Annual General Meeting Details

  • Meeting Date: Monday, September 28, 2026
  • Time: 3:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Cut-off date for e-voting: September 21, 2026
  • e-voting period: September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)

Agenda Items

Ordinary Business:

1. To consider and adopt Audited Financial Statements for FY ended March 31, 2026, with reports of Board of Directors and Auditors

2. To appoint director in place of Mr. Mansukhlal K. Virani (DIN: 00873403) who retires by rotation

Special Business:

3. Appointment of Secretarial Auditors: M/s. Kashyap R. Mehta & Partners, Practicing Company Secretaries (FRN: P2025GJ106000) for five consecutive years from FY 2026-27 to FY 2030-31 at remuneration of ₹50,000 plus applicable taxes for FY 2026-27, with fees for subsequent years to be mutually agreed

4. Shifting of Registered Office: From Plot No.129, Near J. B. Chemicals, G.I.D.C. Estate, Ankleshwar, Bharuch - 393002 to 907/A, B-Block, Mondeal Square, Near ISCON Elegance, Opp. Honest Restaurant, Prahladnagar Garden, S.G. Highway, Satellite, Ahmedabad - 380015 effective October 5, 2026

Financial Performance (FY 2025-26)

  • Sales: ₹0.24 lakh (Previous year: ₹0.92 lakh)
  • Loss before depreciation: ₹4.89 lakh (Previous year: ₹5.19 lakh)
  • Net Loss: ₹4.91 lakh (Previous year: ₹5.21 lakh)
  • Other Comprehensive Income: ₹0.73 lakh (Previous year: ₹7.47 lakh)
  • Accumulated Losses: ₹2,213.60 lakh (Previous year: ₹2,209.42 lakh)
  • EPS: (₹0.03) (Previous year: ₹0.02)
  • No dividend declared due to accumulated losses

Capital Structure

  • Authorized Share Capital: ₹2,500.00 lakh (2,50,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹1,484.68 lakh (1,52,50,000 equity shares of ₹10 each, less calls in arrears of ₹40.32 lakh)
  • Promoter Holding: 58.01% of total shareholding

Key Financial Positions (as at March 31, 2026)

  • Property, Plant and Equipment: ₹9.89 lakh
  • Investments: ₹20.94 lakh (₹0.17 lakh at cost, ₹20.77 lakh at FVOCI)
  • Inventories: ₹1.12 lakh
  • Trade Receivables: ₹9.37 lakh
  • Cash and Cash Equivalents: ₹15.64 lakh
  • Other Bank Balances: ₹20.27 lakh
  • Current Tax Assets: ₹71.43 lakh
  • Borrowings: ₹892.50 lakh (Inter Corporate Deposits repayable on demand)
  • Trade Payables: ₹10.56 lakh

Board of Directors

  • Mr. Mansukh K. Virani - Chairman & Whole-time Director (DIN: 00873403)
  • Mrs. Kiran M. Virani - Director (DIN: 07126947)
  • Mr. Vivek Singhal - Independent Director (DIN: 00472221)
  • Mr. Hiren B. Hirpara - Independent Director (DIN: 02164972)

Key Managerial Personnel

  • Mr. Dipak S. Patel - Chief Finance Officer (Remuneration: ₹2,40,000)
  • Mrs. Bhoomi S. Shah - Company Secretary (Remuneration: ₹2,40,000)

Auditors

  • Statutory Auditors: M/s. P S S P & Co., Chartered Accountants (FRN: 129147W) appointed for 5 years till conclusion of 38th AGM
  • Internal Auditors: M/s. V H Gundarwala & Co., Chartered Accountants
  • Secretarial Auditors: M/s. Kashyap R. Mehta & Partners, Company Secretaries

Registered Office & Share Transfer Agents

  • RTA: MUFG Intime India Private Limited, Ahmedabad

Corporate Governance Highlights

  • Board met 4 times during FY 2025-26
  • Audit Committee met 4 times during the year
  • No material related party transactions
  • No instances of fraud reported by auditors
  • No sexual harassment complaints received during the year
  • Company has Whistle Blower Policy and Vigil Mechanism in place

Tax and Legal Matters

  • Disputed Income Tax Liability: ₹81.64 lakh plus interest for AY 2017-18 (₹22.53 lakh paid, appeal pending before Commissioner)
  • Other Disputed Taxes: ₹73.13 lakh pending with ITAT, Ahmedabad and ₹33.00 lakh sales tax matter for FY 2001-02
  • EPCG Scheme Obligation: Liability for non-fulfillment of export obligation under EPCG scheme is currently non-ascertainable

Other Significant Disclosures

  • Company has not accepted any fixed deposits
  • No subsidiary/associate companies
  • 81.08% of equity shares are dematerialized
  • CSR provisions not applicable as company doesn't meet eligibility criteria
  • Green initiative adopted - annual report sent only through electronic mode