Annual General Meeting Details

  • Date: Wednesday, 30th September, 2026
  • Time: 10:00 a.m.
  • Venue: Registered office of the Company at Office No.1, E Wing, 1st Floor, Nandanvan Apartment, Kandivali Link Road, Opp. Laljipada Police Chowki, Kandivali (West), Mumbai 400067

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt the Audited Balance Sheet as at 31 March 2026, Statements of Profit and Loss, Cash Flow Statement for the year ended 31 March 2026 and Reports of Directors and Auditors

2. To appoint a Director in place of Mrs. Niddhi Shah (DIN: 11017302) who retires by rotation

Special Business:

3. Re-appointment of Mr. Dipesh Maru (DIN 09338263) as an Independent Director for a second term of 5 consecutive years (October 1, 2026 to September 30, 2031)

Financial Performance Summary (₹ in lakhs)

| Particulars | Year ended 31st March 2026 | Year ended 31st March 2025 |

| Sales & other Income | 208.86 | 130.51 |

| Expenditure | 203.93 | 124.92 |

| Profit/(Loss) before tax | 4.93 | 5.59 |

| Tax | 1.41 | 1.55 |

| Profit/(Loss) after tax | 3.52 | 4.04 |

Capital Structure Changes

  • Authorized Share Capital: ₹14,00,00,000 divided into 1,40,00,000 Equity Shares of ₹10 each
  • Paid-up Share Capital: ₹11,87,60,000 divided into 1,18,76,000 Equity Shares of ₹10 each as on March 31, 2026 (increased from ₹10,05,20,000 with 1,00,52,000 shares as of March 31, 2025)
  • Warrant Conversion: 18,24,000 warrants converted into equity shares during FY 2025-2026:
  • 6,00,000 shares on 30/04/2025
  • 6,68,000 shares on 05/05/2025
  • 5,56,000 shares on 08/05/2025
  • Reserves & Surplus: ₹889.68 lakhs (compared to ₹685.52 lakhs in previous year)
  • No dividend recommended for the year

Corporate Governance

Board Composition:

  • Mr. Rajul Shah - Chairman & Managing Director (DIN: 00227223)
  • Mr. Dipesh Maru - Independent Director (DIN: 09338263)
  • Mr. Nirav Modi - Independent Director (DIN: 08511481)
  • Mrs. Niddhi Shah - Non-Executive Director (DIN: 11017302)

Board Meetings:

  • 9 meetings held during FY 2025-2026
  • All directors attended all meetings except Mrs. Niddhi Shah who attended 8 out of 9 meetings

Key Managerial Personnel Changes:

  • Mr. Krunal Shah resigned as Company Secretary and Compliance Officer effective May 15, 2026
  • Mr. Ajay Shinde continues as Chief Financial Officer

Director Details for Reappointment

Mrs. Niddhi Shah:

  • DIN: 11017302
  • Date of Birth: September 10, 1997 (29 years)
  • Qualification: M.Com from Mumbai University, B.A.F from KES Shroff College
  • Experience: 8 years in Accounting, Audit & Taxation (GST), Admin and Client Service
  • First appointed: April 1, 2025
  • Shareholding: Nil
  • Relationship: Daughter-in-law of Mr. Rajul Shah

Mr. Dipesh Maru:

  • DIN: 09338263
  • Date of Birth: December 28, 1975 (51 years)
  • Qualification: Graduate from Mumbai University
  • Experience: 25+ years in garment industry, export business, Admin, Finance, Strategic Planning
  • First appointed: October 1, 2021
  • Shareholding: 84,000 shares (0.71%)
  • No relationship with other directors/KMP

Shareholding Pattern

  • Promoter Holding: 14,89,920 shares (12.55%)
  • Rajul Shah: 11,33,920 shares (9.55%)
  • Anand Shah: 3,56,000 shares (3.00%)
  • Public Holding: 1,03,86,080 shares (87.45%)
  • Top 10 Shareholders (non-promoter): Panchal Janak Navinbhai (5.05%), Sangita Pravinkumar Tundiya (4.68%), Parag Shah (3.60%), Shreeyansh Edutrade LLP (3.17%)
  • 100% shares in dematerialized form with ISIN INE155R01018

Key Financial Position (as at March 31, 2026)

  • Cash and Bank Balance: ₹36.50 lakhs
  • Investments: ₹1,044.00 lakhs
  • Inventories: ₹141.44 lakhs (primarily plots)
  • Trade Receivables: ₹54.45 lakhs
  • Unsecured Loans: ₹30.27 lakhs (from directors & others)
  • Property, Plant and Equipment: ₹0.18 lakhs (net block)

Internal Controls and Auditors

  • Statutory Auditor: M/s. Mittal & Associates, Chartered Accountants (Firm Registration Number 106456W)
  • Internal Auditor: M/s. Sanjay Kadam & Associates, Chartered Accountants
  • Secretarial Auditor: Ms. Pooja Malkan, Practising Company Secretary (CP No.: 19938)
  • Auditor's report contains unmodified opinion on financial statements and internal financial controls

Other Material Information

  • Business: Real estate/construction (NIC Code 6810) contributing 100% to turnover
  • No subsidiaries or holding companies
  • No material related party transactions except loan transactions with Managing Director
  • No deposits accepted under Sections 73 and 76 of Companies Act, 2013
  • No foreign exchange earnings/outgo during the year
  • No sexual harassment complaints received during the year
  • Corporate Social Responsibility: Not applicable to the company
  • All shares in dematerialized form with NSDL and CDSL
  • Registrar and Share Transfer Agent: Bigshare Services Private Limited

Voting Arrangements

  • Remote e-voting period: September 27, 2026 (9:00 A.M.) to September 29, 2026 (5:00 P.M.)
  • Cut-off date: September 23, 2026
  • E-voting service provider: Central Depository Services (India) Limited (CDSL)
  • Scrutinizer: Ms. Pooja Malkan, Practising Company Secretary

Utilization of Preferential Issue Proceeds

  • Original object: Investment in new business, working capital requirements, general corporate purpose
  • Original allocation: ₹2,87,28,000
  • Funds utilized: ₹2,87,28,000 fully utilized as of September 30, 2025
  • No deviation from stated objects

#Tags: #JetSolarLimited #AGM2026 #FY2026Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Neutral