Board Meeting Details

The Board of Directors meeting was held on Wednesday, 27th May 2026 at the Registered Office of the Company in Mumbai. The meeting commenced at 04:00 PM and concluded at 07:00 PM.

Key Decisions Approved

1. Audited Financial Results: Approved the Audited Financial Results of the Company for the Quarter and Year ended on 31st March 2026 along with Auditor's Report.

2. Secretarial Auditor Appointment: Appointed M/s. Jitendra Parmar & Associates, Company Secretaries (FRN: S2023GJ903900), Ahmedabad as Secretarial Auditor of the Company for the Financial Year 2025-26 effective 27th May 2026. The firm is described as having over 9 years of experience in corporate laws, financial management, and other allied legal areas.

3. Statement of Deviations/Variations: Approved the Statement of Deviations/Variations for the proceeds of the Preferential Issue of Convertible Warrants for the Half and Year ended on 31st March 2026 as per Regulation 32 of SEBI (LODR) Regulations, 2015.

Financial Results Highlights (Amounts in ₹ Lakhs)

For Year Ended 31st March 2026:

  • Total Revenue: ₹511.37
  • Total Expenses: ₹271.99
  • Profit Before Tax: ₹239.38
  • Tax Expense: ₹70.13 (Current Tax: ₹70.13, Deferred Tax: ₹0.63)
  • Net Profit: ₹169.87
  • Earnings Per Share (Basic & Diluted): ₹3.83

For Quarter Ended 31st March 2026:

  • Total Revenue: ₹76.13
  • Total Expenses: ₹59.78
  • Profit Before Tax: ₹16.35
  • Tax Expense: ₹9.72 (Current Tax: ₹9.49, Deferred Tax: ₹0.23)
  • Net Profit: ₹7.09
  • Earnings Per Share (Basic & Diluted): ₹0.16

Balance Sheet Position as at 31st March 2026 (₹ Lakhs)

  • Total Assets: ₹2,199.92 (Previous year: ₹1,228.11)
  • Non-Current Assets: ₹1,182.34 (Property, Plant & Equipment: ₹133.82, Capital Work-in-Progress: ₹25.92, Non-Current Investments: ₹541.60, Long-term Loans & Advances: ₹472.63, Other Non-Current Assets: ₹8.37)
  • Current Assets: ₹1,017.58 (Inventories: ₹84.76, Trade Receivables: ₹433.18, Cash & Cash Equivalents: ₹37.98, Other Current Assets: ₹461.66)
  • Shareholder's Funds: ₹1,547.73 (Share Capital: ₹786.20, Other Equity: ₹669.63, Money received against Share Warrants: ₹91.90)
  • Current Liabilities: ₹651.90 (Other Current Liabilities: ₹491.01, Short-Term Provisions: ₹79.13, Trade Payables: ₹81.76)

Cash Flow Statement for Year Ended 31st March 2026 (₹ Lakhs)

  • Operating Activities: Net cash used in operations (₹529.17)
  • Investing Activities: Net cash used in investing activities (₹351.24)
  • Financing Activities: Net cash from financing activities ₹774.48
  • Net Change in Cash: Decrease of ₹105.93
  • Cash & Cash Equivalents at End: ₹37.98 (Previous year: ₹143.91)

Subsidiary Information

The Company incorporated/acquired a subsidiary namely Novva Defence Iinds Limited on 30th January 2026. The subsidiary had not commenced business operations up to 31st March 2026 and no financial transactions/material activities were carried out during the period.

Utilization of Preferential Issue Proceeds

The company reported no deviation in utilization of funds raised through preferential issue of convertible warrants. The total amount raised was ₹882 lakh for working capital requirements and ₹294 lakh for general corporate purposes.

Specific utilization details:

  • For tranche received on 20th October 2025 (₹226.80 lakh): ₹179.72 lakh utilized in March quarter (₹170.10 lakh for working capital, ₹56.70 lakh for general corporate purpose)
  • For tranche received on 21st January 2026 (₹379.51 lakh): ₹378.21 lakh utilized in March quarter (₹283.33 lakh for working capital, ₹94.88 lakh for general corporate purpose)

Other Information

  • Number of investor complaints as on 31.03.2026: 0
  • The company follows Indian Accounting Standards (IND AS) with transition date of 1st April 2016
  • The company operates in a single segment: Trading of Agricultural Products