Financial Performance Summary

For the financial year ended March 31, 2026:

  • Total Expenses: ₹26,90,165 (Previous year: ₹16,44,854)
  • Net Loss: ₹26,90,165 (Previous year: ₹16,44,854)
  • Loss per Share (Basic & Diluted): -₹0.78 (Previous year: -₹0.48)
  • Cash and Cash Equivalents: ₹1,01,800 (Previous year: ₹35,200)
  • Total Borrowings (Unsecured, from Related Parties): ₹1,80,21,200 (Previous year: ₹1,63,13,400)
  • Share Capital: ₹34,48,800 (3,448,800 equity shares of ₹10 each)
  • Negative Other Equity: ₹-5,04,36,100 (Previous year: ₹-4,77,45,900)

Annual General Meeting Details

The 41st Annual General Meeting will be held on Wednesday, September 30, 2026 at 01:00 PM (IST) through Video Conferencing/Other Audio-Visual Means.

Ordinary Business:

1. To receive, consider and adopt the audited financial statements for year ended March 31, 2026

2. To appoint Mr. Chetas Ashwin Shah (DIN: 06783061) who retires by rotation

Special Business:

3. Regularization of appointment of Ms. Preetraj Gulati (DIN: 11789314) as Non-Executive, Independent Director for a term of five years from July 06, 2026 to July 05, 2031

Board and Management Changes

  • Ms. Jasmeet Kaur Saluja was appointed as Company Secretary and Compliance Officer effective August 01, 2025
  • Ms. Geeta Pandurang Sawant retired as Independent Director effective July 30, 2026
  • Ms. Preetraj Gulati was appointed as Additional Director (Non-Executive, Independent) effective July 06, 2026

Operational Highlights

The company did not carry out any business activities during the year under review. The directors are considering various options to recommence business activities wherein the promoters have core competency.

Key Financial Ratios

  • Current Ratio: 0.06 (Previous: 0.06)
  • Debt-Equity Ratio: -1.13 (Previous: -123.05)
  • Return on Equity: 0.17 (Previous: 12.41)
  • Return on Capital Employed: -1.30 (Previous: -53.83)

Property, Plant and Equipment

The company's property, plant and equipment remained unchanged at ₹37,16,100, consisting of:

  • Factory Premises: ₹30,52,200
  • Lease Hold Land: ₹1,50,100
  • Free Hold Land: ₹5,13,800

Auditor Reports

Statutory Auditors (M/s SSRV & Associates):

  • Issued unqualified opinion on financial statements
  • Reported adequate internal financial controls
  • No fraud reported during the year

Secretarial Auditors (M/s Harsh Hiren Shah & Associates):

Noted the following non-compliances:

1. Non-payment of listing fees to regional stock exchanges (CSE and ASE)

2. Non-compliance with SEBI LODR Regulations regarding regional stock exchanges

3. 100% of promoter holding not in dematerialized form (Regulation 31)

4. No Company Secretary appointed from April 1, 2025 to July 31, 2025

5. Website non-operational till August 31, 2025

Management Response:

  • Process of delisting from regional stock exchanges initiated
  • Promoters in process of converting shareholding to dematerialized form
  • Website restored and operational from September 1, 2025

Shareholding Pattern

Major shareholders (holding more than 5%):

  • Nayan J. Vikamsey: 257,700 shares (7.47%)
  • Pushpaben S. Shah: 237,700 shares (6.89%)

Record Date and Share Transfer

  • Register of Members and Share Transfer Books will be closed from September 24, 2026 to September 30, 2026 (both days inclusive)
  • Cut-off date for e-voting: September 23, 2026

Remote E-Voting Details

  • Remote e-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
  • Scrutinizer: Mr. Harsh Hiren Shah, Proprietor of M/s. Harsh Hiren Shah & Associates, Company Secretaries

Other Disclosures

  • No dividend declared for the financial year
  • No amounts transferred to reserves
  • No subsidiary, associate or joint venture companies
  • No material changes and commitments affecting financial position post year-end
  • No deposits accepted from public
  • No significant material orders passed by regulators/courts
  • No related party transactions requiring disclosure
  • No CSR activities undertaken (not applicable to company)