Key Event Details

  • 37th Annual General Meeting to be held on Wednesday, 16th September 2026 at 12:00 Noon IST through Video Conferencing/Other Audio Visual Means
  • Record date for determining members entitled to vote: 9th September 2026
  • Remote e-voting period: 13th September 2026 (9:00 AM) to 15th September 2026 (5:00 PM)
  • Register of Members will remain closed from 10th September 2026 to 16th September 2026 (both days inclusive)

Financial Performance (FY 2025-26 vs FY 2024-25)

  • Revenue from Operations: ₹1,647.67 lakhs (Previous: ₹1,311.42 lakhs)
  • Other Income: ₹4.02 lakhs (Previous: ₹244.31 lakhs)
  • Total Income: ₹1,651.69 lakhs (Previous: ₹1,555.73 lakhs)
  • Loss before Tax: ₹(652.78) lakhs (Previous: Profit ₹418.86 lakhs)
  • Tax Expense: ₹12.67 lakhs (Previous: ₹300.90 lakhs)
  • Loss after Tax: ₹(665.67) lakhs (Previous: Profit ₹118.87 lakhs)
  • Other Comprehensive Loss: ₹(718.63) lakhs (Previous: Gain ₹1,060.84 lakhs)
  • Total Comprehensive Loss: ₹(1,384.29) lakhs (Previous: Gain ₹1,179.71 lakhs)
  • Basic & Diluted EPS: ₹(10.74) (Previous: ₹1.92)

Key Financial Position (as at 31st March 2026)

  • Share Capital: ₹620.00 lakhs (62,00,000 equity shares of ₹10 each)
  • Other Equity: ₹1,120.26 lakhs
  • Total Assets: ₹1,764.87 lakhs (Previous: ₹3,431.92 lakhs)
  • Investments (at FVTOCI): ₹636.16 lakhs (Previous: ₹1,478.41 lakhs)
  • Inventories (Stock in Trade): ₹1,054.29 lakhs (Previous: ₹1,893.20 lakhs)
  • Loans: ₹5.22 lakhs (Previous: ₹10.30 lakhs)

AGM Agenda Items

Ordinary Business

1. Adoption of Audited Financial Statements for FY ended 31st March 2026 with Directors' and Auditors' Reports

2. Re-appointment of Mrs. Varsha J. Vakharia (DIN: 00052361) as Director retiring by rotation

3. Appointment of M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W) as Statutory Auditors for first term of three years from conclusion of 37th AGM until conclusion of 40th AGM

Special Business

4. Appointment of Mr. Sanjay Rasiklal Dholakia (DIN: 11831235) as Independent Director for term of five years up to 27th July 2031

Board and Management Changes

  • Mr. Sanjay Rasiklal Dholakia appointed as Additional Independent Director effective 28th July 2026
  • M/s. B.L. Dasharda & Associates complete their tenure as Statutory Auditors at conclusion of 37th AGM
  • Board recommends appointment of M/s. Panchal S K & Associates as new Statutory Auditors

Business Operations Update

  • Company received Certificate of Registration as NBFC-ICC (Investment and Credit Company) from RBI on 19th December 2022
  • Commenced investment activities and funding of solar power plants
  • Company does not accept public deposits
  • No material changes or commitments affecting financial position between year-end and report date
  • No significant material orders passed by regulators/courts impacting going concern status

Corporate Governance

  • Board Composition: 6 Directors (including 3 Independent Directors)
  • Board Meetings held during FY: 5 meetings
  • Audit Committee Meetings: 4 meetings
  • Nomination and Remuneration Committee Meetings: 2 meetings
  • Stakeholder Relationship Committee Meetings: 4 meetings
  • Separate meeting of Independent Directors held on 10th February 2026

Dividend and Reserves

  • No dividend recommended for FY 2025-26
  • Transfer of ₹255.84 lakhs to Reserve Fund under Section 45-IC(1) of RBI Act, 1934
  • No amount transferred to general reserves

Related Party Transactions

  • Rent paid to Teekay International: ₹12.00 lakhs
  • Loans taken from Mr. Jitendra K. Vakharia: ₹42.34 lakhs (repaid same amount)
  • All transactions conducted at arm's length basis

Capital Structure

  • Authorized Share Capital: ₹25,00,00,000 (2,50,00,000 equity shares of ₹10 each)
  • Paid-up Share Capital: ₹6,20,00,000 (62,00,000 equity shares of ₹10 each)
  • No change in share capital during the year

Important Dates

  • AGM Date: 16th September 2026
  • Record Date: 9th September 2026
  • Book Closure: 10th September 2026 to 16th September 2026
  • E-voting Period: 13th September 2026 to 15th September 2026

Registrars and Share Transfer Agents

M/s. Purva Sharegistry (India) Pvt. Ltd., Mumbai

Bankers

HDFC Bank Ltd. and Indian Overseas Bank