Financial Performance Summary

FY 2025-26 Financial Results (in ₹ '00s):

  • Total Revenue: ₹15,500 (compared to ₹3,51,682 in FY25)
  • Total Expenditure: ₹19,941 (compared to ₹2,14,625 in FY25)
  • Profit Before Tax: Loss of ₹4,441 (compared to profit of ₹1,37,057 in FY25)
  • Tax Expenses:
  • Current Year Tax: ₹0
  • Previous Year Tax: Credit of ₹4,593
  • Deferred Tax: ₹175
  • Profit After Tax: Loss of ₹23 (₹2,300) compared to profit of ₹96,021 (₹96.02 lakh) in FY25

Key Financial Highlights:

  • Revenue declined significantly to ₹15.50 lakh from ₹351.68 lakh in previous year
  • Net loss of ₹2,300 compared to net profit of ₹96.02 lakh in FY25
  • Decline attributed to absence of significant buying and selling transactions in vacant land
  • Company engaged in single business segment of buying and selling vacant land
  • No change in nature of business during the year

Dividend and Reserves

  • No dividend recommended for FY26 due to loss incurred
  • No amount proposed to be transferred to General Reserves

Capital Structure

  • Authorized Share Capital: ₹5,00,00,000 (50,00,000 equity shares of ₹10 each) - unchanged
  • Paid-Up Share Capital: ₹3,00,00,000 (30,00,000 equity shares of ₹10 each) - unchanged
  • No issuance of shares, sweat equity, buyback, or other capital changes during the year

Board and Governance Matters

Board Composition:

  • Mr. T. Ashok Raj - Managing Director (DIN: 00575471)
  • Mrs. Sunita Mahendar Raj - Director & CFO (DIN: 01751554)
  • Mr. Nihal Chand - Director (NEID) (DIN: 08881090)
  • Mr. Dalel Singh Rathore - Additional Director (Independent) appointed w.e.f 31.03.2026 (DIN: 10766167)

Key Managerial Personnel:

  • Mr. T. Ashok Raj - Managing Director
  • Mrs. Sunita Mahendar Raj - Chief Financial Officer
  • Ms. Bela Parekh - Company Secretary

Board Meetings:

  • 5 meetings held during FY26 on: 28.05.2025, 11.08.2025, 13.11.2025, 13.02.2026, 31.03.2026
  • All directors attended all meetings except Mr. Rathore who was appointed on 31.03.2026

Committee Composition:

Audit Committee (reconstituted w.e.f 31.03.2026):

  • Mr. Nihal Chand (Chairman, NEID)
  • Ms. Sunita (Member, NED)
  • Mr. T. Ashok Raj (Member, ED) - ceased w.e.f 31.03.2026
  • Mr. Dalel Singh Rathore (Member, NED) - appointed w.e.f 31.03.2026

Nomination & Remuneration Committee (reconstituted w.e.f 31.03.2026):

  • Mr. Nihal Chand (Chairman, NEID)
  • Ms. Sunita (Member, NED)
  • Mr. T. Ashok Raj (Member, ED) - ceased w.e.f 31.03.2026
  • Mr. Dalel Singh Rathore (Member, NED) - appointed w.e.f 31.03.2026

Stakeholders Relationship Committee (reconstituted w.e.f 31.03.2026):

  • Ms. Sunita (Chairperson, NED)
  • Mr. Nihal Chand (Member, NEID)
  • Mr. T. Ashok Raj (Member, ED) - ceased w.e.f 31.03.2026
  • Mr. Dalel Singh Rathore (Member, NED) - appointed w.e.f 31.03.2026

AGM Details

  • 34th Annual General Meeting: September 11, 2026 at 12:30 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Cut-off date for voting: September 4, 2026
  • E-voting period: September 8, 2026 (9:00 AM) to September 10, 2026 (5:00 PM)

Agenda Items:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Ms. Sunita (DIN: 01751554) who retires by rotation

3. Appointment of Mr. Dalel Singh Rathore (DIN: 10766167) as Independent Director for 5 years w.e.f 31.03.2026

Regulatory and Compliance Matters

Statutory Auditors:

  • M/s. G C Daga & Co, Chartered Accountants (FRN: 000668S)
  • Appointed for 5 years in 31st AGM held on 23.12.2023
  • Auditors reported no qualifications, reservations, or adverse remarks
  • No frauds reported under Section 143(12) of Companies Act, 2013

Secretarial Audit:

  • Conducted by M/s. A.K. Jain & Associates, Company Secretaries
  • Key observations:

1. No functional website as required under Regulation 46 of SEBI LODR

2. Inadequate number of Independent Directors from 01.04.2025 to 30.03.2026

3. Inadequate composition of Audit Committee during same period

4. Inadequate composition of Nomination & Remuneration Committee during same period

5. No Internal Auditor appointed for FY 2025-26

6. Belated submission of shareholding pattern for quarter ended 31.12.2025 to BSE (penalty paid)

7. No Standard Operating Process for Structured Digital Database under SEBI PIT Regulations

Other Compliance Disclosures:

  • No deposits accepted under Companies Act, 2013
  • No subsidiaries, joint ventures, or associate companies
  • No material changes or commitments affecting financial position post year-end
  • No loans, guarantees, or investments under Section 186 of Companies Act
  • No significant regulatory orders impacting going concern status
  • No related party transactions under Section 188 of Companies Act
  • No CSR spending required (not applicable under Section 135)
  • No sexual harassment complaints during the year
  • Complied with Maternity Benefit Act, 1961

Financial Position as at 31.03.2026 (in ₹ '00s)

Assets:

  • Non-current assets: ₹86,814
  • Property, plant and equipment: ₹52,198
  • Other financial assets (security deposits): ₹33,330
  • Deferred tax asset: ₹1,286
  • Current assets: ₹3,90,553
  • Inventories: ₹1,53,881
  • Trade receivables: ₹321
  • Cash & cash equivalents: ₹15,237
  • Other current assets: ₹2,21,113

Liabilities:

  • Current liabilities: ₹1,191
  • Trade payables: ₹0
  • Other current liabilities: ₹1,191
  • Provisions: ₹0
  • Non-current liabilities: ₹0

Equity:

  • Equity share capital: ₹3,00,000
  • Other equity (retained earnings): ₹1,76,175

Key Ratios and Metrics

  • Current ratio: 328.05 (deteriorated from 10.75 in FY25)
  • Return on equity: Negative (from 22% in FY25)
  • Inventory turnover ratio: 0.07 (down from 1.91 in FY25)
  • Net profit ratio: Negative (from 27% in FY25)
  • Return on capital employed: Negative (from 32% in FY25)

Other Material Information

  • Company registered office: Gyan Kiran, Door No. 6, Hanumantha Rao Street, T. Nagar, Chennai - 600017
  • Share Transfer Agent: Integrated Registry Management Services Pvt. Ltd.
  • Banker: Tamil Nadu Mercantile Bank Ltd
  • Scrutinizer for e-voting: M/s. A K Jain & Associates