Key Quantitative Figures

Financial Performance (FY 2025-26 vs FY 2024-25):

  • Revenue from Operations: ₹0 lakh (vs ₹198.51 lakh previous year)
  • Total Expenses: ₹292.97 lakh (vs ₹204.68 lakh previous year)
  • Net Loss: ₹292.97 lakh (vs ₹6.17 lakh previous year)
  • Basic EPS: (₹0.84) (vs (₹0.02) previous year)
  • Diluted EPS: (₹0.84) (vs (₹0.04) previous year)

Capital Structure:

  • Authorized Share Capital: Increased from ₹35 crore to ₹61 crore
  • Issued & Subscribed Capital: ₹34.72 crore (3,47,20,000 equity shares of ₹10 each)
  • Shares in Demat Form: 3,47,19,505 shares (99.99% of paid-up capital)

Key Balance Sheet Items (as at 31st March 2026):

  • Investments: ₹752.73 lakh (including ₹752.73 lakh in other investments)
  • Loans and Advances: ₹958.57 lakh
  • Other Current Assets: ₹429.02 lakh
  • Trade Payables: ₹0 lakh (vs ₹174.52 lakh previous year)
  • Other Financial Liabilities: ₹0 lakh (vs ₹1,001.15 lakh previous year)

Dates of Action

  • AGM Date: 22nd September, 2026 at 3:00 PM through VC/OAVM
  • Book Closure: 16th September, 2026 to 22nd September, 2026 (both days inclusive)
  • E-voting Period: 19th September, 2026 (9:00 AM) to 21st September, 2026 (5:00 PM)
  • Cut-off Date for Voting Rights: 15th September, 2026
  • Financial Year Ended: 31st March, 2026

Parties Involved

Board of Directors & KMP:

  • Ziauddin Mohammed: Managing Director (DIN: 07523934, appointed 21.02.2025)
  • Ms. Supriya Dilip Gaikwad: Executive Director & CFO (DIN: 09837251, appointed 16.04.2024)
  • Ms. Hemlata: Resigned as Independent Director (w.e.f. 25.08.2026)
  • Omprakash Pyarelal Sonar: Independent Director
  • Mukesh Jiut Yadav: Appointed Independent Director (w.e.f. 25.08.2026, DIN: 10778075)
  • Hiren Kishor Patel: Appointed Independent Director (w.e.f. 25.08.2026, DIN: 10753864)
  • Manoj Kumar Jhawar: Additional Director (DIN: 09278578, appointed 20.09.2025)

Auditors:

  • Statutory Auditors: M/S. Sarang Shivajirao Chavan & Associates, Chartered Accountants (FRN: 159649W)
  • Secretarial Auditor: CS Ramesh Chandra Bagdi, Practicing Company Secretary

Other Entities:

  • Share Transfer Agent: Satellite Corporate Services Private Limited
  • Banker: Oriental Bank of Commerce, Fort Branch, Mumbai
  • Depository: Central Depository Services (India) Limited (CDSL)

Business Items for AGM Approval

Ordinary Business:

1. Adoption of audited financial statements for FY ended 31st March 2026

2. Re-appointment of Mr. Ziauddin Mohammed as director retiring by rotation

Special Business:

3. Re-appointment of Mukesh Jiut Yadav as Non-Executive Independent Director

4. Re-appointment of Hiren Kishor Patel as Non-Executive Independent Director

5. Regularization of Manoj Kumar Jhawar as Director

6. Appointment of M/s Sarang Shivajirao Chavan & Associates as Statutory Auditors for 5 years

Financial and Operational Impact

The company reported no business activities during the year, resulting in zero revenue. The management stated: "The absence of operating revenue during the year reflects the Company's business position and the level of business activities undertaken during the financial year."

Auditor Qualifications

The statutory auditors issued a disclaimer opinion citing:

  • Insufficient evidence for advances to suppliers of ₹21.85 crore
  • Lack of documentation for investment in CNX Corporation Limited shares
  • Missing supporting documentation for statutory compliances (GST, TDS, etc.)
  • Significant doubt about going concern due to continuous losses
  • Non-availability of external confirmations for loans and advances

Capital Structure Impact

No change in issued capital during the year. The authorized share capital was increased from ₹35 crore to ₹61 crore.

Cash Flow Implications

  • Net cash used in operating activities: ₹(1,188.78) lakh
  • Net cash from investing activities: ₹1,189.71 lakh
  • Cash and cash equivalents at year-end: ₹1.77 lakh

Governance and Compliance Issues

The secretarial audit report highlighted several SEBI LODR non-compliances:

  • Delayed filing of Reconciliation of Share Capital Audit Report
  • Delayed submission of Audited Financial Results for March 2025
  • Non-submission of Impact of Audit Qualifications declaration
  • Shareholding Pattern not submitted in XBRL mode
  • Non-compliance with Structured Digital Database requirements
  • Non-appointment of qualified Company Secretary as Compliance Officer

Forward-looking Statements

The management stated: "The management remains committed to improving operational efficiency, controlling costs, exploring viable business opportunities, and establishing a sustainable growth trajectory in the coming years."

Additional Information

  • Corporate Office: House No. 1-38, First Floor, Satamrai (V), Shamshabad (M), Ranga Reddy District, Telangana - 501218
  • Nature of Business: Global trading of premium agricultural products (though no operations conducted during the year)