Key Financial Figures (FY 2025-26 vs FY 2024-25)

  • Revenue from Operations: ₹6,223.02 lakhs (Previous: ₹5,652.98 lakhs)
  • Other Income: ₹182.80 lakhs (Previous: ₹50.93 lakhs)
  • Total Revenue: ₹6,405.82 lakhs (Previous: ₹5,703.91 lakhs)
  • Total Expenses: ₹5,904.10 lakhs (Previous: ₹5,316.32 lakhs)
  • Profit Before Tax: ₹501.72 lakhs (Previous: ₹387.59 lakhs)
  • Tax Expense: ₹129.05 lakhs (Previous: ₹119.76 lakhs)
  • Profit After Tax: ₹372.67 lakhs (Previous: ₹267.83 lakhs) - 39.14% increase
  • Total Comprehensive Income: ₹288.65 lakhs (Previous: ₹309.68 lakhs) - 6.79% decrease
  • Earnings Per Share (EPS): ₹5.93 (Previous: ₹4.26)
  • Paid-up Share Capital: ₹314.00 lakhs (62,80,000 equity shares of ₹5.00 each)

Dividend Declaration

The Board did not recommend any dividend for FY 2025-26 to fund new projects, maintain working capital cycle, and support financial arrangements involving mutual fund investments for bank guarantees.

Share Capital Structure

  • Authorized Capital: ₹400.00 lakhs (80,00,000 equity shares of ₹5.00 each)
  • Paid-up Capital: ₹314.00 lakhs (62,80,000 equity shares of ₹5.00 each)
  • No shares issued with differential rights, sweat equity shares, or ESOPs during the year

AGM Details

  • 52nd Annual General Meeting: Tuesday, September 29, 2026 at 2:30 PM IST
  • Meeting Mode: Video Conference/Other Audio Visual Means (VC/OAVM)
  • Deemed Venue: Registered Office at Mumbai
  • Business:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mr. Jimish Jitendra Sura (DIN: 03096064) who retires by rotation

  • Record Date: September 22, 2026
  • Book Closure: September 23, 2026 to September 29, 2026 (both days inclusive)

Board of Directors

  • Mr. Jitendra S. Sura (DIN: 00480172) - Chairman & Managing Director
  • Mr. Jimish J. Sura (DIN: 03096064) - Executive Director - Finance & CFO
  • Mr. Sunil Vakil (DIN: 02527630) - Additional Independent Director (w.e.f. August 13, 2024)
  • Mr. Nirmal Parikh (DIN: 07507113) - Independent Director
  • Mr. Jignesh Shah (DIN: 01790926) - Independent Director
  • Mrs. Pooja Sura (DIN: 03565146) - Non-Executive Director

Key Managerial Personnel Changes

  • Mr. Narendra Shah resigned as Company Secretary effective July 1, 2026
  • Ms. Gandhali Paluskar appointed as Company Secretary effective August 11, 2026

Registered Office & Branches

  • Branch Office: 2nd Floor, Bombay Shopping Centre, R.C. Dutt Road, Vadodara-390007
  • No change in registered office during the financial year

Related Party Transactions

All related party transactions were at arm's length basis and in ordinary course of business, including:

  • Rent payments to directors: ₹600.00 (Jitendra Sura), ₹2,340.00 (Jitendra Sura HUF), ₹4,680.00 (Prachi Desai)
  • Remuneration: ₹27,300.00 (Jitendra Sura), ₹40,137.33 (Jimish Sura)
  • Material purchases: ₹5,747.62 from Standard Belex India Pvt Ltd (where director has interest)
  • Partnership investments: ₹38.06 in Clue Real Estate Marketing Enterprises LLP, ₹2,38,135.12 in Edifine Lifespace LLP

Corporate Governance Compliance

The company complied with corporate governance requirements under Companies Act, 2013 and SEBI LODR Regulations, 2015, with the following committee structure:

  • Audit Committee: Mr. Sunil Vakil (Chairman), Mr. Nirmal Parikh, Mr. Jignesh Shah, Mr. Jimish Sura - met 4 times
  • Nomination & Remuneration Committee: Mr. Jignesh Shah (Chairman), Mr. Nirmal Parikh, Mr. Sunil Vakil - met 2 times
  • Stakeholders Relationship Committee: Mr. Nirmal Parikh (Chairman), Mr. Sunil Vakil, Mr. Jignesh Shah, Mr. Jimish Sura - met 4 times

Secretarial Audit Qualifications

The Secretarial Audit Report by M/s. Sanjay Dholakia & Associates contained qualified remarks regarding:

  • Non-compliance with maintaining Structured Digital Database as per Regulation 3(5) and 3(6) of SEBI (PIT) Regulations
  • Delayed filing of Annual Declaration under Regulation 31(4) of SEBI (SAST) Regulations with BSE
  • Non-inclusion of mandatory QR code in newspaper advertisement under Regulation 47(1) of SEBI LODR Regulations
  • Failure to intimate stock exchanges about newspaper advertisement clip for 51st AGM notice

The company has submitted explanations and hopes for favorable resolution.

Litigation Details

  • Service Tax: ₹10.78 lakhs disputed for FY 2012-13 to 2014-15 pending with CESTAT
  • GST: ₹14.47 lakhs disputed for FY 2017-18 and ₹1.39 lakhs for FY 2018-19 pending with GSTAT

Shareholding Pattern (as of March 31, 2026)

  • Promoters: 44.24% (27,78,352 shares)
  • Public: 50.29% (31,54,210 shares)
  • IEPF: 5.53% (3,47,398 shares)
  • Dematerialized Shares: 95.69% of total equity shares

Other Significant Disclosures

  • No frauds reported by auditors under Section 143(12)
  • No applications made or pending under Insolvency and Bankruptcy Code
  • No deposits accepted under Chapter V of Companies Act, 2013
  • Company is debt-free with strong current ratio of 4.07x
  • No CSR applicability as company doesn't meet specified parameters
  • No sexual harassment complaints received or pending during the year