Annual General Meeting Details
- Date: Wednesday, September 30, 2026
- Time: 12:00 PM IST
- Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
- Book Closure: September 23, 2026 to September 30, 2026 (both days inclusive)
Business to be Transacted
Ordinary Business:
1. Adoption of Audited Standalone and Consolidated Financial Statements for FY ended March 31, 2026
2. Re-appointment of Mr. Vinod Agrawal (DIN: 00413378) as Non-Executive Director retiring by rotation
Special Business:
3. Re-appointment of Mr. Ashok Agrawal (DIN: 00944735) as Chairman & Managing Director for 5 years from April 1, 2026 to March 31, 2031
- Remuneration: Salary of ₹50,000 per month plus perquisites including furnished accommodation, car with driver, club facility, medical expenses, LTA, etc.
- Minimum Remuneration: Payable in case of loss or inadequacy of profits as per Section 197(3) of Companies Act, 2013
4. Appointment of M/s. Kunal Sharma & Associates as Secretarial Auditor for 5 years from FY 2026-27 to FY 2030-31
- Fees: ₹75,000 for FY 2026-27 plus applicable taxes and out-of-pocket expenses
5. Re-appointment of Mr. Kalpesh Mehta (DIN: 08815356) as Non-Executive Independent Director for second term of 5 years from January 1, 2026 to December 31, 2030
6. Re-appointment of Mrs. Meenu Maheshwari (DIN: 07113136) as Non-Executive Independent Director for second term of 5 years from June 21, 2026 to June 20, 2031
Financial Highlights (Standalone)
FY 2025-2026 vs FY 2024-2025 (₹ in Lakhs):
- Total Revenue: ₹42.05 (Previous: ₹56.56)
- Profit Before Depreciation & Exceptional Items: ₹41.17 (Previous: ₹44.37)
- Depreciation: ₹0.03 (Previous: ₹0.03)
- Net Profit Before Tax: ₹0.88 (Previous: ₹12.19)
- Current Tax: ₹0.10 (Previous: ₹1.90)
- Net Profit After Tax: ₹0.78 (Previous: ₹10.29)
- EPS (Basic & Diluted): ₹0.02 (Previous: ₹0.33)
Financial Highlights (Consolidated)
FY 2025-2026 vs FY 2024-2025 (₹ in Lakhs):
- Total Revenue: ₹42.05 (Previous: ₹56.56)
- Share of Loss from Associate (Palco Metals): ₹(13.37) (Previous: ₹(11.04))
- Net Loss Before Tax: ₹(12.49) (Previous: Profit of ₹1.15)
- Net Loss After Tax: ₹(12.59) (Previous: Profit of ₹0.97)
- EPS (Basic & Diluted): ₹(0.40) (Previous: ₹0.03)
Key Financial Positions (Standalone as of March 31, 2026)
- Cash & Cash Equivalents: ₹49.19 Lakhs
- Trade Receivables (net of provision): ₹17.11 Lakhs
- Loans: ₹380.00 Lakhs
- Investments: ₹46.32 Lakhs
- Property, Plant & Equipment: ₹0.56 Lakhs
- Equity Share Capital: ₹315.84 Lakhs (31,58,400 shares of ₹10 each)
- Other Equity: ₹191.10 Lakhs
Material Events and Changes
1. Increase in Authorized Share Capital: Approved by shareholders at EGM on April 25, 2026 from ₹4.00 Crore to ₹34.00 Crore
2. Share Purchase Agreement: Promoters entered into SPA dated March 26, 2026 with Mr. Ashu Bishnoi and Mr. Yagnik Tank for proposed sale of equity shares, subject to regulatory approvals
3. Change in Key Managerial Personnel: Mr. Vinod Agrawal resigned as CFO from February 27, 2026, Mr. Raj Gajjar appointed as CFO from same date
4. Director Changes: Mr. Vinodkumar Singh appointed as Additional Executive Director on March 26, 2026 and resigned on July 30, 2026; Mr. Nisshant Darak appointed as Additional Independent Director on April 8, 2026 and resigned on August 14, 2026
Dividend and Reserves
- Dividend: No dividend recommended for FY 2025-2026
- Transfer to Reserve: ₹0.18 Lakhs (20% of net profit) transferred to Special Reserve Fund under Section 45-IC of RBI Act, 1934
Related Party Transactions
Disclosed transactions with key managerial personnel:
- Ashok Agrawal: Remuneration of ₹6.00 Lakhs
- Shweta Saparia: Salary of ₹7.08 Lakhs
- Sitting fees to independent directors: ₹0.90 Lakhs
E-Voting Arrangements
- Remote E-Voting Period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Cut-off Date: September 23, 2026
- E-Voting Agency: Central Depository Services (India) Limited
- Scrutinizer: Mr. Bipin L. Makwana, Practicing Company Secretary
Registered Office and Contact Information
RTA: MCS Share Transfer Agent Limited, Ahmedabad
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