Key Financial Figures (Standalone, FY 2025-26)

  • Total Income: ₹116.65 crore (₹114.77 crore in FY25)
  • Revenue from Operations: ₹116.36 crore (₹114.32 crore in FY25)
  • Profit Before Tax: ₹14.12 crore (₹10.78 crore in FY25)
  • Net Profit After Tax: ₹11.12 crore (₹7.75 crore in FY25)
  • EPS: ₹11.13 (₹8.54 in FY25)
  • Equity Share Capital: ₹9.99 crore (950 lakh shares of ₹10 each)
  • Other Equity: ₹48.09 crore
  • EBITDA Margin: 13.98% (11.66% in FY25)
  • Current Ratio: 2.05 (1.49 in FY25)
  • ROCE: 21.59%

Fire Incident and Insurance Claim

  • Major fire occurred on February 4, 2026, affecting Gear Grinding Division
  • No loss of life reported
  • Significant damage to infrastructure and production assets
  • Interim insurance claim of ₹8.00 crore received during the year
  • Balance claim under assessment with insurer
  • Carrying value of affected assets written off in financial statements
  • Company initiated capacity restoration program with machinery replacement

Capital Structure Changes

  • Allotment of 4,90,000 equity shares on April 3, 2025, to promoter Bela Gajra
  • Shares issued at ₹60 per share (₹10 face value + ₹50 premium)
  • Total amount received: ₹2.20 crore
  • Shares issued upon conversion of convertible warrants originally allotted on November 1, 2023

Annual General Meeting Details

  • 52nd AGM Date: September 11, 2026
  • Time: 11:00 AM IST
  • Mode: Video Conferencing/Other Audio-Visual Means
  • Business:
  • Adoption of audited financial statements for FY 2025-26
  • Re-appointment of Mr. Pravin Kumar Shishodiya (DIN: 03011429) as Non-Executive Director retiring by rotation

Board and Committee Composition

  • Managing Director & CEO: Kennedy Ram Gajra (DIN: 02092206)
  • Whole-Time Director: Anmol Gajra (DIN: 07835836)
  • Non-Executive Director: Pravin Kumar Shishodiya (DIN: 03011429)
  • Independent Directors: Kamlesh Joshi, Divyanshi Joshi, Shriram Mishra (appointed August 22, 2025)
  • Resignation: Ruchi Sogani resigned as Non-Executive Director effective August 22, 2025
  • Board Meetings: 7 meetings held during FY 2025-26

Regulatory Compliance Issues

  • BSE imposed penalty of ₹3,06,800 for non-compliance with Regulation 17(1) of SEBI LODR Regulations
  • Penalty related to board composition requirements
  • Company filed appeal with Securities Appellate Tribunal on May 23, 2026
  • Matter pending adjudication as of report date

Dividend and Reserves

  • No dividend recommended for FY 2025-26
  • Entire profit of ₹11.12 crore retained in statement of profit and loss
  • Transfer to reserves: ₹11.12 crore to retained earnings

Shareholding Pattern

  • Promoter holding: 36.49% as of March 31, 2026
  • Public holding: 63.51%
  • 95.92% shares in dematerialized form
  • 4.08% shares in physical form
  • Top shareholders:
  • Kennedy Ram Gajra: 19.79%
  • Bela Gajra: 15.69%
  • ELEN7 Investment Pvt Ltd: 7.15%

Key Financial Ratios

  • Debtors Turnover Ratio: 2.84 (3.61 in FY25)
  • Inventory Turnover Ratio: 1.71 (2.86 in FY25)
  • Interest Coverage Ratio: 7.55 (5.13 in FY25)
  • Debt Equity Ratio: 0.50 (0.53 in FY25)
  • Operating Profit Margin: 13.98% (11.66% in FY25)
  • Net Profit Margin: 10% (7% in FY25)
  • Return on Net Worth: 19.14% (16.50% in FY25)

Auditor Reports

  • Statutory Auditor: M/s. S. N. Gadiya & Co., Chartered Accountants
  • Secretarial Auditor: M/s. HSPN & Associates LLP, Company Secretaries
  • Internal Auditor: M/s. Tanishq Tharani & Co., Chartered Accountants
  • No qualifications or adverse remarks in auditor reports
  • Secretarial auditor noted 2.38% promoter shares yet to be dematerialized

Credit Rating

  • CRISIL rating reaffirmed at 'CRISIL BBB-/Stable/CRISIL A3'
  • Rating reflects established market position in locomotive gear business
  • Strengths: Experienced management, improving business performance, moderate financial risk profile
  • Challenges: Susceptibility to raw material price volatility, tender-based business risks, working capital intensity

Corporate Governance

  • Compliance certificate from practicing company secretary provided
  • Vigil mechanism and whistle-blower policy in place
  • Code of conduct affirmed by directors and senior management
  • No complaints received under POSH Act during the year

Forward-Looking Statements

  • Focus on restoration and ramp-up of manufacturing capacities post-fire
  • Continued emphasis on railway sector and diversification into industrial applications
  • Development of export markets and global OEM relationships
  • Investment in technology and manufacturing excellence

Other Disclosures

  • Registrar & Share Transfer Agent: Purva Sharegistry (India) Private Limited
  • Listing: BSE Limited, listing fees paid for FY 2026-27
  • Employee Strength: 303 permanent employees as of March 31, 2026
  • Corporate Identity Number: L29130MP1974PLC035049