Financial Performance (Standalone)

Financial Year: April 1, 2025 to March 31, 2026

Revenue from Operations: ₹68.22 crore (FY25: ₹114.74 crore)

Profit Before Depreciation and Interest: ₹6.50 crore (FY25: ₹8.48 crore)

Interest Expense: ₹3.71 crore (FY25: ₹3.91 crore)

Depreciation: ₹38.21 lakh (FY25: ₹45.97 lakh)

Profit Before Tax: ₹2.41 crore (FY25: ₹4.12 crore)

Tax Expense: ₹81.24 lakh (Current Tax), ₹-4.37 lakh (Earlier Year Tax), ₹-10.26 lakh (Deferred Tax)

Profit After Tax: ₹1.74 crore (FY25: ₹3.18 crore)

Other Comprehensive Income: ₹18.66 lakh (FY25: ₹-5.22 lakh)

Total Comprehensive Income: ₹1.93 crore (FY25: ₹3.13 crore)

Profit Brought Forward: ₹10.87 crore

Balance Carried to Balance Sheet: ₹12.79 crore

Earnings Per Share (Basic & Diluted): ₹0.85 (FY25: ₹1.37)

Key Balance Sheet Figures (as of March 31, 2026):

Total Assets: ₹86.99 crore (FY25: ₹81.92 crore)

Equity Share Capital: ₹9.12 crore (22,796,400 equity shares of ₹4 each)

Warrant Application Money: ₹5.50 crore (from preferential issue)

Reserves & Surplus: ₹24.65 crore

Total Equity: ₹39.27 crore

Non-Current Liabilities: ₹3.91 crore

Current Liabilities: ₹43.80 crore

Inventories: ₹49.99 crore

Trade Receivables (Current): ₹13.69 crore

Trade Receivables (Non-Current): ₹6.81 crore

Cash & Cash Equivalents: ₹2.97 crore

Operational and Business Highlights

  • Name Change: Effective July 21, 2025, the company changed its name from Expo Gas Containers Limited to Expo Engineering and Projects Limited to reflect its evolution into a diversified engineering company.
  • Order Book: Closed the year with a healthy order book of ₹94 crore. Secured a major order worth ₹44 crore from ONGC during the year.
  • Business Segments: Operations span Process Plant Equipment Manufacturing, On-Site Engineering Projects, and Maintenance & Inspection Services.
  • Geographic Presence: Significant project execution across Gujarat, Maharashtra, Odisha, Assam, Rajasthan, and Ladakh.
  • Client Base: Includes Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL), Oil and Natural Gas Corporation (ONGC), Reliance Industries Ltd., and Larsen & Toubro (L&T).
  • Manufacturing Facility: State-of-the-art integrated manufacturing facility at Murbad, Thane.
  • Certifications: ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), ISO 45001:2018 (Occupational Health & Safety), ASME "U" Stamp, National Board "R" and "NB" Stamps.
  • Employee Strength: 43 employees (excluding Key Managerial Personnel) as of March 31, 2026.

Corporate Actions and Capital Structure

  • Preferential Allotment: Allotted 31,45,715 convertible warrants at ₹70 each (including a premium of ₹66) aggregating to ₹22.02 crore to promoters and non-promoters on September 26, 2025. 25% of the consideration (₹5.50 crore) was received during FY26. The warrants are convertible into equity shares within 18 months from the date of allotment.
  • Dividend: No dividend declared for FY26 to conserve resources.
  • Reserves: No amount transferred to reserves during the year.

Board and Governance

  • Board of Directors: Comprises Mr. Murtuza S. Mewawala (Chairman & CFO), Mr. Hasanain S. Mewawala (Managing Director), Mr. Sajjadhussein Mohammedhussein Nathani (Executive Director), Mr. Venkateswaran Manickam Chittoor, Mrs. Sayada Mukadam, and Mrs. Fatema Soyel Nayani (Non-Executive Independent Directors).
  • Board Meetings: 7 meetings held during the year.
  • Key Managerial Personnel: Mrs. Preeti Sharma (Company Secretary & Compliance Officer).
  • Committee Meetings: Audit Committee (4), Nomination and Remuneration Committee (2), Stakeholders Relationship Committee (4).
  • Director Re-appointment: Mr. Murtuza S. Mewawala retires by rotation and seeks re-appointment. Mr. Venkateswaran Manickam Chittoor seeks re-appointment as an Independent Director for a second term of five years.
  • Managerial Remuneration: Mr. Hasanain S. Mewawala (MD) received remuneration of ₹27.60 lakh (FY25: ₹12.00 lakh).

Statutory Appointments and Auditors

  • Statutory Auditors: M/s. K.S. Shah & Co., Chartered Accountants, proposed for ratification until the conclusion of the 44th AGM.
  • Internal Auditor: Mr. Sunil Sawant reappointed for FY 2026-27.
  • Secretarial Auditor: M/s. ND & Associates, Practising Company Secretaries, appointed for a five-year term from the conclusion of the 42nd AGM.
  • Auditors' Report: The audit report does not contain any qualifications, reservations, or adverse remarks.

Annual General Meeting (AGM)

  • 43rd AGM Date: September 10, 2026, at 11:30 AM.
  • Mode: Video Conferencing/Other Audio-Visual Means (VC/OAVM). The registered office is deemed the venue.
  • Business:
  • Ordinary Business: Adoption of audited financial statements, re-appointment of Mr. Murtuza S. Mewawala, ratification of statutory auditors.
  • Special Business: Re-appointment of Mr. Venkateswaran Manickam Chittoor as an Independent Director.
  • E-voting: Remote e-voting period from September 7, 2026 (9:00 AM) to September 9, 2026 (5:00 PM) through CDSL.
  • Record Date: September 3, 2026.

Other Material Developments

  • Merger Proposal: The Board approved a proposal to merge Expo Projects Engineering Services Pvt. Ltd. with the company on June 30, 2026. The process is ongoing.
  • Related Party Transactions: All transactions were on an arm's length basis and in the ordinary course of business. No materially significant transactions were reported.
  • Corporate Social Responsibility (CSR): Not applicable to the company.
  • Vigil Mechanism/Whistle Blower Policy: In place and operational. No complaints were received during the year.
  • Sexual Harassment Committee: Constituted. No complaints were received during the year.
  • Insolvency Proceedings: No applications made or proceedings pending under the Insolvency and Bankruptcy Code, 2016.

Forward-Looking Statements

Management outlook indicates a robust supercycle for the process plant industry in India, projected to reach $183.85 billion in 2026. The company is actively pursuing opportunities in refinery expansions, petrochemicals, green hydrogen, and renewable energy sectors. The order pipeline includes projects with Chambal Fertilisers, BPCL, HPCL, ACME Clean Energy, L&T, Petronet LNG, and others.