Key Financial Figures
- Revenue from operations: Nil for FY 2025-26 (Previous year: Nil)
- Total income: Nil for FY 2025-26 (Previous year: Nil)
- Profit/(Loss) before tax: (₹33.37 lakh) for FY 2025-26 (Previous year: (₹31.48 lakh))
- Profit/(Loss) after tax: (₹40.18 lakh) for FY 2025-26 (Previous year: (₹31.48 lakh))
- Other Comprehensive Income: (₹6.81 lakh) for FY 2025-26 (Previous year: Nil)
- Total Comprehensive Income: (₹40.18 lakh) for FY 2025-26 (Previous year: (₹31.48 lakh))
- Earnings per share: (₹0.29) for FY 2025-26 (Previous year: (₹0.27))
- Net worth: Negative ₹186.73 crore as of March 31, 2026 (Previous year: Negative ₹182.71 crore)
Financial Position as of March 31, 2026
- Property, plant and equipment: ₹55,050 (Net carrying amount)
- Inventories: ₹734.21 lakh (including projects under development ₹732.71 lakh and finished goods ₹1.50 lakh)
- Cash and cash equivalents: ₹82,810
- Loan from Director: ₹1,431.06 lakh (unsecured, interest-free, repayable on demand)
- Total assets: ₹752.81 lakh
- Total liabilities: ₹752.81 lakh
AGM Details
- Date: Wednesday, September 30, 2026
- Time: 1:00 PM IST
- Mode: Video Conference/Other Audio-Visual Means
- Record Date: September 23, 2026
- Book Closure: September 24, 2026 to September 30, 2026 (both days inclusive)
- E-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
Agenda Items
Ordinary Business
1. Adoption of audited financial statements for FY ended March 31, 2026
2. Reappointment of Santhosh Joseph Karimattom (DIN: 00998412) as Director retiring by rotation
3. Reappointment of Juliana Santhosh (DIN: 08551525) as Director retiring by rotation
Special Business
4. Approval of material related party transaction - unsecured loan from Mr. Santhosh Joseph Karimattom, Managing Director, not exceeding ₹20 crore in addition to existing loan of ₹14.31 crore
5. Reappointment of Mr. Anup Kumar (DIN: 00017047) as Non-Executive Director
6. Appointment of Mr. Parapattu Varughese Nainan (DIN: 11871483) as Independent Director for 5 years
Related Party Transaction Details
The company seeks approval for additional unsecured loan of up to ₹20 crore from Mr. Santhosh Joseph Karimattom, Managing Director, out of his earned income. This will be in addition to the existing loan of ₹14,31,05,754. The loan will be given in installments according to fund requirements, with the main condition that the lender has the option to convert the loan amount to equity in part or full.
Director Changes
- Mr. Roy Moolayil Sebastian (DIN: 01886479) resigned during the current year
- Mr. Parapattu Varughese Nainan proposed as new Independent Director
Board Composition
As of March 31, 2026, the Board consisted of:
- 2 Independent Directors
- 2 Promoter/Executive Directors
- 1 Non-Executive Director
Board Meetings
6 Board meetings held during FY 2025-26 with attendance ranging from 3 to 5 directors
Key Management Personnel
- Santhosh Joseph Karimattom - Managing Director
- T.N. Sajeevan - Chief Financial Officer
- Vidhya KV - Company Secretary (appointed w.e.f January 8, 2026)
Shareholding Pattern
- Promoter Group: 71.81% (84,02,132 shares)
- Public Holding: 28.19%
- Total Shares: 1,17,01,100 equity shares of ₹10 each
- Physical Shares: 19.69% (held by 6,473 shareholders)
- Electronic Shares: 80.31% (held by 2,078 shareholders)
Operational Status
The company had no commercial activity during the year and could not generate any revenue due to reasons beyond control. The company is awaiting approvals and permissions to commence its project at Panangad, Kerala.
Liquidity and Going Concern
The auditors' report indicates that the company's ability to fulfill its liabilities is dependent on support provided by the promoter. The company incurred cash losses of ₹33.31 lakh during FY 2025-26 and ₹31.42 lakh during FY 2024-25.
Corporate Governance Compliance
The company has complied with mandatory corporate governance requirements specified in SEBI LODR Regulations. The secretarial audit report does not contain any qualifications, reservations or adverse remarks.