Annual General Meeting Details

  • Date: Monday, September 21, 2026
  • Time: 03:00 P.M.
  • Venue: Hotel City Park, KP Block, Poorvi Pitampura, Pitampura, New Delhi – 110034
  • Business to be transacted:
  • Ordinary Business: Adoption of audited standalone and consolidated financial statements for FY25-26 and re-appointment of Mr. Pawan Chohan (DIN: 00070461) as director retiring by rotation
  • Special Business: Appointment of statutory auditors to fill casual vacancy caused by resignation of previous auditors

Financial Performance (Standalone)

FY25-26 vs FY24-25 (₹ in Lakhs):

  • Revenue from Operations: ₹5,391.20 (vs ₹5,375.26) - +0.30%
  • Total Income: ₹5,420.75 (vs ₹5,436.82) - -0.30%
  • Total Expenses: ₹4,735.86 (vs ₹4,911.32) - -3.57%
  • Profit Before Tax: ₹725.80 (vs ₹485.40) - +49.53%
  • Profit After Tax: ₹561.98 (vs ₹334.53) - +67.99%
  • EPS (Basic & Diluted): ₹8.04 (vs ₹5.42) - +48.38%

Note: Profit Before Tax includes net prior period income of ₹40.91 lakh in FY25-26 and net prior period expense of ₹40.10 lakh in FY24-25.

Financial Performance (Consolidated)

FY25-26 vs FY24-25 (₹ in Lakhs):

  • Revenue from Operations: ₹5,999.32 (vs ₹6,023.96) - -0.41%
  • Total Income: ₹6,028.89 (vs ₹6,085.52) - -0.93%
  • Profit Before Tax: ₹708.41 (vs ₹530.51) - +33.53%
  • Profit After Tax: ₹552.58 (vs ₹368.61) - +49.91%
  • EPS (Basic & Diluted): ₹7.91 (vs ₹5.97) - +32.50%

Key Financial Position (Standalone as at March 31, 2026)

  • Share Capital: ₹825.48 Lakhs (82,54,828 equity shares of ₹10 each)
  • Reserves and Surplus: ₹2,726.65 Lakhs
  • Net Worth: ₹3,552.13 Lakhs
  • Current Ratio: 3.95x
  • Borrowings: Nil (vs ₹20.15 Lakhs previous year)
  • Cash and Bank Balances: ₹387.96 Lakhs
  • Inventories: ₹969.48 Lakhs
  • Trade Receivables: ₹1,148.04 Lakhs

IPO Details and Utilization

Public Issue Completed: December 11, 2025

  • Total Issue Size: ₹18.74 Crore
  • Issue Price: ₹82 per equity share
  • Equity Shares: 22,84,800 (Fresh Issue: 18,28,800; Offer for Sale: 4,56,000)
  • Net Proceeds Available for Utilization: ₹13.32 Crore (as of June 30, 2026)

Objects of Issue and Utilization Status:

  • Funding capital expenditure requirements: ₹2.82 Crore (Unutilized)
  • Funding working capital requirements: ₹9.00 Crore (Unutilized)
  • General Corporate Purposes: ₹1.43 Crore (Unutilized)
  • Total Unutilized: ₹13.25 Crore (temporarily invested in fixed deposits)

Board of Directors

As on March 31, 2026:

  • Mr. Ashok Goel (DIN: 00783117) - Chairman & Managing Director
  • Mr. Pawan Chohan (DIN: 00070461) - Whole-time Director
  • Mr. Masha Goel (DIN: 10257947) - Non-Executive Director
  • Ms. Nanika Mangla (DIN: 10960459) - Independent Director
  • Ms. Sonali Aggarwal (DIN: 05312244) - Independent Director

Changes during FY25-26:

  • Mr. Satish Kumar Agrawal (10462319) resigned as Independent Director effective August 26, 2025
  • Mr. Varun Kumar (02288449) appointed and subsequently resigned as Independent Director
  • Ms. Sonali Aggarwal appointed as Independent Director effective October 27, 2025

Key Managerial Personnel

As on March 31, 2026:

  • Mr. Ashok Goel - Chairman & Managing Director
  • Mr. Pawan Chohan - Whole-time Director
  • Ms. Kanika Gupta - Chief Financial Officer
  • Mr. Pankaj Dulhani - Company Secretary & Compliance Officer

Changes during FY25-26:

  • Mr. Himanshu Khosla resigned as CS & CO effective April 16, 2025
  • Mr. Pankaj Dulhani appointed as CS & CO effective July 8, 2025
  • Mr. Pankaj Dulhani resigned effective April 9, 2026
  • Ms. Anjali appointed as CS & CO effective May 15, 2026

