AGM Details
- Date: Wednesday, 30th September 2026
- Time: 11:00 A.M.
- Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
- Venue: Registered Office at Flat No. 01, Sukhsneh Apartment, 168-M Khatiwala Tank, Indore, Madhya Pradesh, India, 452014
Agenda Items
Ordinary Business
1. Adoption of Financial Statements: To receive, consider and adopt Audited Standalone and Consolidated Financial Statements for FY ended 31st March 2026, including Balance Sheet, Statement of Profit & Loss, Cash Flow and reports of Board of Directors and Auditors.
2. Reappointment of Director: Appointment of Shri Hakimuddin Ghantawala (DIN: 07695718) who retires by rotation under Section 152(6) of Companies Act, 2013.
3. Appointment of Statutory Auditors: Appointment of M/s Anil Kamal Garg & Co., Chartered Accountants (FRN: 004186C) to fill casual vacancy caused by resignation of M/s S.N. Gadiya & Co., Chartered Accountants (FRN: 002052C) due to "inability to arrive at mutually acceptable terms relating to professional fee and scope of services." Proposed term: 5 years from conclusion of 11th AGM till conclusion of 16th AGM in 2031.
Special Business
4. Confirmation of Independent Director: Approval for confirmation of Shri Praveen Sinha (DIN: 11092375) as Non-Executive Independent Director for 5 years from 8th September 2026 to 7th September 2031.
5. Confirmation of Independent Director: Approval for confirmation of Shri Habib Khandwala (DIN: 11697079) as Non-Executive Independent Director for 5 years from 8th September 2026 to 7th September 2031.
6. Revision in Remuneration: Approval for increase in remuneration of Shri Kaid Johar Kalabhai, Chief Operating Officer (who is also promoter and relative of director Smt. Zahabiya Kalabhai) from ₹2,00,000/- p.m. to up to ₹5,00,000/- p.m. effective 1st October 2026.
Financial Performance (FY 2025-26)
Standalone Financials (₹ in Lakhs)
- Revenue from Operations: ₹5,747.22 (Previous Year: ₹4,260.71)
- Other Income: ₹75.23 (Previous Year: ₹12.58)
- Total Income: ₹5,822.45 (Previous Year: ₹4,273.29)
- Profit before Tax: ₹886.52 (Previous Year: ₹656.51)
- Profit after Tax: ₹673.99 (Previous Year: ₹472.53)
- EPS (Basic & Diluted): ₹8.58 (Previous Year: ₹6.75)
Consolidated Financials (₹ in Lakhs)
- Revenue from Operations: ₹6,804.49 (Previous Year: ₹5,331.80)
- Other Income: ₹175.43 (Previous Year: ₹18.74)
- Total Income: ₹6,979.92 (Previous Year: ₹5,350.54)
- Profit before Tax: ₹1,219.09 (Previous Year: ₹842.10)
- Profit after Tax: ₹910.48 (Previous Year: ₹606.67)
- EPS (Basic & Diluted): ₹11.59 (Previous Year: ₹8.67)
Capital Structure
- Paid-up Equity Share Capital: ₹950.00 Lakhs divided into 95.00 Lakhs equity shares of ₹10/- each
- IPO Details: Company completed Initial Public Offer issuing 25,00,000 Equity Shares of face value ₹10/- each at issue price of ₹150/- per share (₹10 face value + ₹140 premium)
- Total Issue Size: ₹3,750.00 Lakhs (₹250.00 Lakhs equity share capital + ₹3,500.00 Lakhs securities premium)
- Listing Date: 26th November 2025 on BSE SME Platform
IPO Proceeds Utilization
As of 31st March 2026:
- Capital Expenditure for Expansion: ₹450.75 Lakhs utilized (₹1,622.26 Lakhs unutilized)
- Repayment of Debt: No utilization (₹720.00 Lakhs unutilized)
