Meeting Details

  • Date: Saturday, September 26, 2026
  • Time: 04:30 P.M.
  • Location: Club Babylon, S P Road, Nr. Science City Circle, Bhadaj, Ahmedabad 380060, Gujarat, India
  • Type: 15th Annual General Meeting

Proposed Resolutions and Implications

Ordinary Business

1. Adoption of Audited Financial Statements: To receive, consider, and adopt the Audited Financial Statements for FY 2025-26, including the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and reports of Auditors and Directors.

2. Re-appointment of Director: To re-appoint Mr. Piyushkumar Thakkar (DIN: 07555460) as Executive Director who retires by rotation and is eligible for re-appointment.

Special Business

3. Approval under Section 185: To authorize the Board to advance loans, provide guarantees, or security up to INR 300 crores to subsidiaries, associates, joint ventures, or managing/whole-time directors where directors are interested.

4. Approval under Section 186: To increase limits for making investments, extending loans, and providing guarantees/securities to persons/bodies corporate beyond the prescribed thresholds, up to INR 300 crores.

5. Borrowing Limits under Section 180(1)(c): To authorize the Board to borrow money exceeding the aggregate of paid-up capital, free reserves, and securities premium, up to INR 300 crores.

6. Approval of Material Related Party Transactions: To approve material related party transactions under Regulation 23 of SEBI LODR with the following entities for FY 2026-27:

  • Ohm Enterprise: INR 25.00 crores
  • Vishnudhara Developers LLP: INR 15.00 crores
  • Vishnudhara Paradise LLP: INR 30.00 crores
  • Art Club Private Limited: INR 15.00 crores

7. Regularization of Independent Directors:

  • To appoint Mr. Ronak Mehta (DIN: 10525257) as Independent Non-Executive Director for a term of 5 years from September 26, 2026, to September 25, 2031.
  • To appoint Ms. Pooja Shah (DIN: 10851564) as Independent Non-Executive Director for a term of 5 years from September 26, 2026, to September 25, 2031.

Voting Process and Methods

  • Remote E-voting: Provided through CDSL platform for all resolutions
  • E-voting Period: Commences at 09:00 AM on September 23, 2026, and ends at 05:00 PM on September 25, 2026
  • Physical Voting: Poll voting during the AGM for members present in person
  • Scrutinizer: Mr. Yash Mehta, Partner of Agarwal & Mehta Company Secretaries LLP appointed to scrutinize the voting process

Key Financial Performance (FY 2025-26)

  • Total Revenue: INR 3,323.59 lakhs (previous year: INR 2,738.52 lakhs)
  • Profit Before Tax: INR 64.80 lakhs (previous year: INR 196.57 lakhs)
  • Profit After Tax: INR 51.99 lakhs (previous year: INR 199.23 lakhs)
  • Reserves and Surplus: INR 1,228.37 lakhs carried to balance sheet
  • Earnings Per Share: INR 0.21 basic and diluted (previous year: INR 0.80)

Significant Operational Highlights

  • The company achieved net sales of INR 3,323.59 lakhs with major revenue contributions from:
  • Club Babylon construction contract: INR 7.49 crores
  • Vishnudhara Essence construction contract: INR 9.75 crores
  • Other projects: INR 15.66 crores
  • Ongoing projects include Shree Vishnudhara Nandi (70 apartments, 35% complete), Shree Vishnudhara Residency (236 apartments + 63 shops, 10% complete)
  • The company has applied for government tenders for various projects to maintain growth momentum

Shareholding Pattern as on March 31, 2026

  • Total Shares: 2,49,56,000 equity shares of INR 10 each
  • Promoter Holding: 73.75% (1,84,04,000 shares)
  • Public Holding: 26.25%
  • Dematerialization Status: 100% of shares in demat form (91.33% with CDSL, 8.67% with NSDL)

Corporate Governance Compliance

  • The company complied with all mandatory requirements of SEBI LODR Regulations
  • Board met 8 times during the year with average attendance of 94%
  • All committees (Audit, Nomination and Remuneration, Stakeholders Relationship) functioned effectively
  • No material related party transactions entered into during the year without prior approval

Dividend Information

  • The Board did not recommend any dividend for FY 2025-26
  • No unclaimed dividend amounts were transferred to Investor Education and Protection Fund

Auditor Appointments

  • Statutory Auditors: KDN & Associates LLP appointed for 5 years from 2024-25 to 2028-29
  • Secretarial Auditors: Agarwal & Mehta Company Secretaries LLP conducted secretarial audit
  • Internal Auditors: D.K. Thakkar & Co appointed for internal audit

Director and Key Managerial Personnel

  • Chairman & Managing Director: Mr. Ashokkumar Thakker (DIN: 02842849)
  • Executive Director: Mr. Piyushkumar Thakkar (DIN: 07555460)
  • Non-Executive Director: Mrs. Dharmisthaben Thakkar (DIN: 03423373)
  • Independent Directors: Mr. Hemang Shah, Mr. Chintan Bha (resigned August 7, 2026), Mr. Krunal Mistry (retired August 2, 2026)
  • Company Secretary & Compliance Officer: Mrs. Ankita Jain (appointed May 26, 2025)
  • Chief Financial Officer: Mr. Chetankumar Modi (appointed September 11, 2019)

Compliance Certifications

  • The company received clean reports from both statutory and secretarial auditors
  • CEO/CFO certification obtained as required under Regulation 17(8) of SEBI LODR
  • Certificate from secretarial auditor confirming compliance with corporate governance requirements
  • Declaration from independent directors confirming their independence

Other Significant Disclosures

  • No material changes affecting financial position occurred between March 31, 2026, and the report date
  • No significant orders passed by regulators/courts impacting going concern status
  • No fraud reported by auditors under Section 143(12) of Companies Act, 2013
  • No cases filed under Sexual Harassment of Women at Workplace Act, 2013
  • The company has adequate internal financial controls systems