Financial Performance Summary (FY 2025-26)

Income Statement Highlights:

  • Total Income: ₹2970.14 lakhs (Previous year: ₹2024.73 lakhs)
  • Total Expenses: ₹2913.88 lakhs (Previous year: ₹1965.37 lakhs)
  • Profit before Depreciation and Taxation: ₹92.84 lakhs (Previous year: ₹59.36 lakhs)
  • Depreciation: ₹36.59 lakhs (Previous year: ₹37.89 lakhs)
  • Profit before Tax: ₹56.25 lakhs (Previous year: ₹21.47 lakhs)
  • Provision for Tax: ₹54.47 lakhs (Previous year: ₹2.03 lakhs)
  • Profit after Tax: ₹1.77 lakhs (Previous year: ₹19.44 lakhs)
  • Profit brought forward: ₹1070.23 lakhs
  • Profit available for appropriation: ₹1072.01 lakhs
  • Profit/Loss carried to Balance Sheet: ₹1072.01 lakhs

Operational Performance:

  • Revenue from Operations: ₹2845.95 lakhs (₹1840.48 lakhs in FY25)
  • Export Sales: ₹2676.78 lakhs
  • Local GST Sales: ₹3.10 lakhs
  • Interstate CST Sales: ₹27.26 lakhs
  • Other Operating Revenues (Duty Drawback, Import License): ₹138.80 lakhs
  • Other Income: ₹124.19 lakhs (includes export sample income, exchange difference, insurance claims)
  • Cost of Materials Consumed: ₹1236.87 lakhs
  • Employee Benefits Expense: ₹448.43 lakhs
  • Finance Costs: ₹138.27 lakhs
  • Earnings Per Share: Basic and Diluted EPS of ₹0.05 (Previous year: ₹0.50)

Balance Sheet Position (as at March 31, 2026)

Assets:

  • Non-Current Assets: ₹1603.92 lakhs
  • Property, Plant and Equipment: ₹1433.04 lakhs
  • Capital Work-in-Progress: ₹19.39 lakhs
  • Financial Assets: ₹0.09 lakhs (investments)
  • Other Financial Assets: ₹77.32 lakhs
  • Trade Receivables: ₹6.80 lakhs
  • Other Non-Current Assets: ₹67.28 lakhs
  • Current Assets: ₹2243.99 lakhs
  • Inventories: ₹1305.64 lakhs
  • Trade Receivables: ₹534.83 lakhs
  • Cash and Cash Equivalents: ₹0.05 lakhs
  • Bank Balances: ₹129.45 lakhs
  • Other Current Assets: ₹274.02 lakhs

Equity and Liabilities:

  • Equity Share Capital: ₹390.98 lakhs (44,73,600 equity shares of ₹10 each, less calls in arrears of ₹56.38 lakhs)
  • Other Equity: ₹1072.01 lakhs
  • Non-Current Liabilities: ₹175.74 lakhs
  • Deferred Tax Liabilities: ₹63.87 lakhs
  • Other Long Term Liabilities: ₹0.45 lakhs
  • Long Term Provisions: ₹111.43 lakhs
  • Current Liabilities: ₹2209.18 lakhs
  • Borrowings: ₹1177.31 lakhs
  • Trade Payables: ₹578.05 lakhs
  • Other Current Liabilities: ₹411.63 lakhs
  • Short-term Provisions: ₹42.18 lakhs

34th Annual General Meeting Details

Date and Time:

  • Date: Thursday, September 24, 2026
  • Time: 11:00 a.m. IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Deemed Venue: Registered Office at No.11, First Floor, K.M.Adam Street, Nagelkeni, Chrompet, Chennai - 600 044

Agenda Items:

Ordinary Business:

1. Adoption of audited Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Auditors

2. Appointment of Director in place of Mr. Kavinesan I.M (DIN: 10519751) who retires by rotation

Special Business:

3. Appointment of Mr. RM Lakshmanan (DIN: 00039603) as Managing Director for 5 years effective June 27, 2026 to June 26, 2031

  • Remuneration: Salary of ₹2,75,000 per month plus perquisites including housing, medical reimbursement, club fees, gratuity, etc.
  • In case of loss/inadequacy of profits, remuneration as per Schedule V limits

4. Re-appointment of Mr. Ravindran Varadarajan (DIN: 10378006) as Independent Non-executive Director for 5 years from November 10, 2026 to November 8, 2031

Board of Directors:

  • Mr. RM Lakshmanan - Managing Director (DIN: 00039603)
  • Mrs. P Shanmathy - Non-Executive, Independent Director
  • Mr. Ravindran Varadarajan - Non-Executive, Independent Director
  • Mr. Kavinesan I.M - Non-Executive Director
  • Mrs. Ashitha K - Non-Executive, Independent Director (appointed August 6, 2025)

Key Managerial Personnel:

  • Mr. M Nagendra - Chief Financial Officer
  • Mrs. Ritu Sharma - Company Secretary

Foreign Exchange Details

  • FOB Value of Exports: ₹2567.99 lakhs
  • Foreign Travel Expenses: ₹18.98 lakhs
  • Earnings in Foreign Currency: ₹2676.78 lakhs
  • Expenditure in Foreign Currency: ₹86.14 lakhs
  • Value of Imports (CIF basis): ₹178.70 lakhs

Dividend and Reserves

  • Dividend Declared: No dividend recommended for FY 2025-26
  • Transfer to Reserves: No amount transferred to reserves

Share Capital Information

  • Authorized Capital: ₹500.00 lakhs (50,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹390.98 lakhs (44,73,600 equity shares of ₹10 each, less calls in arrears of ₹56.38 lakhs)
  • Major Shareholders:
  • Mr. RM Lakshmanan: 12,75,729 shares (28.52%)
  • Mr. Arun Ramanathan: 1,36,400 shares (3.05%)
  • Mr. Ramanathan L: 1,65,811 shares (3.71%)

Auditor Appointments

  • Statutory Auditors: M/s. Darpan & Associates, Chartered Accountants (FRN: 016156S)
  • Appointed until conclusion of 36th AGM
  • Remuneration: ₹0.75 lakhs for audit, ₹0.25 lakhs for tax audit
  • Secretarial Auditor: Mr. S. Ganesan, Practicing Company Secretary
  • Appointed until conclusion of 38th AGM in 2030
  • Internal Auditor: Qualified Chartered Accountant appointed for FY 2025-26

Important Dates

  • Book Closure: September 18, 2026 to September 24, 2026 (both days inclusive)
  • E-Voting Period: September 21, 2026 (9:00 a.m.) to September 23, 2026 (5:00 p.m.)
  • Cut-off Date: September 17, 2026

Factory Locations

  • Factory 1: No.11, First Floor, K.M.Adam Street, Nagelkeni, Chrompet, Chennai - 600 044
  • Factory 2: R.N.Kandigai, Kancheepuram District - 603403

Bankers and Professional Advisors

  • Bankers: Canara Bank, Mid Corporate Branch, Chennai
  • Registrar and Share Transfer Agent: Cameo Corporate Services Limited, Chennai
  • Scrutinizer for E-Voting: Mr. S. Ganesan, Practicing Company Secretary

Additional Information

  • The company manufactures and exports genuine leather garments and leather goods
  • Shares listed on BSE Limited (Scrip Code: 526468, ISIN: INE940E01011)
  • No subsidiary, joint venture or associate companies
  • No deposits accepted during the year
  • No loans, guarantees or investments under Section 186 except ₹0.09 lakhs in quoted shares