Date: June 30, 2026 (Clarification), April 24, 2026 (Board Meeting)
Board Meeting Outcomes
The Board of Directors meeting was held on April 24, 2026, from 5:30 PM to 8:50 PM at the registered office in Mumbai. The Board inter alia considered and approved the following matters:
- Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026 along with the Auditor's Report.
- Appointment of M/s. Valawat & Associates as Internal Auditor of the Company for the financial year 2026-2027.
KMP / Board / Auditor Changes
Internal Auditor Appointment:
- Name of the Auditor: M/s. Valawat & Associates
- Type of Change: Appointment
- Date of Appointment: April 24, 2026
- Terms of Appointment: Appointed as Internal Auditor for the Financial Year 2026-2027.
- Brief Profile: The firm's partners are experienced in company law matters, taxation, audit, Central Excise, Custom Laws, Sales tax, and Project financing. The firm has served manufacturing and trading industries over the years, including NBFC, Insurance, Chemical, Education, Retail & Consumer, Media & Entertainment, Construction, Hospitality, Technology, and Banking sectors.
- Relationship with other directors: No relation disclosed.
Financial Results (Standalone)
For the Year Ended March 31, 2026:
- Revenue from Operations: ₹4,475.05 Lacs
- Other Income: ₹217.40 Lacs
- Total Income: ₹4,692.45 Lacs
- Total Expenses: ₹4,295.50 Lacs
- Profit Before Tax: ₹396.95 Lacs
- Income Tax Expense: ₹41.76 Lacs (Deferred Tax)
- Profit for the year: ₹355.18 Lacs
- Other Comprehensive Income: Nil
- Total Comprehensive Income: ₹355.18 Lacs
- Basic & Diluted EPS: ₹0.23 (on 15,42,44,874 equity shares of ₹2 each)
Balance Sheet Highlights (Standalone) as at March 31, 2026:
- Total Assets: ₹8,819.28 Lacs
- Total Equity: ₹6,274.26 Lacs
- Equity Share Capital: ₹3,084.90 Lacs
- Other Equity: ₹3,189.36 Lacs
- Total Liabilities: ₹2,545.03 Lacs
Comparative Figures (Standalone) for Year Ended March 31, 2025:
- Revenue from Operations: ₹3,058.02 Lacs
- Other Income: ₹179.98 Lacs
- Total Income: ₹3,238.00 Lacs
- Total Expenses: ₹4,185.34 Lacs
- Loss Before Tax: ₹(947.34) Lacs
- Income Tax Credit: ₹(17.23) Lacs (Deferred Tax)
- Loss for the year: ₹(930.11) Lacs
- Other Comprehensive Income: ₹(1.70) Lacs
- Total Comprehensive Income: ₹(928.42) Lacs
- Basic & Diluted EPS: ₹(1.04)
Financial Results (Consolidated)
For the Year Ended March 31, 2026:
- Revenue from Operations: ₹4,475.05 Lacs
- Other Income: ₹218.46 Lacs
- Total Income: ₹4,693.51 Lacs
- Total Expenses: ₹4,296.71 Lacs
- Profit Before Tax: ₹396.80 Lacs
- Income Tax Expense: ₹41.76 Lacs (Deferred Tax)
- Profit for the year: ₹355.03 Lacs
- Share of Profit/(Loss) of Associate and Joint Venture: ₹32.25 Lacs
- Other Comprehensive Income: Nil
- Total Comprehensive Income: ₹387.29 Lacs
- Basic & Diluted EPS: ₹0.25
Balance Sheet Highlights (Consolidated) as at March 31, 2026:
- Total Assets: ₹8,894.46 Lacs
- Total Equity: ₹6,304.91 Lacs
- Equity Share Capital: ₹3,084.90 Lacs
- Other Equity: ₹3,220.01 Lacs
- Total Liabilities: ₹2,589.55 Lacs
Auditor’s Report
Standalone and Consolidated Financial Statements:
- Auditor Name: M/s. VRCA & Associates, Chartered Accountants (Firm Registration No. 104727W)
- Type of Opinion: Unmodified (Clean) opinion on both standalone and consolidated financial statements.
- Key Observations from Annexure B (Internal Financial Controls Report):
- Reliability, integrity and security of information is inadequate as no one person is authorized to create new ledgers or update ledgers in Tally master data. Changes are done at Plant level without intimation to HO accounts.
- No standard operating policies and procedures observed for accounting for all the plants.
- Outstanding claims were not followed up timely (e.g., Input GST Credit claims, discounts from creditors).
- Stacking was not proper for Raw Material & Finished goods at plant level.
- Internal controls over Property, Plant and Equipment require strengthening; assets lack identifiable markings/tagging.
- An advance of ₹220.00 Lacs given to M/s. MKHS DEVELOPERS LLP for property acquisition has not yet materialized into an agreement.
- Filings of FLA Return, Form DPT-3, MSME-1, and Form 61A are pending.
- Non-compliance with statutory requirement for employer's contribution towards professional tax.
Regulatory Compliance Disclosure
A separate clarification was submitted to the National Stock Exchange of India Ltd on June 30, 2026, regarding queries on financial results submitted on April 24, 2026.
- Query 1: Financial results submitted were not as per the format prescribed by SEBI.
- Query 2: Financial results submitted in XBRL had discrepancies.
Company's Reply:
- The discrepancy observed between consolidated figures of "Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade" reported in the XBRL filing and the PDF version has been reconciled and rectified.
- Revised financial results were submitted on May 23, 2026, and are fully consistent in both XBRL and PDF formats.
- The observation regarding non-compliance due to the absence of a balancing figure note has been addressed, and the required disclosure/note has been incorporated.
- The company confirms full compliance with Regulation 33(2)(b) of the SEBI (LODR) Regulations, 2015.
Other Operational / Legal / Strategic Disclosures
Notes to Accounts:
- The financial results are presented under India Accounting Standards (Ind AS).
- The company has only one reportable segment: manufacturing of PP, PVC profiles, and other stationery items.
- Figures for the quarter ended March 31, 2026, and March 31, 2025, are balancing figures between the audited full-year figures and the limited reviewed year-to-date figures up to the third quarter.
- There were no investor complaints during the quarter.
Dividend Declaration:
Not Specified. The Auditor's Report explicitly states: "The Company has not declared or paid any Dividend during the year and has not proposed final dividend for the year."