Financial Performance Highlights (FY 2025-26)

  • Revenue from Operations: ₹1,857.81 lakhs (decreased 24.70% from ₹2,447.24 lakhs in FY25)
  • Other Income: ₹6.04 lakhs (₹9.53 lakhs in FY25)
  • Total Income: ₹1,863.85 lakhs (₹2,456.77 lakhs in FY25)
  • Total Expenditure: ₹2,067.82 lakhs (₹2,629.70 lakhs in FY25)
  • Loss Before Tax: ₹203.97 lakhs (₹172.92 lakhs in FY25)
  • Tax Expense: ₹0.28 lakhs
  • Net Loss After Tax: ₹204.24 lakhs (₹173.11 lakhs in FY25)
  • Earnings Per Share: (₹0.85) per share ((₹0.72) in FY25)
  • Balance Carried Forward: (₹204.24) lakhs

Annual General Meeting Details

  • Date: Tuesday, September 29, 2026
  • Time: 2:00 PM (IST)
  • Mode: Video Conferencing (VC) / Other Audio Visual Means (OAVM)
  • Cut-off Date: September 22, 2026
  • Remote e-Voting Period: September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)

Agenda Items

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

2. Re-appointment of Mr. Hiteshkumar Chhaganlal Kothari (DIN: 01217705) who retires by rotation

3. Appointment of M/s. G M C A & CO., Chartered Accountants (FRN: 109850W) as Statutory Auditors for 5 years (FY 2026-27 to 2030-31)

Board of Directors

  • Mr. Ankit J. Shah - Managing Director (DIN: 02695987)
  • Mrs. Reema A. Shah - Executive Director
  • Mr. Hitesh C. Kothari - Non-Executive Non-Independent Director
  • Mr. Vidhyesh Dalwadi - Non-Executive Independent Director (Chairman)
  • Mr. Bhavesh Mamnia - Non-Executive Non-Independent Director
  • Mr. Savajibhai D. Galiya - Non-Executive Independent Director

Key Management Personnel

  • Chief Financial Officer: Mr. Nishant D. Thakkar
  • Company Secretary and Compliance Officer: Mr. Rohit Rawat

Auditor Changes

  • M/s. Maak & Associates, Chartered Accountants (FRN: 135024W) resigned as Statutory Auditors on August 18, 2026 (after FY end)
  • Proposed new auditors: M/s. G M C A & CO., Chartered Accountants (FRN: 109850W)
  • Secretarial Auditors: M/s. Anisha Jhunjhunwala & Associates (FRN: S2021GJ789700)
  • Internal Auditors: M/s. Nishit P Shah & Co, Chartered Accountants (FRN: 158058W)

Capital Structure

  • Authorized Share Capital: ₹12,00,00,000 (2,40,00,000 equity shares of ₹5 each)
  • Paid-up Share Capital: ₹12,00,00,000 (2,40,00,000 equity shares of ₹5 each fully paid-up)
  • Dematerialized Shares: 2,16,49,360 shares (90.21% of paid-up capital)

Regulatory Compliance Issues

  • Company operates as an unregistered NBFC-ICC (Investment and Credit Company) despite meeting criteria
  • Delayed filing of RBI returns (DNBS 10 and DNBS 02 forms)
  • Received fines from BSE for non-compliance with SEBI LODR Regulations:
  • ₹5,21,560 fine for Regulation 17(1), 18(1), and 27 violations (waived after appeal)
  • ₹4,30,700 fine for Regulation 17(1) violation (waiver application pending)

Other Material Information

  • No dividend recommended for FY 2025-26
  • Register of Members and share transfer books closed from September 24-29, 2026
  • Company has no subsidiaries, joint ventures, or associate companies
  • No material changes in nature of business
  • No significant orders passed by regulators/courts impacting going concern status
  • No fraud reported by auditors under Section 143(12) of Companies Act, 2013
  • No sexual harassment complaints received or pending during the year

Corporate Governance

  • Board met 8 times during FY 2025-26
  • Audit Committee met 5 times
  • Nomination and Remuneration Committee met 1 time
  • Stakeholders Relationship Committee met 5 times
  • 2 investor complaints received and resolved during the year