Key Financial Figures

Financial Performance (Amount in ₹ Lakhs):

  • Sales Turnover: ₹1,502.06 (Previous year: ₹1,601.44) - decrease of 6.21%
  • Profit Before Depreciation and Tax (PBDT): ₹43.45 (Previous year: ₹67.11)
  • Net Profit After Tax: ₹11.78 (Previous year: ₹23.62) - decrease of 47%
  • Total Comprehensive Income: ₹11.78 (Previous year: ₹23.62)

Capital Structure:

  • Authorized Share Capital: ₹375.00 lakh (37,50,000 shares of ₹10 each)
  • Issued Share Capital: ₹350.00 lakh (35,00,000 shares of ₹10 each)
  • Paid-up Share Capital: ₹339.75 lakh (33,97,500 shares of ₹10 each)
  • Capital consists only of equity shares; no changes during the year

Balance Sheet Position (as at 31st March 2026):

  • Total Assets: ₹954.32 lakh (Previous year: ₹807.16 lakh)
  • Total Equity: ₹683.52 lakh (Previous year: ₹671.74 lakh)
  • Non-current Assets: ₹632.91 lakh (including Property, Plant & Equipment: ₹271.67 lakh, Investments: ₹352.99 lakh)
  • Current Assets: ₹321.41 lakh (including Inventories: ₹141.85 lakh, Trade Receivables: ₹100.27 lakh, Cash: ₹48.10 lakh)
  • Borrowings: ₹150.00 lakh (Previous year: ₹23.12 lakh) - significant increase

Ratios:

  • Debt-Equity Ratio: 0.22 times (Previous year: 0.03 times)
  • Return on Equity: 1.74% (Previous year: 3.58%)
  • Net Profit Ratio: 0.78% (Previous year: 1.47%)
  • Return on Capital Employed: 2.58% (Previous year: 5.33%)

Dividend Declaration

No dividend recommended for FY 2025-2026 to strengthen long-term resources. No amount transferred to reserves.

AGM Details

The 32nd Annual General Meeting will be held on Friday, 25th September 2026 at 11:00 AM through Video Conferencing/Other Audio Visual Means (VC/OAVM) to transact:

Ordinary Business:

1. To receive, consider and adopt Audited Financial Statements for FY ended 31st March 2026 with Directors' and Auditors' reports

2. To appoint director in place of Mrs. Kantaben Panchal (DIN: 00598256) who retires by rotation

Record Date: 18th September 2026

Remote e-Voting Period: 22nd September 2026 (9:00 AM) to 24th September 2026 (5:00 PM)

Corporate Updates

Board Composition:

  • Mr. Ashish D. Panchal: Chairman & Managing Director (DIN: 00598209)
  • Mrs. Kantaben D. Panchal: Director (DIN: 00598256)
  • Mrs. Khusboo Fenil Kansara: Independent Director
  • Mr. Shrikant Kodarlal Priyadarshi: Independent Director (appointed w.e.f. 03 October 2024)

Key Managerial Personnel Changes:

  • Ms. Dipti Sharma resigned as Company Secretary w.e.f. 31st July 2025
  • Mrs. Krushi Jainam Sanghavi appointed as Company Secretary w.e.f. 07th August 2025
  • Mr. Kalpesh Navinchandra Kansara continues as Chief Financial Officer

Board Meetings:

Four meetings held during the year on: 21st May 2025, 7th August 2025, 11th November 2025, and 23rd January 2026

Auditors:

  • Statutory Auditors: M/s. M. R. Pandhi & Associates, Chartered Accountants (Firm Regn. No. 112360W) appointed until 31st March 2027
  • Secretarial Auditor: M/s. Kamlesh M Shah & Co., Practising Company Secretary
  • Both auditors issued unqualified reports with no adverse remarks

Listing Status:

Equity shares listed on Bombay Stock Exchange Limited (BSE). Company registered with both NSDL and CDSL for dematerialization.

Corporate Governance:

Company exempt from certain corporate governance provisions under Regulation 15(2)(a) of SEBI LODR Regulations 2015 as paid-up capital (₹3.40 crore) and net worth (₹6.72 crore) are below threshold limits.

Operational Highlights

Business Performance:

Company engaged in manufacturing of PVC pipes. Faced pricing volatility in PVC raw material leading to reduced sales realization despite stable volume demand.

Investments:

Maintained investments in mutual funds totaling ₹352.99 lakh (Previous year: ₹307.41 lakh) across various schemes including DSP Flexi Cap Fund, ICICI Prudential Active Momentum, and others.

Risk Management:

Company has risk management framework identifying business risks and opportunities. Main risks include raw material price volatility, import dependence for PVC resin, and regulatory compliance requirements.

Important Notes

  • No material changes between financial year end and date of board report
  • No significant orders passed by regulators/courts impacting going concern status
  • No subsidiaries, joint ventures, or associates
  • No corporate social responsibility requirement under Section 135(1) of Companies Act 2013
  • No deposits accepted from public during the year
  • No related party transactions attracting Section 188 of Companies Act 2013
  • No funds required to be transferred to Investor Education and Protection Fund (IEPF)

Auditor References

All reports filed under relevant regulations including Regulation 34 of SEBI LODR Regulations 2015.

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