Key Quantitative Figures

Financial Performance (FY 2025-26 vs FY 2024-25):

  • Revenue from operations: ₹4,202.70 lakh (prev. ₹3,839.01 lakh) - increase of 9.47%
  • Total revenue: ₹4,269.64 lakh (prev. ₹3,970.84 lakh) - increase of 7.52%
  • Profit before tax: ₹320.45 lakh (prev. ₹429.77 lakh) - decrease of 25.4%
  • Profit after tax: ₹231.10 lakh (prev. ₹333.85 lakh) - decrease of 30.8%
  • Earnings per share (basic): ₹2.67 (prev. ₹3.96)
  • Other income: ₹66.94 lakh (prev. ₹131.83 lakh) - decrease of 49.2%
  • Manufactured product sales: ₹2,452.66 lakh
  • Trading sales: ₹1,750.03 lakh

Financial Position as at 31st March 2026:

  • Paid-up share capital: ₹865.56 lakh (86,55,640 equity shares of ₹10 each)
  • Reserves and surplus: ₹1,772.05 lakh
  • Total assets: ₹3,331.04 lakh
  • Current assets: ₹2,050.73 lakh (including inventories ₹963.62 lakh, trade receivables ₹492.81 lakh, cash ₹317.95 lakh)
  • Current liabilities: ₹622.69 lakh
  • Current ratio: 3.29 (prev. 3.66)
  • Debt-equity ratio: 0.15 (prev. 0.11)

Key Dates and Events

  • AGM Date: 30th September, 2026 at 04.00 p.m. through VC/OAVM
  • Record date: 23rd September, 2026
  • Book closure: 24th September to 30th September, 2026 (both days inclusive)
  • Remote e-voting period: 27th September (09.00 A.M.) to 29th September, 2026 (05.00 P.M.)
  • Financial year: 1st April, 2025 to 31st March, 2026

Parties Involved

Board of Directors:

  • Mr. Kashyap Pravin Mody (Managing Director, DIN: 01717036)
  • Mr. Hemanshu Kantilal Batavia (Wholetime Director & CFO)
  • Mr. Ajay Somabhai Mehta (Non-Executive Director)
  • Mr. Gaurav Maheshwari (Independent Director)
  • Mrs. Anamika Ajmera (Independent Director)

Key Managerial Personnel:

  • Ms. Krishna Rathi (Company Secretary and Compliance Officer)

Professional Appointees:

  • Statutory Auditors: M/s. R.K. Jagetiya & Co., Chartered Accountants
  • Internal Auditor: M/s. Soni Punit & Associates Chartered Accountants
  • Secretarial Auditor: M/s. Pimple & Associates, Practicing Company Secretaries
  • RTA: Bigshare Services Private Limited

Bankers:

  • Axis Bank Limited

Business Operations and Strategy

Manufacturing Facilities:

  • Unit-I: Amkay House, Plot No. 27, Achhad Industrial Estate, Talasari, Palghar, Thane
  • Unit-II: Plot No. 39, Achhad Industrial Estate, Talasari, Palghar, Thane

Product Portfolio:

  • Thermometer, Nebulizer, Alcohol swab, Hot Water Bag, Face Masks, Lancet Needles, Pulse Oximeters, Surgeon Caps, and other healthcare products

Business Model:

  • Combination of manufacturing (₹2,452.66 lakh) and trading activities (₹1,750.03 lakh)
  • Focus on "Make in India" excellence in healthcare products
  • Customers: healthcare centers, hospitals, clinics, nursing homes

Foreign Exchange:

  • Earnings: ₹18.24 lakh
  • Expenditure: None disclosed

Corporate Governance

Committee Composition:

  • Audit Committee: Mrs. Anamika Ajmera (Chairperson), Mr. Gaurav Maheshwari, Mr. Kashyap Pravin Mody
  • Nomination and Remuneration Committee: Mrs. Anamika Ajmera (Chairperson), Mr. Gaurav Maheshwari, Mr. Ajay Somabhai Mehta
  • Stakeholders Relationship & Grievance Committee: Mrs. Anamika Ajmera (Chairperson), Mr. Kashyap Pravin Mody, Mr. Hemanshu Kantilal Batavia

Board Meetings:

  • 6 meetings held during FY 2025-26 on: May 23, 2025; May 29, 2025; July 28, 2025; September 06, 2025; November 12, 2025; February 21, 2026
  • All directors attended all meetings

AGM Agenda Items

Ordinary Business:

1. To receive, consider, approve and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026

2. To re-appoint Mr. Kashyap Pravin Mody (DIN 01717036) as Director liable to retire by rotation

Regulatory and Compliance Matters

SEBI Complaints:

  • 1 complaint received through SCORES platform in FY 2025-26, resolved within prescribed timeline

Secretarial Audit:

  • M/s. Pimple & Associates issued unqualified secretarial audit report
  • Company complied with Companies Act, 2013; SEBI Listing Regulations; and other applicable laws

Statutory Audit:

  • M/s. R.K. Jagetiya & Co. issued unqualified audit opinion
  • Emphasis on matter regarding audit trail facility for certain inventory records
  • No fraud reported under Section 143(12) of Companies Act, 2013

Significant Financial Ratios and Changes

Key ratio changes (≥25% compared to previous year):

1. Current Ratio: 3.29 (prev. 3.66) - decreased due to working capital changes

2. Debt-Equity Ratio: 0.15 (prev. 0.11) - increased due to higher short-term borrowings

3. Debt Service Coverage Ratio: 3.59 (prev. 5.23) - decreased due to increased borrowings

4. Return on Equity: 9.16% (prev. 21.24%) - decreased due to higher equity base

5. Inventory Turnover Ratio: 3.18 (prev. 4.89) - decreased due to higher inventory buildup

6. Trade Payables Turnover Ratio: 32.22 (prev. 15.23) - increased due to decreased average payables

7. Net Capital Turnover Ratio: 3.14 (prev. 4.51) - decreased due to higher working capital requirement

8. Net Profit Ratio: 5.50% (prev. 8.70%) - decreased due to lower profitability

9. Return on Capital Employed: 12.12% (prev. 17.47%) - decreased due to higher capital employed

10. Return on Investment: 3.21% (prev. 18.80%) - decreased due to changes in investment income

Capital Structure

  • Authorized share capital: ₹900.00 lakh (90,00,000 equity shares of ₹10 each)
  • Paid-up share capital: ₹865.56 lakh (86,55,640 equity shares of ₹10 each)
  • Promoter holding: 38,30,880 shares (44.24%)
  • No shares issued/allotted during the year
  • No subsidiary/joint venture/associate companies

Other Material Information

  • Internal financial controls: Adequate and operating effectively
  • Whistle blower policy: Implemented, no complaints received during FY 2025-26
  • CSR: Not applicable to the company
  • Sexual harassment: No complaints received during the year
  • Dividend: No dividend declared or paid during the year
  • Borrowings: Short-term borrowings of ₹339.51 lakh; Long-term borrowings of ₹53.02 lakh

Forward-looking Statements

Management highlighted:

  • Focus on improving operational efficiency and product portfolio
  • Expansion of distribution network across India
  • Opportunities in Indian medical devices market (projected to grow from $15.2B in 2025 to $50.1B by 2030)
  • Government support through PLI Scheme and National Medical Devices Policy
  • Risks include competition, raw material prices, regulatory changes, and foreign exchange fluctuations