Key Correction Details

The company identified a technical/typographical error on Page 91 of the Annual Report under "Transactions with Related Parties during the year (as on 31.03.2026)".

  • The amount under "Purchase" in the column "Enterprises having Significant Influence" was incorrectly mentioned as ₹59.67 Lakh instead of the correct amount of ₹1,978.09 Lakh.
  • The revision is limited to this specific inadvertent error only.
  • The revised Annual Report has been submitted to BSE for record.

Financial Performance Highlights (FY 2025-26)

Income Statement:

  • Revenue from operations: ₹11,169.84 Lakhs (compared to ₹12,171.97 Lakhs in FY25)
  • Other Income: ₹222.27 Lakhs (compared to ₹177.49 Lakhs in FY25)
  • Profit before Tax & Exceptional items: ₹1,129.70 Lakhs (compared to ₹1,126.83 Lakhs in FY25)
  • Exceptional Items: ₹1.20 Lakhs (compared to nil in FY25)
  • Profit before Tax: ₹1,128.51 Lakhs (compared to ₹1,126.83 Lakhs in FY25)
  • Tax Expense: ₹284.42 Lakhs (compared to ₹286.29 Lakhs in FY25)
  • Profit After Tax: ₹844.09 Lakhs (compared to ₹840.54 Lakhs in FY25)

Balance Sheet Position (as at March 31, 2026):

  • Equity: ₹1,033.67 Lakhs
  • Reserves and Surplus: ₹4,940.98 Lakhs
  • Total Borrowings: ₹3,298.07 Lakhs
  • Earnings Per Share: ₹8.13 (compared to ₹8.51 in FY25)

Business Operations Update

Company Overview:

  • Incorporated in 2003, specializing in railway infrastructure with over two decades of experience
  • Core expertise in design, supply, erection, testing and commissioning of 25 KV, 50 Hz Single Phase Traction Overhead Equipment (OHE)
  • Expanded into railway maintenance work during FY26, representing strategic diversification
  • Project footprint across multiple Indian Railways zones including Eastern, South Eastern, South East Central, North Central, West Central, Northern, North Western, South Central and East Coast Railway

Order Book & Business Development:

  • Secured new work orders aggregating ₹188.79 crore during FY25-26
  • Balance work portfolio stood at ₹500+ crore as at March 31, 2026
  • Institutional relationships include RVNL, IRCON, KRCL, DFCCIL, IPRCL, and private-sector clients including Adani, JSW, Shree Cement, Real Ispat, Sarda Energy, SAIL (Bhilai) and RKTC

Corporate Actions

Share Capital Changes:

  • During the year, 1,80,000 fully convertible warrants were converted into equivalent number of Equity Shares
  • Paid-up Equity Share Capital increased to ₹10,33,66,860/-, comprising 1,03,36,686 Equity Shares of ₹10/- each
  • Remaining 15,92,000 warrants not exercised within prescribed period were forfeited and lapsed

Credit Rating:

  • Subsequent to year-end, obtained credit rating from CARE Ratings Limited for banking facilities aggregating ₹41 Crore
  • Rating: CARE BBB-; Stable for long-term bank facilities of ₹28 Crore and CARE BBB-; Stable / CARE A3 for long-term/short-term bank guarantee facilities of ₹13 Crore

Annual General Meeting Details

23rd AGM to be held on: September 30, 2026 at 4:00 PM at Registered Office: "Mangal Smriti", Bajpai Ground, Tilak Nagar, Bilaspur (C.G.) 495001

Ordinary Business:

1. Adoption of Audited Financial Statements for year ended March 31, 2026

2. Re-appointment of Mr. Rishi Jashwantrai Karia (DIN: 00288912) as Director retiring by rotation

Special Business:

3. Ratification of remuneration payable to Cost Auditors (M/s Yash & Associates) - ₹60,000 per year for FY26 and FY27

4. Approval for related party transactions up to maximum value of ₹40 crores for FY26-27

5. Appointment of Dr. Tavinderpal Singh Arora (DIN: 09043185) as Independent Director for term July 6, 2026 to July 5, 2031

6. Appointment of Mrs. Aanchal Agrawal (DIN: 11923009) as Independent Director for term October 1, 2026 to September 30, 2031

Corporate Governance

Board Composition:

  • Mr. Rahul Chandrakant Pohekar - Independent Director
  • Dr. Tavinderpal Singh Arora - Independent Director
  • Mr. Nilesh Jobanputra - Managing Director & CFO
  • Mrs. Daksha Jobanputra - Executive Director
  • Mr. Rishi Jashwantrai Karia - Non-Executive Director

Key Managerial Personnel:

  • Mr. Nilesh Jobanputra - Managing Director & CFO
  • Ms. Shristi Ramani - Company Secretary

Auditors:

  • Statutory Auditor: Jay Gupta & Associates, Kolkata
  • Internal Auditor: Shrivastava Gupta & associates, Bilaspur
  • Secretarial Auditor: Rohtash Agrawal & Co., Raipur
  • Cost Auditor: Yash & Associates, Indore

CSR Initiatives

  • CSR contribution extended to Dinbandhu Sahyog Sanstha for community welfare activities
  • Support for "Nasha Mukt Yuva for Viksit Bharat" campaign across 75 villages in Mungeli district
  • Total CSR expenditure: ₹15.05 Lakhs against requirement of ₹14.92 Lakhs

Important Dates

  • Record Date for AGM: September 24, 2026
  • E-voting period: September 26, 2026 (10:00 PM) to September 29, 2026 (5:00 PM)
  • Date of Board approval of revised report: September 5, 2026