Financial Performance Highlights

  • Revenue from operations: ₹14,89,45,240 for FY 2025-26 (significant increase from ₹84,99,581 in FY 2024-25)
  • Net loss: ₹72,42,835 for FY 2025-26 (reduced from ₹77,45,550 in FY 2024-25)
  • Financial costs: ₹1,801 for FY 2025-26 (₹490 in previous year)
  • Depreciation: ₹643 for FY 2025-26 (₹800 in previous year)
  • Total comprehensive income: Loss of ₹72,42,835 for current year (loss of ₹77,45,550 in previous year)
  • Earnings per share: Basic and diluted loss per share of ₹0.170 (₹0.182 loss in previous year)

Capital Structure

  • Authorized share capital: 50,00,000 equity shares of ₹10 each (₹50,00,000)
  • Issued, subscribed and paid-up capital: 42,49,900 equity shares fully paid up of ₹10 each (₹4,24,99,000)
  • Promoter shareholding: 46.72% of total share capital

Key Corporate Developments

  • Business alteration: At Extra Ordinary General Meeting held on December 22, 2025, the company altered its main business objects by adding various additional business activities
  • Merger resolution: Board of directors passed resolution on February 20, 2026 for merger of Kiran Syntex Limited (Transferee Company) with Gujarat Kiran Polytex Limited (Transferor Company)
  • Director changes: Multiple director appointments and cessations during the year, including appointment of two independent directors

Board and Management

  • Board meetings: 7 meetings held during FY 2025-2026
  • Key managerial personnel: Maheshkumar Motiram Godiwala (Managing Director), Ami Jigar Godiwala (CFO & Director), Jinal Shaileshbhai Shah (Company Secretary)
  • Board composition: Includes chairman & managing director, non-executive director, and two independent directors

Audit and Compliance

  • Statutory auditors: M/s Patel Kabrawala and Co., Chartered Accountants
  • Secretarial auditor: K. Dalal & Co., Company Secretaries
  • Audit committee: Comprises Rakesh Rameshchandra Modi (Chairman), Jitendra Dineshchandra Dina, and Maheshkumar Motiram Godiwala
  • Internal financial controls: Company states adequate internal financial controls are in place

Contingent Liabilities

  • EPF dispute: ₹65,53,895 demand from EPFO for delayed remittance and interest for period 1999-2005, currently appealed at EPF Appellate Tribunal
  • Financial impact: Not provided in disclosure, matter under adjudication

Related Party Transactions

  • Advance to Sudershan Texprint Private Limited: ₹54,00,000 outstanding without specified repayment terms or interest
  • Loans from directors: Short-term borrowing from Mahesh Motiram Godiwala of ₹20,95,000 (₹9,15,000 in previous year)

Annual General Meeting

  • 40th AGM date: September 12, 2026 at 11:00 AM at registered office
  • Business to be transacted:

1. Adoption of audited financial statements and reports

2. Re-appointment of Ami Jigar Godiwala as director retiring by rotation

  • E-voting period: From September 9, 2026 (9:00 AM) to September 11, 2026 (5:00 PM)
  • Record date: September 5, 2026
  • Share transfer book closure: September 7, 2026 to September 12, 2026

Other Significant Disclosures

  • Employee strength: 1 permanent employee on rolls as of March 31, 2026
  • Bankers: HDFC Bank (Pal Branch, Surat) and Union Bank of India (Athwagate Branch, Surat)
  • Registrar and transfer agent: Purva Share Registry India Pvt Ltd
  • Corporate governance: Provisions of SEBI LODR Regulations relating to corporate governance report not applicable to the company