Financial Performance Highlights

  • Total Income: ₹293.92 lakhs (FY25: ₹71.83 lakhs)
  • Revenue from Operations: ₹293.70 lakhs (FY25: ₹49.92 lakhs) - 488% increase
  • Other Income: ₹0.22 lakhs (FY25: ₹21.90 lakhs)
  • Profit Before Tax: ₹2.01 lakhs (FY25: ₹4.35 lakhs) - 54% decrease
  • Profit After Tax: ₹0.77 lakhs (FY25: ₹4.35 lakhs) - 82% decrease
  • Transfer to Reserves: ₹77,365 transferred to general reserves

Capital Structure

  • Authorized Share Capital: ₹6.50 crores (65,00,000 equity shares of ₹10 each)
  • Paid-up Equity Share Capital: ₹5.90 crores (59,01,100 equity shares of ₹10 each)
  • No change in share capital during the year

Dividend Declaration

No dividend recommended for FY25-26 with a view to conserving resources.

Annual General Meeting Details

  • Date: Wednesday, September 30, 2026
  • Time: 03:00 P.M.
  • Venue: Registered Office at Office No. 803, Eighth Floor Wallstreet II, Ellisbridge, Ahmedabad - 380006

AGM Agenda Items

Ordinary Business

1. Adoption of Audited Financial Statements for FY ended March 31, 2026

2. Re-appointment of Mr. Pradeep Babulal Shah (DIN: 05349427) as director liable to retire by rotation

Special Business

3. Appointment of Ms. Manali Davda, Proprietor of M/s. Manali D & Co., as Secretarial Auditor for five years from conclusion of AGM till conclusion of AGM in 2030-31

4. Re-classification of Mr. Tushar Shashikant Shah from 'Promoter/Promoter Group' to 'Public' category for his holding of 1,07,400 equity shares (1.82% of paid-up equity share capital)

Board and Management Changes

  • Ms. Sejal Shah (DIN: 07489588) resigned as Independent Director effective 27/08/2026
  • Company Secretary Changes:
  • Ms. Isha Badruka resigned effective 31 July 2025
  • Ms. Anjali Abhay Asknani appointed 10 October 2025, resigned 10 February 2026
  • Ms. Nisreen Kamari (M. No.: A80904) appointed as Company Secretary & Compliance Officer effective 1 August 2026

Auditor Reports

Statutory Auditors (M/s. J.S Shah and Co.)

Disclaimer of Opinion issued due to:

  • Inability to verify balances of Sundry Creditors, Debtors, Loans and Advances, Deposits, Current Liabilities, and Unsecured Loans (not confirmed by parties)
  • No documentation available for Investment in Plot and Premises at Sanand (₹1,00,00,000)
  • No documentation for inventory valuation/quantity (₹2,15,00,480)
  • Unable to verify bank balance with Tamilnad Mercantile Bank Ltd (A/c: 113150310875469)
  • No proper records maintained for Property, Plant and Equipment
Secretarial Auditors (M/s. Khushbu Trivedi & Associates)

Qualified Report with observations:

  • Company required to appoint Internal Auditor during the year
  • Non-compliance with SEBI LODR Regulations within prescribed timelines
  • E-Voting facilities not provided to members
  • CFO not appointed as per Companies Act, 2013
  • Certain statutory forms/returns not filed with ROC within prescribed time limits

Key Financial Positions (as at 31st March, 2026)

  • Non-Current Investments: ₹1,00,00,000 (Plot at Sanand ₹52,20,000; Premises ₹47,80,000)
  • Long Term Loans and Advances: ₹5,33,08,204
  • Inventories: ₹2,15,00,480 (valued at cost)
  • Trade Receivables: ₹1,57,19,902
  • Cash and Cash Equivalents: ₹35,78,157
  • Trade Payables: ₹3,73,83,135 (₹25,23,0620 more than one year; ₹12,15,2515 less than one year)

Legal and Regulatory Matters

  • Income Tax Disputes:
  • ₹87,14,360 for AY 2009-20 (u/s 147)
  • ₹10,54,530 for AY 2010-11 (u/s 154)
  • ₹5,87,100 for AY 2010-11 (u/s 271(1)(C))
  • ₹27,19,200 for AY 2009-10 (u/s 271(1)(C))
  • Professional Tax Dispute: ₹19,000 for 2020-21

Internal Financial Controls

Auditors reported material weakness in internal financial controls over financial reporting as the company does not have appropriate controls to make management assertions with respect to the "existence" of balances of assets and liabilities.

Business Operations

The company continued its business activities in trading, including Ready Mix Concrete (RMC) and construction materials, together with its financial and management consultancy activities.

Corporate Governance

  • Board met 5 times during the year
  • Separate meeting of Independent Directors held on 21st October, 2025
  • Company has Vigil Mechanism Policy/Whistle Blower Policy in place
  • No complaints received under Sexual Harassment of Women at Workplace Act, 2013

E-Voting Instructions

Remote e-voting period commences on Saturday, 26th September 2026 at 9:00 A.M. and ends on 29th September, 2026 at 5:00 P.M. Cut-off date is 23rd September, 2026.