- General Corporate Purposes: ₹206.87 Lakhs utilized (₹259.24 Lakhs unutilized)
- Issue Expenses: ₹490.88 Lakhs utilized
- Total Unutilized Amount: ₹2,601.50 Lakhs invested in fixed deposits with Yes Bank Limited
Operational Highlights
- Company manufactures engineering castings, machined components and assemblies with focus on railway traction, rolling stock, defence and industrial applications
- Obtained Letter of Intent from M.P. Industrial Development Corporation for approximately 3.07 hectares of greenfield industrial land at Sector 7, Pithampur for capacity expansion
- No dividend recommended for FY 2025-26 due to expansion requirements
Corporate Governance
Board of Directors
- Shri Zakiuddin Sujauddin (Managing Director)
- Shri Hakimuddin Ghantawala (Whole Time Director & CFO)
- Smt. Zahabiya Kalabhai (Non-Executive Women Director)
- Shri Ashish Sanjay Agarwal (Independent Director)
- Shri Bhavesh Kishore Waghani (Independent Director)
- Shri Praveen Sinha (Additional Independent Director - appointed 8th September 2026)
- Shri Habib Khandwala (Additional Independent Director - appointed 8th September 2026)
Key Managerial Personnel
- CS Pallavi Parihar (Company Secretary & Compliance Officer until 30.06.2026)
- CS Trapti Jain (Company Secretary & Compliance Officer from 01.07.2026)
Committees
- Audit Committee: Shri Ashish Sanjay Agarwal (Chairman), Shri Bhavesh Kishore Waghani, Smt. Zahabiya Kalabhai
- Stakeholders' Relationship Committee: Shri Bhavesh Kishore Waghani (Chairman), Shri Ashish Sanjay Agarwal, Shri Zakiuddin Sujauddin
- Nomination & Remuneration Committee: Shri Ashish Sanjay Agarwal (Chairman), Shri Bhavesh Kishore Waghani, Smt. Zahabiya Kalabhai
Auditor Information
- Resigning Auditor: M/s S.N. Gadiya & Co., Chartered Accountants (FRN: 002052C) - resigned 8th September 2026
- Proposed Auditor: M/s Anil Kamal Garg & Co., Chartered Accountants (FRN: 004186C)
- Secretarial Auditor: M/s Ishan Jain & Co., Company Secretaries
Shareholding Pattern
Promoter Holding (as of 31st March 2026)
- Kaid Johar Kalabhai: 21,38,250 shares (22.51%)
- Mariya Zakiuddin Sujauddin: 21,19,688 shares (22.31%)
- Hakimuddin Ghantawala: 14,00,000 shares (14.74%)
- Zakiuddin Sujauddin: 7,20,312 shares (7.58%)
- Zahabiya Kalabhai: 1,750 shares (0.02%)
- Total Promoter Holding: 67.16% (reduced from 95.14% in previous year due to IPO dilution)
Related Party Transactions
- Transactions with wholly-owned subsidiary Sleeploop India Private Limited:
- Purchases: ₹743.13 Lakhs
- Sales: ₹41.32 Lakhs
- Payments: ₹1,029.67 Lakhs
- Remuneration to directors and relatives:
- Directors' Remuneration: ₹42.00 Lakhs
- Salary to relatives: ₹25.95 Lakhs
Voting Arrangements
- Cut-off Date: 23rd September 2026
- Remote e-voting Period: 27th September 2026 (9:00 AM) to 29th September 2026 (5:00 PM)
- E-voting Service Provider: Central Depository Services (India) Limited (CDSL)
- Scrutinizer: CS Ishan Jain of M/s Ishan Jain & Co.
Important Dates
- AGM Date: 30th September 2026
- Remote e-voting: 27th to 29th September 2026
- Cut-off date for voting: 23rd September 2026
- Financial Year Ended: 31st March 2026
- Board Meeting Dates: 14 meetings held during FY 2025-26