Financial Performance Highlights (FY 2025-26)

  • Revenue from Operations: ₹4,204.01 Lakhs (decreased 15.57% from FY25 ₹4,979.72 Lakhs)
  • Total Income: ₹4,240.36 Lakhs (including other income of ₹36.35 Lakhs)
  • Profit Before Tax (PBT): ₹258.01 Lakhs (decreased 31.3% from FY25 ₹375.59 Lakhs)
  • Profit After Tax (PAT): ₹191.62 Lakhs (decreased from FY25 ₹283.72 Lakhs)
  • Earnings Per Share (EPS): ₹2.62 (FY25: ₹3.89)
  • Total Comprehensive Income: ₹192.30 Lakhs

The company attributed the revenue decline to "Geo International Politics" and supply chain disruptions from the Russia-Ukraine conflict.

Capital Structure

  • Authorized Share Capital: ₹9,00,00,000 (9 Crore)
  • Paid-up Share Capital: ₹7,29,52,330 (7.29 Crore)
  • No change in share capital during the year
  • Promoter Holding: Ashish Aggarwal (45.85%), Rekha Aggarwal (7.04%)
  • Dematerialized Shares: 88.33% of total shares

Annual General Meeting Details

  • 34th AGM Date: Wednesday, September 30, 2026 at 10:00 AM IST
  • Venue: Registered Office at Narela Piao Manihari Road, Kundli, Sonipat, Haryana, 131028
  • Cut-off date for e-voting: September 23, 2026
  • Remote e-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)

AGM Agenda Items

Ordinary Business:

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

2. Re-appointment of Mr. Raghav Aggarwal (DIN: 09131499) as Director liable to retire by rotation

Special Business:

3. Re-appointment of Mrs. Shweta Nathani (DIN: 09156909) as Independent Director for a second term of 5 years from May 3, 2026 to May 2, 2031

Regulatory Compliance Matters

  • BSE Penalty: Initially imposed consolidated penalty of ₹85,22,397 for late/non-compliance of various SEBI LODR regulations (Corporate Governance, Shareholding Pattern, Financial Results, Annual Report) for previous financial years
  • Partial Waiver: BSE granted partial waiver on January 23, 2026
  • Final Payment: Company paid ₹12,06,397 on February 10, 2026 and residual payment on April 1, 2026
  • SAT Appeal: Company filed appeal before Securities Appellate Tribunal which was dismissed as withdrawn on April 2, 2026 after penalty payment

Foreign Exchange Transactions

  • Export Earnings: ₹1,474.44 Lakhs
  • Import of Raw Material & Capital Goods: ₹871.65 Lakhs
  • Net Foreign Exchange Earning: ₹550.20 Lakhs
  • Reduced Import Dependency: Imported raw material consumption decreased to 20.48% from 39.81% in previous year

Director Changes

  • Mr. Hemant Mangla resigned as Non-Executive & Independent Director w.e.f. July 24, 2025
  • Mr. Ashwani Mangla appointed as Non-Executive & Independent Director w.e.f. September 5, 2025

Key Managerial Personnel Changes

  • Mr. Pratyus Kumar resigned as Company Secretary & Compliance Officer w.e.f. May 30, 2025
  • Mr. Hardik Gujar appointed as Company Secretary & Compliance Officer w.e.f. August 14, 2025

Corporate Governance

  • Board Composition: 6 Directors (3 Executive, 3 Non-Executive Independent)
  • Board Meetings: 5 meetings held during FY25-26
  • Committee Meetings: Audit Committee (5), Nomination & Remuneration Committee (3), Stakeholders Relationship Committee (1)
  • Shareholder Complaints: 5 complaints received during year, all resolved satisfactorily

Related Party Transactions

  • Transactions with Jagan Automotives Pvt Ltd (Related Party): Purchases ₹58.11 Lakhs, Sales ₹198 Lakhs
  • Rent agreement with Mr. Ashish Aggarwal: ₹5 per sq. ft. for land measuring 66,591.10 sq. ft.
  • All transactions conducted at arm's length basis

Dividend and Reserves

  • Dividend: No dividend recommended for FY25-26
  • Transfer to Reserves: Entire profit of ₹191.62 Lakhs transferred to General Reserve

Plant Locations

1. Unit I: Narela Piao Manihari Road, Kundli, Sonipat, Haryana, 131028

2. Unit II: Plot No. 19 And 67, NSEZ Noida Gautam Budh Nagar, Uttar Pradesh, 201301

Banking Arrangements

  • Banker: Standard Chartered Bank
  • Working Capital Facility: ₹1,700 Lakhs sanctioned limit
  • Secured Against: Exclusive charge on property owned by Mr. Ashish Aggarwal and hypothecation of current assets & movable fixed assets

Contingent Liabilities

  • Custom duty dispute: ₹29.60 Lakhs pending with Commissioner (Appeal) for FY2019-20
  • Various export obligations against EPCG and Advance Licenses totaling approximately ₹3,300 Lakhs

Employee Benefits

  • Gratuity Liability: ₹21.60 Lakhs (recognized in balance sheet)
  • Total Employees: 260 permanent employees as of March 31, 2026
  • Median Remuneration Increase: 11% for employees excluding managerial personnel

Forward-looking Statements

The Directors' Report contains cautionary statements that forward-looking statements are subject to risks and uncertainties including government regulations, economic developments, tax laws, and competition.

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