Key Financial Performance Figures FY 2025-26

  • Total Operating Revenue: ₹73.52 crore
  • Net Loss: ₹11.92 crore (compared to ₹6.23 crore loss in FY25)
  • EBITDA: ₹13.32 crore
  • EBITDA Margin: 18.12%
  • Current Ratio: 1.47 (1.46 in FY25)
  • Debt Equity Ratio: 0.87 (0.86 in FY25)
  • Return on Equity: -7% (-3% in FY25)

Operational Performance by Unit

| Particulars | Hosur Tiles | Hosur Slabs | Jaipur Slabs | Hosur Quartz |

| Sales (Sq. Mt.) | 48,162.73 | 59,014.41 | 34,682.25 | 35,911.71 |

| Production (Sq. Mt.) | 43,710.96 | 58,472.86 | 35,575.93 | 36,986.89 |

| Capacity Utilization | 12.14% | 10.00% | 23.71% | 20.55% |

Significant Developments and Challenges

  • US Trade Policy Impact: Reciprocal tariffs introduced in April 2025 at 27%, escalated to ~50% by August 2025 with additional oil-linked duty, briefly reduced to 18% in February 2026 before being struck down by US Supreme Court on February 20, 2026
  • Raw Material Cost Pressure: Middle East conflict closure of Strait of Hormuz in late February 2026 disrupted petrochemical supply, increasing polyester resin costs (60% of quartz raw material cost)
  • Export Market Concentration: 51% of exports to Europe, 35% to Americas
  • Domestic Market Challenges: Bengaluru real estate sector faced delays in occupancy certificates and clearances

Capital Structure and Financing

  • Equity Share Capital: ₹15.30 crore (1.53 crore shares of ₹10 each)
  • Borrowings:
  • Non-current: ₹26.43 crore
  • Current: ₹125.16 crore
  • Current maturities of long-term debt: ₹15.16 crore
  • Unsecured Loans from Promoters:
  • Sunil Kumar Arora: ₹21.72 crore outstanding
  • Sujata Arora: ₹4.75 crore outstanding
  • Sahil Arora: ₹6.39 crore outstanding

AGM Notice Details

  • Meeting Date: September 11, 2026 at 12:30 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means
  • Ordinary Business: Adoption of accounts, reappointment of Sujata Arora who retires by rotation
  • Special Business:
  • Reappointment of Sunil Kumar Arora as Managing Director for 3 years from April 1, 2027
  • Reappointment of Sahil Arora as Whole-Time Director for 3 years from November 1, 2026
  • Approval for related party borrowings of ₹50 crore each from Sujata Arora, Sahil Arora, and Sunil Kumar Arora

Corporate Governance

  • Board Composition: 6 directors (4 non-executive, 3 independent)
  • Board Meetings: 5 meetings held during FY26
  • Key Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, CSR Committee
  • Employee Strength: 150 employees as of March 31, 2026

Auditor Information

  • Statutory Auditors: M/s. Alok Mittal & Associates, New Delhi
  • Internal Auditors: M/s. Sreekantha & Co., Hosur
  • Secretarial Auditor: M/s. S. Panigrahi & Associates, New Delhi

Other Material Information

  • CSR Expenditure: ₹9.01 lakh spent on rural healthcare program through Aro Charitable Trust
  • Segment Reporting: Primary segments are Quartz Division and Granites Division
  • Related Party Transactions: All transactions conducted at arm's length and in ordinary course of business
  • Contingent Liabilities: Bills of exchange discounted ₹7.06 crore (₹10.10 crore in FY25)
  • Dematerialized Shares: 98.7% of equity shares are dematerialized

Forward Looking Statements

The report contains forward-looking statements subject to risks and uncertainties including economic conditions, government regulations, tax frameworks, and other incidental factors. The company undertakes no obligation to update these statements publicly.