Key Financial Figures

  • Revenue from Operations: ₹9.90 lakhs (Previous Year: ₹15.25 lakhs)
  • Net Loss: ₹35.68 lakhs (Previous Year: ₹13.37 lakhs)
  • Total Income: ₹2.11 lakhs (Previous Year: ₹23.18 lakhs)
  • Loss Before Tax: ₹48.29 lakhs (Previous Year: ₹41.27 lakhs)
  • Depreciation & Amortization: ₹12.39 lakhs (Previous Year: ₹16.72 lakhs)
  • Finance Cost: ₹1.39 lakhs (Previous Year: ₹1.68 lakhs)
  • Accumulated Losses: ₹400.94 lakhs (Previous Year: ₹365.26 lakhs)
  • Earnings Per Share (EPS): -₹0.69 (Previous Year: -₹0.26)
  • Paid-up Equity Share Capital: ₹513.88 lakhs (unchanged)
  • Total Assets: ₹527.32 lakhs (Previous Year: ₹545.96 lakhs)

AGM Details

  • Date: September 30, 2026, at 2:00 P.M.
  • Venue: Registered Office at 7th K.M. Barwala Road, Talwandi Rana, Hisar (Haryana)
  • Business:
  • Ordinary Business: Adoption of financial statements, re-appointment of retiring directors (Smt. Shruti Gupta and Mr. Sachin Dewan), appointment of statutory auditors (M/s. CGH & Associates)
  • Special Business: Appointment of Mr. Rohan Mehrotra and Mr. Amit Kumar as Independent Directors, and Mr. Amit Gupta as Director

Director Appointments

  • Mr. Rohan Mehrotra (DIN: 09073372): Appointed as Additional Director (Non-Executive Independent) on May 20, 2026; proposed for 5-year term until May 19, 2031
  • Mr. Amit Kumar (DIN: 10996442): Appointed as Additional Director (Non-Executive Independent) on May 20, 2026; proposed for 5-year term until May 19, 2031
  • Mr. Amit Gupta (DIN: 00255618): Appointed as Additional Director (Non-Executive, Non-Independent) on September 8, 2026; liable to retire by rotation

Auditor Changes

  • M/s. Jain Mittal Chaudhary & Associates resigned as statutory auditors effective January 29, 2026
  • M/s. CGH & Associates appointed as statutory auditors on February 27, 2026, approved by members at EGM on August 10, 2026
  • Proposed appointment for 5-year term from conclusion of 34th AGM until conclusion of 39th AGM

Business Performance

  • Manufacturing operations suspended since May 2023 due to continuous losses
  • No production during FY 2025-26; factory remains non-operational
  • Steel pipe segment revenue: ₹9.90 lakhs (PVC pipe segment: nil)
  • Company considering disposal of plant and machinery to settle outstanding dues to raw material suppliers
  • Unable to obtain working capital or term loan facilities from banks

Capital Structure Impact

  • Preferential issue of 2,15,00,000 convertible warrants at ₹10.35 per warrant approved at EGM on February 21, 2026
  • Warrants allotted on July 15, 2026 (subsequent to year-end)
  • No change in share capital during the year

Corporate Governance

  • Board comprises 8 directors (4 Non-Executive Independent Directors)
  • Seven board meetings held during the year
  • Adequate internal financial controls in place
  • No fraud reported during the year
  • No pending investor complaints

Key Dates

  • Book Closure: September 24-30, 2026
  • E-voting Period: September 27-29, 2026 (9:00 A.M. to 5:00 P.M.)
  • Cut-off Date: September 23, 2026

Other Material Information

  • No dividend recommended for the year
  • No deposits accepted under Section 73 of Companies Act, 2013
  • No loans, guarantees, or investments under Section 186
  • No material related party transactions
  • No significant orders from regulators/courts affecting going concern status
  • Company has three associate companies but no subsidiaries or joint ventures