Financial Performance Highlights (Standalone)

  • Revenue from operations: ₹211.53 crore (FY 2025-26) vs ₹200.91 crore (FY 2024-25) - increase of 5.28%
  • Other income: ₹4.69 crore (FY 2025-26) vs ₹4.71 crore (FY 2024-25)
  • Total revenue: ₹216.22 crore (FY 2025-26) vs ₹205.63 crore (FY 2024-25)
  • EBITDA: ₹12.41 crore (FY 2025-26) vs ₹12.58 crore (FY 2024-25)
  • Finance costs: ₹3.23 crore (FY 2025-26) vs ₹4.27 crore (FY 2024-25) - decrease of 27%
  • Profit before tax: ₹3.75 crore (FY 2025-26) vs ₹1.94 crore (FY 2024-25)
  • Profit after tax: ₹1.28 crore (FY 2025-26) vs ₹1.84 crore (FY 2024-25) - decrease of 30.31%
  • EPS Basic & Diluted: ₹0.51 (FY 2025-26) vs ₹0.74 (FY 2024-25)
  • Reserves: Nearly doubled compared to previous year
  • No dividend recommended for FY 2025-26 to conserve funds

Share Capital Structure

  • Authorized share capital: ₹25.00 crore (2,50,00,000 equity shares of ₹10 each)
  • Issued, paid-up and subscribed capital: ₹25.00 crore (2,50,00,000 equity shares of ₹10 each)
  • No changes in share capital during the year under review

Annual General Meeting Details

  • 13th AGM Date: Saturday, 22nd August, 2026 at 11:00 AM
  • Venue: Registered office at Survey No. 100/1, Plot No.1, Haripar, Tal: Kalavad, Dist: Jamnagar-361112, Gujarat
  • Record date: Monday, 17th August, 2026
  • Remote e-voting period: 19th August 2026 (9:00 AM) to 21st August 2026 (5:00 PM)

AGM Agenda Items

Ordinary Business

1. Adoption of audited financial statements for FY ended 31st March 2026 with Directors' and Auditors' reports

2. Reappointment of Mr. Pankaj Becharbhai Bhimani (DIN: 08818741) who retires by rotation

Special Business

3. Approval of material related party transactions with Redeco Fibers Private Limited (maximum ₹100 crore for FY 2026-27)

  • Previous year transactions: ₹7.04 crore (2025-26)
  • Relationship: Enterprise where directors/relatives have significant influence
  • Directors interested: Rameshkumar Ranipa, Jitendra Raiyani, Rohankumar Raiyani

4. Approval of material related party transactions with Haripriya Spinning Mill Private Limited (maximum ₹100 crore for FY 2026-27)

  • Previous year transactions: ₹6.20 crore (2025-26)
  • Relationship: Enterprise where directors/relatives have significant influence
  • Directors interested: Rameshkumar Ranipa, Rohankumar Raiyani

5. Approval of material related party transactions with Murlidhar Worldtrade Private Limited (maximum ₹100 crore for FY 2026-27)

  • Previous year transactions: ₹44.27 crore (2025-26) plus ₹11.11 crore in current quarter
  • Relationship: Enterprise where directors/relatives have significant influence
  • Directors interested: Rameshkumar Ranipa

6. Approval of remuneration of Cost Auditor M/s Manish Bhagvandas Analkat (FRN: 100261) at ₹40,000 plus taxes for FY 2026-27

7. Reappointment of Mr. Rutvikkumar Prabhudas Bhensdadiya (DIN: 09306285) as Independent Director for second term of 5 years (3rd September 2026 to 2nd September 2031)

Board of Directors

  • Mr. Rameshkumar Jivrajbhai Ranipa: Chairman & Whole-time Director (DIN: 03339532)
  • Mr. Jitendra Gopalbhai Raiyani: Executive Director (DIN: 00284527)
  • Mr. Pankaj Becharbhai Bhimani: Whole-time Director (DIN: 08818741)
  • Mr. Rohankumar Jitendra Raiyani: Managing Director (DIN: 08814726)
  • Ms. Jyoti Jashvantray Kataria: Non-Executive Independent Director
  • Mr. Hiteshkumar Chhaganbhai Chaniyara: Non-Executive Independent Director
  • Mr. Rutvikkumar Prabhudas Bhensdadiya: Non-Executive Independent Director
  • Mr. Chandrakant Bhimjibhai Gopani: Non-Executive Independent Director

Key Managerial Personnel

  • Mr. Rohankumar Jitendra Raiyani: Managing Director
  • Mr. Rameshkumar Jivrajbhai Ranipa: Chairman & Whole-time Director
  • Mr. Pankaj Becharbhai Bhimani: Whole-time Director
  • Mr. Ashish Dhirajbhai Desai: Chief Financial Officer
  • Ms. Reena Kanabar: Company Secretary & Compliance Officer

Committee Composition

  • Audit Committee: Hiteshkumar Chaniyara (Chairperson), Jyoti Kataria, Jitendra Raiyani
  • Stakeholder's Relationship Committee: Hiteshkumar Chaniyara (Chairperson), Jyoti Kataria, Jitendra Raiyani
  • Nomination & Remuneration Committee: Hiteshkumar Chaniyara (Chairperson), Jyoti Kataria, Rutvikkumar Bhensdadiya
  • CSR Committee: Hiteshkumar Chaniyara (Chairperson), Jyoti Kataria, Jitendra Raiyani

Statutory Appointments

  • Statutory Auditors: M/s Chetan Agarwal & Co., Chartered Accountants (FRN: 120447W)
  • Cost Auditors: M/s Manish Bhagvandas Analkat (FRN: 100261)
  • Secretarial Auditors: M/s SCS and Co. LLP, Practicing Company Secretaries
  • Internal Auditor: CA Sefali Dineshbhai Mrug (FRN: 160465W)
  • Registrar & Share Transfer Agent: M/s Bigshare Services Pvt. Ltd.

Regulatory Compliance Issues

  • BSE penalty: ₹10,000 for late submission of voting results for AGM held on 20th September 2025 (paid by company)
  • Previous issue: Promoters' demat accounts were frozen in December 2025 due to non-payment of fine related to March 2024 financial results query, later waived by BSE in February 2026
  • Secretarial audit observations:
  • 26-minute delay in uploading board meeting outcome on 6th November 2025
  • 1-day delay in submitting voting results for September 2025 AGM

Plant and Operational Details

  • Installed capacity: 39,648 spindles
  • Location: Between Rajkot & Jamnagar, Gujarat
  • Employees: 22 office staff + approximately 275 factory personnel
  • Segment: Single segment - manufacturing of cotton yarns

Important Notes

  • All related party transactions are stated to be at arm's length and in ordinary course of business
  • Company was not required to comply with CSR provisions for FY 2025-26 as profit was below threshold limits
  • No material changes after balance sheet date
  • No significant and material orders passed by regulators/courts
  • The company has adequate internal financial controls systems