Board Meeting Details

The Board of Directors meeting was held on October 31, 2026, at the company's registered office in Surat from 2:00 PM to 4:00 PM.

Key Approvals and Notings

  • Minutes of Previous Board Meeting were approved
  • Various compliance reports for quarter ended September 30, 2026 were approved including Investor grievance status, Corporate Governance, Shareholding Pattern, and Reconciliation of Share Capital
  • Unaudited financial results with limited review for Q2 and half year ended September 30, 2026 were approved per Regulation 33 of SEBI LODR
  • Related Party Statement for half year ended September 30, 2026 was approved
  • Resignation of Mr. Deepak Kumar Babel (DIN: 05200110) as Managing Director due to personal and unavoidable circumstances was accepted
  • Appointment of Mrs. Nickiben Karsanbhai Nandaniya (DIN: 11950465) as Additional Director designated as Managing Director
  • Resignation of Mrs. Drishti Singhal as Company Secretary & Compliance Officer due to pre-occupation with other professional commitments was accepted
  • Appointment of Mrs. Rimjhim as Company Secretary & Compliance Officer
  • Approval for incorporation of three subsidiary companies and investment in these companies
  • Opening of bank account with ICICI Bank

Financial Results (Standalone Unaudited)

Quarter Ended September 30, 2026 (Rs. in lakhs):

  • Revenue from Operations: ₹1,734.45
  • Total Revenue: ₹1,734.45
  • Total Expenses: ₹1,600.92
  • Profit Before Tax: ₹133.53
  • Tax Expense: ₹33.71
  • Profit for the Period: ₹99.82
  • Basic EPS: ₹2.36
  • Diluted EPS: ₹2.36

Half Year Ended September 30, 2026 (Rs. in lakhs):

  • Revenue from Operations: ₹3,156.49
  • Total Revenue: ₹3,156.49
  • Total Expenses: ₹2,929.26
  • Profit Before Tax: ₹227.23
  • Tax Expense: ₹57.28
  • Profit for the Period: ₹169.95
  • Basic EPS: ₹4.30
  • Diluted EPS: ₹4.30

Segment-wise Performance (Half Year Ended September 30, 2026):

  • Plastic Products & Chemicals: Revenue ₹2,719.83 lakh, Segment Profit ₹217.60 lakh
  • Precious Metal & Stones: Revenue ₹436.64 lakh, Segment Profit ₹27.11 lakh
  • Textile Products: Revenue ₹0.00 lakh, Segment Profit ₹0.00 lakh

Balance Sheet Position as at September 30, 2026 (Rs. in lakhs)

Assets:

  • Total Assets: ₹3,804.04
  • Non-current assets: ₹249.62 (Property plant & equipment: ₹3.26, Investments: ₹227.49, Deferred tax assets: ₹18.87)
  • Current assets: ₹3,554.42 (Inventories: ₹449.29, Trade receivables: ₹2,833.50, Bank & cash equivalents: ₹36.69, Other tax assets: ₹232.44, Other current assets: ₹2.50)

Liabilities & Equity:

  • Equity share capital: ₹521.05
  • Other equity: ₹383.40
  • Current liabilities: ₹2,899.58 (Trade payables: ₹2,752.87, Other payables: ₹57.89, Current tax liabilities: ₹88.82)

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net cash flow from operating activities: (₹80.24) lakh
  • Net cash flow from investing activities: (₹3.44) lakh
  • Net cash flow from financing activities: ₹0.00
  • Net decrease in cash: (₹83.68) lakh
  • Cash at beginning: ₹120.36 lakh
  • Cash at end: ₹36.69 lakh

Management Changes

Resignations:

  • Mr. Deepak Kumar Babel resigned as Managing Director effective close of working hours on October 31, 2026
  • Mrs. Drishti Singhal resigned as Company Secretary & Compliance Officer effective close of working hours on October 31, 2026

Appointments:

  • Mrs. Nickiben Karsanbhai Nandaniya appointed as Additional Managing Director effective November 1, 2026
  • Mrs. Rimjhim appointed as Company Secretary & Compliance Officer effective November 1, 2026

Board and Committee Recomposition

Effective November 1, 2026, the board composition was reconstituted:

Board of Directors:

1. Ms. Priyadarshini Babel - Non-Executive Director

2. Mrs. Krishna Hareshbhai Bhatt - Non-Executive Independent Director

3. Mr. Ravi Jitendra Modi - Non-Executive Independent Director

4. Mrs. Nickiben Karsanbhai Nandaniya - Additional Managing Director

Audit Committee:

1. Mrs. Krishna Bhatt - Chairperson

2. Mr. Ravi Jitendra Modi - Member

3. Ms. Nickiben Karsanbhai Nandaniya - Member

Nomination and Remuneration Committee:

1. Mrs. Krishna Bhatt - Chairperson

2. Mr. Ravi Jitendra Modi - Member

3. Ms. Priyadarshini Babel - Member

Stakeholders/Investors Grievances Relationship Committee:

1. Mr. Ravi Jitendra Modi - Chairman

2. Mrs. Krishna Bhatt - Member

3. Ms. Nickiben Karsanbhai Nandaniya - Member

Auditor's Review

HRJ & Associates issued an unmodified review report but drew attention to the fact that the company has not carried out revaluation of its investments at fair market value as at September 30, 2026, since audited financial statements of investee companies were not available. Investments continue at carrying amount based on audited financial statements as at March 31, 2025.

Trading Window Closure

The trading window remained closed for 48 hours after declaration of financial results as per letter dated September 26, 2026.