Key Financial Figures

Financial Performance FY 2025-26:

  • Revenue from Operations: ₹3,010.80 lakhs (decreased from ₹5,731.42 lakhs in FY 2024-25)
  • Other Income: ₹7.57 lakhs (decreased from ₹10.97 lakhs in FY 2024-25)
  • Total Revenue: ₹3,018.37 lakhs (decreased from ₹5,742.39 lakhs in FY 2024-25)
  • Total Expenses: ₹3,933.04 lakhs (decreased from ₹5,682.77 lakhs in FY 2024-25)
  • Profit Before Tax: (₹914.67 lakhs) loss (compared to ₹59.62 lakhs profit in FY 2024-25)
  • Current Tax: ₹0 lakhs (compared to ₹20.45 lakhs in FY 2024-25)
  • Deferred Tax Liability: ₹31.12 lakhs (compared to ₹13.89 lakhs benefit in FY 2024-25)
  • Net Profit After Tax: (₹945.79 lakhs) loss (compared to ₹53.06 lakhs profit in FY 2024-25)

Capital Structure:

  • Authorized Share Capital: ₹11,00,00,000 divided into 1,10,00,000 equity shares of ₹10 each
  • Issued, Subscribed and Paid-up Capital: ₹7,77,87,950 divided into 77,78,795 equity shares of ₹10 each
  • The company forfeited 9,00,000 convertible warrants issued on preferential basis at ₹109 per warrant on February 24, 2026

Key Balance Sheet Figures (as of March 31, 2026):

  • Total Assets: ₹6,469.09 lakhs
  • Inventories: ₹2,363.23 lakhs
  • Trade Receivables: ₹874.38 lakhs
  • Cash and Cash Equivalents: ₹121.75 lakhs
  • Total Equity: ₹1,318.07 lakhs
  • Reserves and Surplus: ₹540.19 lakhs
  • Long-term Borrowings: ₹1,623.56 lakhs
  • Short-term Borrowings: ₹2,189.58 lakhs
  • Trade Payables: ₹1,173.49 lakhs

Dates of Action

  • AGM Date: September 23, 2026 at 3:00 PM through Video Conferencing
  • Cut-off date for e-voting: September 16, 2026
  • Remote e-voting period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)
  • Register of Members closure: September 17, 2026 to September 23, 2026 (both days inclusive)
  • Board meetings held during FY 2025-26: 7 meetings on May 26, 2025; July 29, 2025; August 21, 2025; September 4, 2025; October 3, 2025; January 21, 2026; February 24, 2026

Parties Involved

  • Stock Exchange: BSE Limited
  • Registrar & Transfer Agent: Bigshare Services Pvt. Ltd.
  • Statutory Auditors: M/s. Suvarna & Katdare, Chartered Accountants
  • Secretarial Auditor: M/s. Mayank Arora & Co., Practicing Company Secretaries
  • Scrutinizer for e-voting: M/s. Mayank Arora & Co.
  • Banker: Union Bank of India, Mumbai

Business Operations

The company is engaged in manufacturing Air Coolers, Semi Auto Washing Machines, and Electric Geysers as an Original Equipment Manufacturer (OEM). It has two manufacturing units located at Palghar, Maharashtra, admeasuring 1,80,000 Sq. Ft. The company has four departments: Production, Moulding, Administration, and Logistics.

Corporate Actions

AGM Agenda Items:

1. To receive, consider and adopt the Audited Standalone Financial Statements for FY 2025-26

2. To appoint Mr. Shakir Khan (DIN: 07719992) as Director who retires by rotation

Director Details for Reappointment:

  • Name: Shakir Khan
  • DIN: 07719992
  • Date of Birth: July 1, 1973
  • Date of Appointment: January 2, 2023
  • Expertise: Factory Operation Head
  • Qualifications: BA Graduate
  • Equity shares held: 22,83,705 shares
  • Board meetings attended: 7 out of 7
  • Remuneration: ₹11,66,333 for FY 2025-26
  • Relationship: Brother-in-law of Mr. Khursheed Alam (Managing Director)

Related Party Transactions

During FY 2025-26, the company entered into the following material related party transactions at arm's length basis:

  • Sales to WJT India Pvt Ltd: ₹41.20 lakhs
  • Purchases from WJT India Pvt Ltd: ₹0.85 lakhs
  • Rent paid to WJT India Pvt Ltd: ₹3.05 lakhs
  • Loans taken from Troupe Technologies Pvt Ltd: ₹500.00 lakhs
  • Loans taken from WJT India Pvt Ltd: ₹100.00 lakhs
  • Loans taken from Mehboob Alam (Director): ₹80.00 lakhs
  • Loans repaid to WJT India Pvt Ltd: ₹45.00 lakhs
  • Loans repaid to Shakir Khan (Director): ₹10.00 lakhs
  • Remuneration to Khursheed Alam: ₹58.19 lakhs
  • Remuneration to Mehboob Alam: ₹24.40 lakhs
  • Remuneration to Shakir Khan: ₹11.66 lakhs

Capital Structure Impact

No change in share capital during the year. The forfeiture of 9,00,000 convertible warrants did not impact the issued capital as these were not converted to equity.

Cash Flow Implications

The company reported negative cash flow from operating activities of ₹523.88 lakhs. Cash used in investing activities was ₹452.74 lakhs, primarily for purchase of property, plant and equipment. Cash flow from financing activities was positive ₹986.28 lakhs, mainly from additional borrowings.

Management Commentary

The management attributed the decline in revenue to an extended and prolonged rainy season which continued until November 2025, significantly shortening the cooling season and reducing demand for air coolers. Finished goods inventory remained with customers due to subdued market demand, resulting in lower fresh orders. The company is witnessing a stronger order pipeline with the commencement of the new season.

Forward-looking Plans

The company plans to diversify its product portfolio by commencing manufacturing of Infrared Cooktops and Air Fryers to strengthen its presence in the kitchen appliance segment.

Governance and Compliance

  • The company has complied with all applicable Secretarial Standards
  • No material related party transactions exceeding 10% of annual turnover
  • No funds were required to be transferred to Investor Education and Protection Fund
  • No frauds reported by the auditors under section 143(12) of Companies Act, 2013
  • No significant material orders passed by regulators or courts
  • The company has adequate internal financial controls and risk management framework

Dividend Declaration

No dividend recommended for FY 2025-26 to preserve funds for future business endeavors.

Key Managerial Personnel

  • Mr. Khursheed Alam: Managing Director & CFO
  • Ms. Anshita Malani: Company Secretary & Compliance Officer (appointed w.e.f October 4, 2025, replacing Ms. Malvika Jagani)