Board Meeting Details
The meeting commenced at 12:00 noon and concluded at 02:10 pm on August 12, 2026.
Key Decisions and Approvals
1. Financial Results Approval: The Board approved the unaudited financial statements for the quarter ended June 30, 2026, which include a Statutory Auditors' Limited Review Report (Annexure-1).
2. Secretarial Audit Report: Taken on record the Secretarial Audit Report for FY 2025-26 (ended March 31, 2026) from Mr. Rajkumar R. Tiwari, Practicing Company Secretary.
3. Directors Report: Approved the draft Directors Report as of March 31, 2026 for FY 2025-26, including Corporate Governance Report and Management Discussion and Analysis Report.
4. Director Appointment: Based on recommendations of the Nomination and Remuneration Committee, the Board appointed Mr. Hasan A. Bhinderwala (DIN: 06751723) as Additional Director (Non-Executive, Independent) for an initial term of five years from August 12, 2026 to August 11, 2031, subject to shareholder approval via special resolution at the ensuing 48th Annual General Meeting. The company confirmed that Mr. Bhinderwala satisfies independence criteria under Companies Act, 2013 and SEBI Listing Regulations and is not debarred from holding directorship. Required details are in Annexure-II.
5. Scrutinizer Appointment: Approved appointment of Mr. Taher Sapatwala (Membership No. ACS 8029 & C.P NO.16149), Practicing Company Secretary, as Scrutinizer for conducting e-Voting process for the AGM.
6. AGM Notice: Approved draft Notice convening the 48th Annual General Meeting on Wednesday, September 23, 2026 at 11:30 am via video conferencing.
Financial Results for Quarter Ended June 30, 2026 (Unaudited)
- Revenue from operations: ₹31.34 crore (Q1 FY2026: ₹26.00 crore; Q4 FY2026: ₹26.11 crore; FY2026: ₹108.36 crore)
- Other Income: ₹1.25 crore (Q1 FY2026: ₹0.43 crore; Q4 FY2026: ₹1.22 crore; FY2026: ₹4.19 crore)
- Total Income: ₹32.59 crore (Q1 FY2026: ₹26.43 crore; Q4 FY2026: ₹27.33 crore; FY2026: ₹112.55 crore)
- Total expenses: ₹23.96 crore, consisting of:
- Employee benefit expense: ₹9.18 crore
- Finance costs: ₹0.01 crore
- Depreciation and amortization expense: ₹0.06 crore
- Other Expenses: ₹14.71 crore
- Profit before tax: ₹8.63 crore (Q1 FY2026: ₹5.82 crore; Q4 FY2026: ₹(4.58) crore loss; FY2026: ₹15.75 crore)
- Tax expense: ₹1.26 crore (Current Tax/MAT Credit Entitlement)
- Net profit for the period: ₹7.37 crore (Q1 FY2026: ₹5.69 crore; Q4 FY2026: ₹(4.84) crore loss; FY2026: ₹14.72 crore)
- Other Comprehensive Income: ₹252.91 crore (Items that will not be reclassified to profit and loss)
- Total comprehensive income: ₹260.28 crore
- Paid-up equity share capital: ₹576.62 crore (Face value: ₹10 per share)
- Earnings per share (Basic and Diluted): ₹0.13 (Q1 FY2026: ₹0.10; Q4 FY2026: ₹(0.08); FY2026: ₹0.26)
Additional Information
- The financial results were reviewed by the Audit Committee and approved by the Board on August 12, 2026
- Prepared in accordance with Indian Accounting Standards (Ind AS), Companies Act 2013, and SEBI Listing Regulations
- Statutory Auditors (D. Kothary & Co.) conducted a limited review of the financial results
- Impact of new Labour Codes effective November 21, 2025, with Central Rules notified on May 8, 2026, has been assessed and given effect to in these financial results
- Previous quarter/year figures have been restated, regrouped and reclassified where necessary for comparability
Director Profile (Mr. Hasan A. Bhinderwala)
- Accomplished businessman with over 22 years of leadership experience
- Expertise in manufacturing, distribution, strategic expansion, and marketing of industrial, safety, and sports netting solutions
- Not related to any existing Directors or KMPs of the company
- Holds directorship in R Nets N Knots LLP (LLPIN: AAD-6605)
- No other directorships in listed entities