Key Quantitative Figures

  • Net Loss for FY25-26: ₹25.76 lakhs (Previous year: ₹24.69 lakhs)
  • Paid-up Equity Capital: ₹801.94 lakhs (80,18,750 equity shares of ₹10 each)
  • Borrowings from Holding Company: ₹123.32 lakhs (interest-bearing)
  • Interest Payable to Holding Company: ₹35.45 lakhs
  • Cash and Cash Equivalents: ₹3.10 lakhs
  • Negative Net Worth: ₹150.03 lakhs
  • Employee Benefit Expenses: ₹1.17 lakhs
  • Finance Costs: ₹8.89 lakhs
  • Other Expenses: ₹15.70 lakhs
  • Statutory Audit Fees: ₹1.00 lakh

Dates of Significance

  • AGM Date: September 30, 2026 at 3:30 PM (through Video Conferencing)
  • Book Closure: September 24, 2026 to September 30, 2026
  • E-voting Period: September 27, 2026 (10:00 AM) to September 29, 2026 (5:00 PM)
  • Cut-off Date for Voting: September 23, 2026
  • Annual Report Dispatch Date: September 01, 2026
  • Board Meeting Dates: May 30, 2025; August 13, 2025; November 14, 2025; February 12, 2026

Parties Involved

  • Registrar & Transfer Agent: Niche Technologies Pvt. Ltd.
  • Statutory Auditors: M/s. Bohra & Co., Chartered Accountants
  • Secretarial Auditor: M/s. D. Raut & Associates
  • Scrutinizer for E-voting: Mr. Debendra Raut, Practising Company Secretary
  • Holding Company: Castron Mining Limited (holds 50.55% shares)
  • Bankers: State Bank of India

AGM Agenda Items

Ordinary Business:

1. Adoption of audited Financial Statements for FY25-26

2. Appointment of Mr. Pushkar Laxmichand Galav (DIN: 09600593) as Director retiring by rotation

Special Business:

3. Appointment of Mrs. Sneha Parth Sharma (DIN: 10680027) as Independent Director for 5 years from February 12, 2026 to February 11, 2031

Director Changes

  • Mrs. Sneha Parth Sharma appointed as Additional Director (Independent) effective February 12, 2026
  • Mrs. Sudha Ramesh (DIN: 02840031) resigned effective February 12, 2026

Operational Status

  • Operations shut down since 2010 due to working capital shortage
  • No business activities during FY25-26
  • Company evaluating options to sell/lease/transfer business assets
  • Promoters attempting to infuse funds for revival

Financial Performance

  • Continued losses: ₹25.76 lakhs (FY25-26) vs ₹24.69 lakhs (FY24-25)
  • Current liabilities exceed current assets
  • Negative net worth of ₹150.03 lakhs
  • No dividend recommended for FY25-26
  • Fully depreciated fixed assets with carrying value of ₹8.99 lakhs (freehold land)

Capital Structure Impact

  • No change in share capital during FY25-26
  • No equity shares issued with differential rights, sweat equity, ESOPs, or buybacks
  • 91% shares (73,19,677 shares) held in dematerialized form

Corporate Governance

  • Voluntary compliance with SEBI LODR corporate governance requirements
  • Board comprises 4 directors: 1 Executive, 1 Non-Executive, 2 Independent (including 1 woman director)
  • Key Managerial Personnel: Mr. Adarsh Agarwalla (Wholetime Director), Mr. Avinash Landge (CFO), Mr. Om Prakash Ojha (Company Secretary)
  • Board met 4 times during FY25-26

Auditor Reports

  • Statutory Auditors: Unmodified opinion with emphasis on material uncertainty related to going concern
  • Secretarial Auditor: Qualified opinion regarding pending delisting from Calcutta Stock Exchange
  • No fraud reported by auditors

Going Concern Assessment

Auditors highlighted material uncertainty regarding going concern due to:

  • Continuous losses since operations shutdown in 2010
  • Negative net worth
  • Current liabilities exceeding current assets
  • Dependence on holding company for financial support
  • Management believes accounts can be prepared on going concern basis based on holding company support

Other Material Information

  • No pending litigations impacting financial statements
  • No material related party transactions
  • No CSR activities undertaken (not mandated due to financial position)
  • No deposits accepted from public
  • No loans, guarantees, or investments covered under Section 186
  • Company listed on BSE (primary) and three regional exchanges (delisting applications pending)