Key Financial Performance (FY 2025-26)

  • Total Income: ₹0.00 (compared to ₹0.47 lakh in previous year)
  • Profit Before Tax: Loss of ₹67.38 lakh (compared to loss of ₹74.28 lakh in previous year)
  • Provision for Taxation: ₹0.00 (compared to ₹0.01 lakh in previous year)
  • Profit After Tax: Loss of ₹67.38 lakh (compared to loss of ₹74.27 lakh in previous year)
  • Accumulated Losses: ₹164.85 lakh carried to balance sheet (increased from ₹97.47 lakh)
  • Earnings Per Share: Basic and diluted EPS of (₹0.90) per share (compared to (₹0.99) in previous year)

Annual General Meeting Details

  • Date: Friday, October 30, 2026
  • Time: 11:30 AM
  • Venue: Registered office at 203, Shyam Kamal A Wing, Tejpal Road, Vile Parle East, Mumbai - 400057
  • Business: Ordinary business to adopt audited financial statements for FY 2025-26
  • Record Date Closure: Register of Members and Share Transfer Books will remain closed from October 23, 2026 to October 29, 2026 (both days inclusive)

Capital Structure

  • Authorized Share Capital: ₹800.00 lakh divided into 80,00,000 equity shares of ₹10 each
  • Paid-up Share Capital: ₹750.00 lakh divided into 75,00,000 equity shares of ₹10 each (unchanged during the year)
  • Major Shareholders: Ravi Rathi (18.31%), Santosh Nagar (9.57%), Athena Advisory Services P Ltd (8.63%)

Operational Highlights

  • The company reported no operational income during the year under review
  • The primary business segment is real estate project advisory and construction
  • Directors expect better results in the coming financial year
  • No dividend recommended for the year
  • No unclaimed dividend amounts
  • No subsidiary companies
  • No significant change in nature of business

Corporate Governance

  • Board Composition: Mr. Brijkishore Kamalnayan, Mr. Ravikant Rathi, Mr. Shashikant Rathi, Mr. Santosh Nagar (Managing Director), Mrs. Asha Maheshwari
  • Key Managerial Personnel: Ms. Urmi Gherwada (Chief Financial Officer)
  • Board Meetings: Four meetings held on May 27, 2025; September 6, 2025; November 14, 2025; and February 27, 2026
  • Committee Meetings: Audit Committee (4 meetings), Nomination and Remuneration Committee (2 meetings), Stakeholders Relationship Committee (1 meeting)
  • The company is exempt from corporate governance compliance requirements due to its size

Auditor Reports

Statutory Auditors (M/s. JMT & Associates, Chartered Accountants):

  • Provided unqualified opinion on financial statements
  • Key audit matters included going concern assessment
  • Reported adequate internal financial controls
  • No fraud reported during the year

Secretarial Auditor (Ms. Maheshwari Neetu & Associates):

  • Identified three compliance exceptions:

1. Non-appointment of Internal Auditor

2. Company reflected as "SDD NON-COMPLIANT" on BSE website despite submitting quarterly compliance certificates

3. Annual Report uploaded under incorrect tab/category on BSE website

  • Otherwise confirmed compliance with applicable laws and regulations

Significant Contingent Liability

  • Disputed income tax liability of ₹1,563.94 lakh for Financial Year 2011-12
  • Company has filed appeal with Commissioner Of Income Tax (Appeal-16), Mumbai
  • No provision made in financial statements based on legal advice

Related Party Transactions

  • Transactions with related parties conducted at arm's length basis
  • Significant balances: Inter Corporate Deposit Payable to Athena Advisory Services Pvt Ltd (₹231.32 lakh)
  • Loan repayments made to Athena Advisory Services Pvt Ltd (₹8.57 lakh) and Arun Rathi

Other Disclosures

  • Banker: HDFC Bank Limited, Mumbai
  • Share Registrar & Transfer Agent: Purva Sharegistry (India) Pvt. Ltd.
  • No deposits accepted from public
  • No material changes or commitments affecting financial position post year-end
  • No significant orders passed by regulators or courts
  • Whistle Blower Policy implemented, no complaints received
  • Sexual Harassment Policy implemented, no complaints received
  • CSR provisions not applicable to the company

Cash Flow Summary (₹ in lakhs)

  • Operating Activities: Net cash used (₹73.74)
  • Investing Activities: Net cash from investing ₹125.36
  • Financing Activities: Net cash used (₹442.99)
  • Net Increase in Cash: ₹8.62
  • Cash and Cash Equivalents at year-end: ₹9.08