AGM Details

The 13th Annual General Meeting is scheduled for Monday, September 28, 2026 at 03:30 PM IST through Video Conferencing/Other Audio Visual Means. The record date for determining members eligible to vote is September 21, 2026. Remote e-voting will be available from September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM) through CDSL.

Financial Performance Summary (Standalone)

FY 2025-26 vs FY 2024-25 (₹ in lakhs):

  • Revenue from Operations: ₹6,424.27 (prev. ₹5,806.39)
  • Other Income: ₹23.85 (prev. ₹0.16)
  • Total Revenue: ₹6,448.12 (prev. ₹5,806.55)
  • Total Expenses: ₹5,852.33 (prev. ₹5,203.87)
  • Profit Before Tax: ₹595.79 (prev. ₹602.68)
  • Tax Expense: ₹153.63 (prev. ₹155.64)
  • Profit After Tax: ₹435.38 (prev. ₹447.04)
  • Paid-up Equity Share Capital: ₹785.96 (prev. ₹575.96)
  • Reserves and Surplus: ₹2,795.95 (prev. ₹770.58)
  • EPS (Basic & Diluted): ₹5.93 (prev. ₹172.10; ₹7.91 after bonus effect adjustment)

The company remains debt-free with current ratio of 5.72 and debt-equity ratio of 0.02.

IPO Utilization

The company successfully completed its BSE SME IPO in June 2025, raising ₹19.11 crore through fresh issue of 21,00,000 equity shares at ₹91 per share. Utilization as of March 31, 2026:

  • Working Capital Requirement: ₹1,374.44 lakhs utilized out of ₹1,600.00 lakhs allocated
  • General Corporate Purposes: ₹0 utilized out of ₹200.00 lakhs allocated
  • Unutilized amount of ₹425.56 lakhs temporarily deployed in fixed deposits

Share Capital Changes

Paid-up share capital increased from ₹575.96 lakhs to ₹785.96 lakhs due to IPO issuance of 21,00,000 equity shares. The company successfully dematerialized 100% of its shares with ISIN INE0Y0E01012.

Key Management Changes

  • Ms. Mamzuza Malia resigned as Company Secretary effective August 20, 2025
  • Ms. Pooja appointed as Company Secretary effective September 01, 2025
  • Mr. Tarun Sharma resigned as CFO effective December 15, 2025
  • Mrs. Garima Moorjani appointed as CFO effective December 29, 2025

Director Reappointment

Mr. Dinesh Makhija (DIN: 06629656), Managing Director, retires by rotation and seeks reappointment. His remuneration for FY26 was ₹51.54 lakhs.

CSR Compliance

First year of CSR applicability with obligation of ₹6.63 lakhs (2% of average net profit). No projects identified during the year. Unspent amount of ₹6.63 lakhs transferred to Clean Ganga Fund on August 21, 2026.

Related Party Transactions

Key transactions with related parties:

  • Property purchase from Pooja Makhija (Director): ₹295.00 lakhs
  • Remuneration to directors: ₹107.27 lakhs
  • Loan repayment to Pooja Makhija: ₹17.03 lakhs

Statutory Auditors

Singhal Gupta & Co. LLP, Chartered Accountants (Firm Regn. No. 004933C) continue as statutory auditors. Their audit report contains no qualifications.

Contingent Liabilities

Pending disputes:

  • Income Tax Demand (FY 2023-24): ₹50.25 lakhs
  • Income Tax Demand (FY 2022-23): ₹31.76 lakhs
  • Income Tax Demand (FY 2020-21): ₹91.64 lakhs
  • GST Demand (FY 2020-21): ₹356.54 lakhs

Property Matter Disclosure

The company capitalized property purchase from promoter Pooja Makhija for ₹295 lakhs in FY26 despite registration completed in April 2026 due to technical issues at registration authority. Auditors confirmed appropriate treatment based on transfer of risks and rewards.

Employee Strength

Total employees: 2,439 as of March 31, 2026. Median employee remuneration: ₹9.32 lakhs per annum.