Board Meeting Details
The meeting commenced at 04:00 PM and concluded at 04:50 PM on November 05, 2026.
Key Approvals and Outcomes
1. Unaudited Financial Results: Approved the unaudited financial results along with Limited Review Report for the half year ended September 30, 2026.
2. Director Appointment: Appointed Mr. Shivam Dineshbhai Sakariya (DIN: 12015703) as an Additional Director (Non-Executive & Independent) for a term of 1 year effective November 05, 2026. His profile indicates he is a qualified engineer with knowledge of dies industries and understanding of finance.
3. Director Resignation: Accepted the resignation of Mr. Yogeshbhai Kantilal Trivedi (DIN: 10496888) as Non-Executive (Independent) Director effective close of business hours on November 05, 2026. The resignation was due to pre-occupation and other personal commitments, with confirmation that there are no other material reasons. He held no directorships in other listed entities.
4. Board Committee Reconstitution: Approved reconstitution of the Committees of the Board following the change in management.
5. IPO Funds Utilization Statement: Approved the Statement on Deviation(s) or Variation(s) in utilization of funds raised through Initial Public Offer for the half-year ended September 30, 2026, pursuant to Regulation 32.
6. Postal Ballot Withdrawal: Withdrew the Postal Ballot Notice dated October 22, 2026, as the requirements could not be fulfilled.
7. Vendor Change: Approved partial change in the vendor for procurement of machinery disclosed in the Prospectus.
Financial Results Highlights (Half Year Ended September 30, 2026)
- Revenue from Operations: ₹1,119.15 lakh (vs ₹868.49 lakh for H1 FY26)
- Other Income: ₹7.60 lakh
- Total Revenue: ₹1,126.75 lakh
- Total Expenses: ₹925.81 lakh
- Profit Before Tax: ₹200.94 lakh
- Tax Expense: ₹34.86 lakh (Current tax), (₹0.36) lakh (Deferred tax credit)
- Profit After Tax: ₹166.45 lakh
- Earnings Per Share (Basic & Diluted): ₹4.17 (face value ₹10 each)
Balance Sheet Position (as at September 30, 2026)
- Total Shareholder's Funds: ₹3,617.58 lakh (Share Capital: ₹466.96 lakh, Reserves & Surplus: ₹3,150.62 lakh)
- Total Non-current Liabilities: ₹52.09 lakh
- Total Current Liabilities: ₹382.84 lakh
- Total Assets: ₹4,052.51 lakh
- Non-current Assets: ₹1,271.54 lakh
- Current Assets: ₹2,780.96 lakh (including Cash & Cash Equivalents: ₹1,063.38 lakh)
IPO Funds Utilization Details
- Total Amount Raised: ₹2,664.82 lakh through fresh issue of 13,59,600 equity shares at ₹196 per share (face value ₹10 + premium ₹186) on June 29, 2026.
- Utilization as of September 30, 2026: ₹1,619.58 lakh
- Purchase of new machineries: ₹515.00 lakh allocated of ₹1,440.00 lakh
- Renovation of manufacturing facility: ₹302.74 lakh allocated of ₹400.00 lakh
- General Corporate Purpose: ₹376.41 lakh allocated of ₹399.39 lakh
- Issue Expenses: ₹425.43 lakh fully utilized
- Balance Unutilized: ₹1,045.24 lakh
- Deviation/Variation: None reported. Audit Committee confirmed no deviation from objects stated in Prospectus.
Auditor Review
S V J K and Associates (FRN: 135182W) conducted limited review of unaudited financial results and issued no adverse comments.