualified audit report dated May 26, 2026. Key observations:

  • Quarterly returns filed with banks not in agreement with books of account (differences ranging from ₹26.70 lacs to ₹164.24 lacs)
  • No material weaknesses in internal financial controls
  • No fraud reported or detected

Secretarial Auditors

M/S K.N. Shridhar & Associates issued unqualified secretarial audit report. Noted that minutes book maintenance not fully compliant with Secretarial Standards SS-1 and SS-2.

Related Party Transactions

Transactions with related parties (Super Tannery Ltd, Shamrock Leathers, etc.) were in ordinary course of business at arm's length. Total transactions:

  • Purchases: ₹191.00 lacs from Shamrock Leathers
  • Sales: ₹270.78 lacs to Shamrock Leathers

Corporate Governance

  • Company complied with SEBI LODR Regulations
  • Four board meetings held during the year
  • No material related party transactions conflicting with company interests
  • Whistleblower policy implemented

Other Significant Information

  • Book Closure: September 23-24, 2026
  • E-voting Period: September 27-29, 2026 (9:00 AM to 5:00 PM)
  • Scrutinizer: M/s. K.N Shridhar and Associates, Practising Company Secretary
  • Dividend: No dividend recommended for FY26
  • CSR: Not applicable to the company
  • Deposits: No fixed deposits accepted during the year