Statutory Auditors

Previous Auditors: M/s. S A R N U M & Co. LLP, Chartered Accountants (Firm Registration No. 022686N/N500491)

  • Resigned effective July 25, 2026 due to preoccupation and other professional commitments

Proposed New Auditors: M/s. S A H A S & Associates, Chartered Accountants (Firm Registration No. 025389N)

  • Recommended by Audit Committee and appointed by Board on August 14, 2026
  • Remuneration: ₹5,00,000 per annum plus applicable taxes
  • Tenure: From date of member approval until conclusion of next AGM

Secretarial Auditor

M/s Nilesh A. Pradhan & Co., LLP, Practicing Company Secretaries

Key Observations in Secretarial Audit Report:

  • Financial statements for FY24-25 not rounded off as per Schedule III
  • Financial statements for FY24-25 not signed as per Section 134(1)
  • Form AOC-1 not attached with FY24-25 financial statements
  • Certain forms filed after due date with additional fees
  • CSR obligation for FY25-26 not fulfilled till March 31, 2026
  • Structured Digital Database entry for February 2026 made in April 2026

Management Response:

  • Observations related to FY24-25 have been addressed in FY25-26
  • CSR obligation subsequently fulfilled by transfer to PM CARES Fund
  • Compliance mechanisms strengthened for timely filings

Corporate Social Responsibility (CSR)

  • CSR provisions became applicable for first time in FY25-26
  • CSR Committee constituted on August 14, 2026
  • Average net profit for CSR calculation: ₹341.56 Lakhs
  • Required CSR expenditure: ₹6.83 Lakhs (2% of average net profit)
  • Actual CSR spent: ₹6.85 Lakhs (transferred to PM CARES Fund on August 13, 2026)

Dividend

No dividend recommended for FY25-26 due to growth plans, capital requirements, and need to retain resources for business expansion.

Related Party Transactions

All related party transactions were in ordinary course of business and at arm's length basis. Material transactions included:

  • Sale of goods to Pasadena Retail Private Limited (Joint Venture): ₹36.65 Lakhs
  • Marketing services availed from Pasadena Retail Private Limited: ₹10.84 Lakhs
  • Marketing services from Gauge Advertising & Marketing Private Limited: ₹5.99 Lakhs
  • Office rent to M/s Gauge Advertising & Marketing: ₹14.40 Lakhs
  • Professional services from SBT Consulting Private Limited: ₹29.36 Lakhs
  • Professional services from Mr. Masha Goel: ₹16.50 Lakhs

Key Ratios (Standalone)

FY25-26 vs FY24-25:

  • Current Ratio: 3.95 (vs 2.74)
  • Debt-Equity Ratio: 0.00 (vs 0.01)
  • Interest Coverage Ratio: 54.06 (vs 22.52)
  • Inventory Turnover Ratio: 3.89 (vs 4.18)
  • Trade Receivables Turnover Ratio: 5.94 (vs 8.61)
  • Operating Profit Margin: 13.92% (vs 9.50%)
  • Net Profit Margin: 10.42% (vs 6.22%)
  • Return on Net Worth: 15.82% (vs 19.86%)

Business Overview

Luxury Time Limited operates in the premium and luxury watch ecosystem with integrated presence across:

  • Distribution of luxury watches (TAG Heuer, Bomberg, Exaequo)
  • Retail operations (Hublot boutiques in Mumbai and Bengaluru through JV)
  • Direct-to-consumer sales and e-commerce
  • After-sales service (Watch Clinics in Delhi and Mumbai)
  • Distribution of watch service tools (Bergeon, Horotec)
  • Brand promotion, PR and marketing support

Joint Ventures

Pasadena Retail Private Limited:

  • 50% ownership
  • Engaged in retail trading of premium and luxury watches
  • Investment: ₹275.00 Lakhs

Micron Watch Service Private Limited:

  • 49.90% ownership (incorporated August 22, 2025)
  • Engaged in watch servicing and customization
  • Investment: ₹4.99 Lakhs

Voting Arrangements for AGM

  • Remote e-voting period: September 18, 2026 (9:00 AM) to September 20, 2026 (5:00 PM)
  • Cut-off date for eligibility: September 14, 2026
  • Scrutinizer: Mr. Shoorveer Singh, Practising Chartered Accountant
  • E-voting service provider: National Securities Depository Limited (NSDL)

#Tags: #LuxuryTimeLimited #AGM2026 #AnnualReport #SEBIDisclosure #BSE_SME #IPO #FinancialResults #RegulatoryCompliance #Neutral