Board Meeting Details

The Board of Directors meeting was held on May 28, 2026, commencing at 5:30 PM and concluding at 7:30 PM. The audit committee reviewed and took on record the audited results on May 26, 2026.

Financial Results Summary (₹ in '000)

Quarterly Performance (Q4 FY26)

  • Revenue from Operations: ₹71,605.31 (vs ₹71,127.68 in Q4 FY25)
  • Other Income: ₹4,991.41 (vs ₹543.98 in Q4 FY25)
  • Total Revenue: ₹76,596.72 (vs ₹71,671.66 in Q4 FY25)
  • Total Expenses: ₹71,130.66
  • Profit Before Tax: ₹5,466.06 (vs ₹5,208.13 in Q4 FY25)
  • Net Profit: ₹4,500.98 (vs ₹4,388.51 in Q4 FY25)
  • Basic EPS: ₹0.29 (vs ₹0.28 in Q4 FY25)

Annual Performance (FY26)

  • Revenue from Operations: ₹316,261.89 (vs ₹325,706.89 in FY25)
  • Other Income: ₹17,882.82 (vs ₹7,063.78 in FY25)
  • Total Revenue: ₹334,144.71 (vs ₹332,770.67 in FY25)
  • Total Expenses: ₹303,868.24 (vs ₹299,315.70 in FY25)
  • Profit Before Tax: ₹30,276.47 (vs ₹33,454.97 in FY25)
  • Net Profit: ₹22,860.68 (vs ₹25,289.74 in FY25)
  • Basic EPS: ₹1.48 (vs ₹1.63 in FY25)
  • Paid-up Equity Share Capital: ₹30,944.00 (unchanged)
  • Reserves & Surplus: ₹107,210.71 (vs ₹84,493.70 in FY25)

Balance Sheet Position as at March 31, 2026 (₹ in '000)

  • Total Assets: ₹166,895.91 (vs ₹149,307.11 in FY25)
  • Current Assets: ₹150,466.24 (includes inventories ₹16,429.67, trade receivables ₹119,941.39)
  • Equity: ₹138,154.71 (share capital ₹30,944.00 + other equity ₹107,210.71)
  • Current Liabilities: ₹28,126.30
  • Non-Current Liabilities: ₹614.90

Cash Flow Statement (FY26, ₹ in '000)

  • Cash from Operating Activities: ₹8,020.89
  • Cash used in Investing Activities: ₹(5,351.11)
  • Cash from Financing Activities: ₹(135.52)
  • Net Increase in Cash: ₹2,534.26
  • Cash & Cash Equivalents at year-end: ₹3,791.00

Audit Report Qualifications

Independent auditors P. Indrajit & Associates issued a qualified opinion citing three main issues:

1. Employee Benefit Obligations: Company has not carried out actuarial valuation of defined benefit obligations relating to gratuity and leave encashment as required by Ind AS 19. Consequently, employee benefit liabilities, deferred tax assets/liabilities, and corresponding expense items are unstated. Financial impact cannot be determined.

2. Foreign Investment Valuation: Investment in equity shares of foreign associate Contil Canada Limited carried at cost of ₹36.73 lakh (same as previous year). In absence of relevant documents, auditors cannot determine whether impairment or valuation adjustments are necessary.

3. Transfer Pricing Documentation: Company has entered into material international transactions with associate entities outside India but is still compiling transfer pricing documentation. Auditors unable to comment whether arm's length adjustments are required.

Management's Response to Qualifications

Management provided the following responses in the Impact of Audit Qualifications statement:

1. Employee Benefits: Stated that number of employees is less than 10 and has no material impact. Company has taken Click2Retire policy from HDFC.

2. Foreign Investment: Contil Canada is an ODI investment approved by RBI since 2007, not a fresh investment. All compliances done regularly and management sees no material impact.

3. Transfer Pricing: All transactions entered at arm's length price. Necessary TP audit compliances will be completed before due date with no impact on financial statements.

Management concluded that the audit qualifications are "not quantifiable" and have "no impact" on the financial statements.

Additional Information

  • Company's main business: Merchant Export Trading
  • Revenue from operation includes appropriate other income
  • Figures have been regrouped whenever necessary
  • Company did not declare or pay any dividend during the year
  • No pending litigations impacting financial position
  • No material foreseeable losses on long-term contracts
  • No delay in transferring amounts to Investor Education and Protection Fund