Key Financial Figures

Financial Performance (₹ in lakhs)

  • Gross Income: ₹4,325.14 (FY26) vs ₹3,130.77 (FY25)
  • Revenue from Operations: ₹4,308.84 (FY26) vs ₹3,128.89 (FY25) - 37.72% growth
  • Profit/(Loss) before exceptional items and tax: ₹16.88 (FY26) vs (₹95.98) (FY25)
  • Net Profit/(Loss) after tax: ₹16.88 (FY26) vs ₹41.49 (FY25)
  • Total Comprehensive Income: ₹44.87 (FY26) vs ₹277.71 (FY25)
  • Earnings per share: ₹0.00 (FY26) vs ₹0.12 (FY25)

Balance Sheet Position (as at March 31, 2026)

  • Paid-up equity share capital: ₹34,88,34,380 (3,48,83,438 equity shares of ₹10 each)
  • Reserves: (₹2,421.76 lakhs)
  • Loan Funds: ₹2,032.54 lakhs
  • Total Assets: ₹9,704.10 lakhs

Operational Performance

  • Company demonstrated marginal operational income with improved business momentum
  • Revenue growth attributed to stronger order execution and improved project activity
  • Successful transition from loss-making position to profitability during current year
  • Notable progress in timely collection of receivables contributing to improved cash flow

Share Capital Changes

  • Authorized share capital: ₹72,00,00,000 (5,20,00,000 equity shares of ₹10 each + 2,00,00,000 preference shares of ₹10 each)
  • Preferential allotment of 16,49,840 equity shares at ₹40.05 per share (including premium of ₹30.05) approved on March 27, 2025
  • Allotment made on May 8, 2025, increasing paid-up capital from ₹33,23,36,000 to ₹34,88,34,380
  • 99.87% of paid-up equity share capital in dematerialized form as of March 31, 2026

Statutory Auditors' Emphasis of Matter

M/s. CNGSN & Associates LLP included emphasis matters in their report:

1. Delayed statutory dues: Delay in remittance of GST, TDS, EPF, ESI with applicable interest. TDS for February and March 2026 remained unpaid at reporting date.

2. TDS on interest payments: TDS deducted but unpaid on certain unsecured loan interest payments. TDS neither deducted nor remitted on certain other interest payments.

3. MSME dues: Unpaid dues to Micro, Small and Medium Enterprises including interest aggregating to ₹10,05,21,229 beyond prescribed due dates.

4. Loan repayment delays: Outstanding long-term loan repayments not made as per scheduled due dates, settled subsequently.

5. Provident Fund matter: PF exemption notice for recoupment of loss amounting to ₹1.06 crore - ₹25 lakh paid during FY26, ₹81 lakh unpaid but provision created.

6. GST verification limitation: Comprehensive verification difficult due to voluminous transactions, procedures performed on test-check basis.

Management Response to Emphasis Matters

1. Statutory dues delay: Attributable to temporary operational and liquidity constraints. Steps taken to regularize outstanding dues and strengthen internal monitoring. TDS for February and March 2026 since remitted.

2. TDS matters: Management reviewing applicable legal position and undertaking corrective actions.

3. MSME dues: Delay due to temporary cash flow constraints and operational delays. Dues appropriately recognized and company engaging with MSME vendors for phased settlement.

4. Loan repayments: Delays due to temporary cash flow constraints. Repayments subsequently regularized.

5. PF matter: ₹25 lakh discharged during FY26, appropriate provision created for balance ₹81 lakh. Company engaging with relevant authorities.

6. GST verification: Appropriate internal controls and review mechanisms in place for monitoring GST compliance and ITC claims.

Corporate Governance

Board Composition (as of March 31, 2026)

  • Mr. G V Manimaran: Chairman & Managing Director (DIN: 09707546)
  • Mrs. R S Isabella: Non-Executive, Independent Director (DIN: 06871120)
  • Mr. Nallusamy Elangovan: Non-Executive, Independent Director (DIN: 03293596)
  • Dr. Ravi Muthusamy: Non-Executive, Independent Director (DIN: 08066520)
  • Dr. Ennarasu Karunesan: Non-Executive, Non-Independent Director (DIN: 00200432)
  • Mr. Baskaran: Non-Executive Director (DIN: 01918525) - Resigned May 25, 2026

Subsequent Changes

  • Dr. Swetha (DIN: 01728751) appointed as Additional Director (Non-Executive, Non-Independent) effective May 25, 2026
  • Appointment approved by shareholders via Postal Ballot results declared July 11, 2026

Board Meetings

  • 7 Board meetings held during FY 2025-26
  • Dates: May 20, 2025; June 27, 2025; August 13, 2025; September 10, 2025; November 11, 2025; February 11, 2026; March 24, 2026

Related Party Transactions

Material contracts/arrangements at arm's length basis during FY 2025-26:

  • Bharath Medical College and Hospital: Sale of Construction Services - ₹68.30 lakhs
  • Bharath Institute of Higher Education: Sale of Construction Services - ₹1,547.01 lakhs
  • Lakshmi Ammal Educational Trust: Sale of Construction Services - ₹1,567.63 lakhs
  • Kalaimaran Apartments: Sale of construction services - ₹12.30 lakhs
  • Sameera Estates Private Limited: Sale of construction services - (₹87.35) lakhs
  • Silver Sands Beach Resort: Sale of Construction Services - ₹800.00 lakhs

All transactions approved by Board on respective dates and conducted at arm's length.

Annual General Meeting Details

  • 78th AGM Date: Tuesday, September 29, 2026
  • Time: 2.30 P.M. (IST)
  • Mode: Video Conference (VC) / Other Audio Visual Means (OAVM)
  • Book Closure: September 22, 2026 to September 29, 2026 (both days inclusive)

Business Items for AGM

Ordinary Business

1. Adoption of Financial Statements for year ended March 31, 2026

2. Re-appointment of Dr. Ennarasu Karunesan (DIN: 00200432) as Non-Executive Director liable to retire by rotation

Special Business

3. Approval of material related party transactions with Sri Lakshmi Ammal Educational Trust (aggregate value not exceeding ₹200 crores)

4. Approval of material related party transaction limits with Unnmaii Financial Services Private Limited (borrowing up to ₹10 crores)

Regulatory Compliance Issues

  • Delayed filing of related party transactions disclosure for half-year ended September 30, 2025 by one day under Regulation 23(9)
  • Fine of ₹5,900 (inclusive of GST) levied by BSE Limited and paid by Company
  • Previous penalty of ₹1,05,000 paid on April 11, 2025 for rejected waiver application

Voting Arrangements

  • Remote e-voting period: September 24, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)
  • Scrutinizer: Mrs. Vidhya Sivakumar of M/s. Vidhya & Associates, Company Secretaries
  • AGM conducted through video conferencing facility only