Financial Performance Highlights (FY 2025-26)
Net Sales/Income: ₹23.71 lakh (FY25: ₹95.91 lakh)
Other Income: ₹0.27 lakh (FY25: ₹0.01 lakh)
Total Income: ₹23.98 lakh (FY25: ₹95.92 lakh)
Profit/Loss Before Depreciation and Tax: (₹12.14) lakh (FY25: (₹19.74) lakh)
Depreciation: ₹1.27 lakh (FY25: ₹1.60 lakh)
Profit/Loss Before Tax: (₹13.41) lakh (FY25: (₹21.34) lakh)
Provision for Tax: (₹0.14) lakh (FY25: (₹0.35) lakh)
Profit/Loss After Tax: (₹13.55) lakh (FY25: (₹21.69) lakh)
Profit/Loss Brought Forward: (₹55.21) lakh (FY25: (₹33.52) lakh)
Profit/Loss Carried to Balance Sheet: (₹68.76) lakh (FY25: (₹55.21) lakh)
Earnings Per Share (Basic and Diluted): (₹0.36) per share (FY25: (₹0.57) per share)
Strategic Business Update
The company continues to evaluate opportunities in the renewable energy sector and is actively pursuing development of a 20 MW solar power generation project at Mayiladuthurai, Tamil Nadu. The project is proposed to be implemented in phases, with the initial phase comprising approximately 3 MW of solar power generation capacity along with battery energy storage systems. The company proposes to proceed with implementation upon obtaining requisite approvals and completing necessary financial arrangements.
The company is also exploring opportunities in allied areas of the renewable energy ecosystem, including energy storage solutions, power trading and other value-added services.
Annual General Meeting Details
37th AGM Date: Tuesday, September 29, 2026
Time: 11:30 AM
Venue: Through Video Conferencing/Other Audio Visual Means (VC/OAVM) facility with deemed venue at Registered Office: No. 5, Ranganathan Garden, 15th Main Road Extension, Anna Nagar, Chennai-600040
Ordinary Business:
1. Adoption of audited Financial Statements for FY ended March 31, 2026 together with Reports of Board of Directors and Auditors
2. Appointment of Mr. S. A. Premkumar (DIN: 00342952) who retires by rotation and is eligible for re-appointment
E-Voting Schedule:
Record Date: September 22, 2026
E-Voting Period: September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)
Book Closure: September 23, 2026 to September 29, 2026 (both days inclusive)
Corporate Governance & Board Structure
Current Board Composition:
- Mr. S. Elangovan – Managing Director
- Mr. S. A. Premkumar – Director (Retiring by rotation)
- Mrs. Asitha K – Independent Director (Appointed w.e.f August 13, 2025)
- G. Maheswara Reddy – Independent Director (Appointed w.e.f September 29, 2025)
Retired Directors:
- Dr. M. Ramasamy – Independent Director (Retired w.e.f June 28, 2025)
- Mrs. Preethi Natarajan – Independent Director (Retired w.e.f September 29, 2025)
Key Managerial Personnel:
- Mr. S. Elangovan, Managing Director
- Mr. M. Nagarajan, Chief Financial Officer
- Mr. Nitesh Kumar Sharma, Company Secretary
Board Meetings Held:
Four meetings during FY26 on: May 23, 2025; August 13, 2025; November 11, 2025; and February 13, 2026
Dividend Declaration
No dividend recommended for FY 2025-26 due to financial performance and need to ensure liquidity for operations.
Auditor Reports
Statutory Auditors:
M/s. P. Pattabiramen & Co, Chartered Accountants (FRN: 002609S)
Audit Opinion: Qualified Opinion
Qualification Matter: Financial statements include ₹1,09,96,636 under Other Non-Current Assets – Electricity Subsidy receivable pending for a long period. In absence of adequate information regarding present status, auditors are unable to ascertain recoverability of this balance.
Secretarial Auditor:
Mr. S. Ganesan, Company Secretary in practice (Membership Number FCS: 4779)
Audit Opinion: Unqualified opinion with no adverse remarks
Related Party Transactions
Significant related party transactions during FY26:
- Intercompany Transactions/Advertisement Expenses with Cauvery Power Trading Chennai Private Limited: ₹49,49,902/-
- Loans and Advances to Kaveri Gas Power Private Limited: ₹3,16,88,271/-
- Rent paid to Mrs. Praseedha (Relative to Director): ₹55,25,215/-
All transactions were in ordinary course of business and at arm's length basis.
Capital Structure
Authorized Share Capital: ₹50,00,000 (50,00,000 equity shares of ₹10 each)
Issued, Subscribed and Paid-up Capital: ₹38,16,100 (38,16,100 equity shares of ₹10 each)
Forfeited Shares: 22,000 shares (Amount originally paid up: ₹55,000 at ₹2.5 per share)
Major Shareholders (as on March 31, 2026):
- S. Elangovan: 25.00% (9,54,150 shares)
- Cauvery Power Trading Chennai Private Limited: 7.13% (2,72,000 shares)
- S.A. Premkumar: 2.87% (1,09,700 shares)
Important Notes
- Corporate Governance provisions under Regulation 27 of SEBI LODR Regulations are not applicable as paid-up share capital and net worth fall below prescribed thresholds
- CSR provisions under Section 135 of Companies Act, 2013 are not applicable
- Company has no subsidiaries, holding, joint venture or associate companies
- No material events subsequent to date of financial statements
- No fraud reported by auditors under Section 143(12) of Companies Act, 2013
- No deposits accepted from public during the year