Key Financial Performance (FY 2025-26)

Income Statement Highlights (₹ in lakhs):

  • Revenue From Operations: ₹132.92 (Previous Year: ₹127.07)
  • Other Income: ₹107.95 (Previous Year: ₹132.78)
  • Total Income: ₹240.87 (Previous Year: ₹259.85)
  • Profit before Depreciation and Taxes: (₹47.20) (Previous Year: (₹43.14))
  • Depreciation: ₹8.62 (Previous Year: ₹9.32)
  • Profit/(Loss) before tax: (₹55.82) (Previous Year: (₹52.46))
  • Tax Expense: (₹14.12) (Previous Year: (₹13.32))
  • Current Tax: ₹29.28 (Previous Year: ₹27.56)
  • Deferred Tax: (₹43.41) (Previous Year: (₹40.87))
  • Prior Year Tax: (₹0.56) (Previous Year: (₹20.07))
  • Net Profit/(Loss) for the period: (₹41.69) (Previous Year: (₹39.15))
  • Other Comprehensive Income: (₹3.26) (Previous Year: (₹2.78))
  • Total Comprehensive Income: (₹44.95) (Previous Year: (₹41.93))

Key Financial Ratios:

  • Current Ratio: 46.59 times (Previous Year: 70.90 times)
  • Operating Profit Margin: (42.00)% (Previous Year: (41.28)%)
  • Net Profit Margin: (31.37)% (Previous Year: (30.81)%)
  • Return on Net Worth: (1.51)% (Previous Year: (1.39)%)

Capital Structure:

  • Paid-up Equity Share Capital: ₹268.75 lakhs (53,75,000 equity shares of ₹5 each)
  • No shares issued during the year
  • 94% of shares held in dematerialized form

Investments and Assets:

  • Non-current Investments: ₹97.72 lakhs (Previous Year: ₹116.68 lakhs)
  • Current Investments: ₹57.71 lakhs (Previous Year: ₹56.49 lakhs)
  • Bank Fixed Deposits (current): ₹76.54 lakhs (Previous Year: ₹98.12 lakhs)
  • Bank Fixed Deposits (non-current): ₹41.72 lakhs (Previous Year: ₹9.46 lakhs)
  • Cash and Cash Equivalents: ₹7.34 lakhs (Previous Year: ₹7.26 lakhs)

Dividend:

  • No dividend recommended for FY 2025-26 due to losses

Annual General Meeting Details

  • 80th AGM to be held on Wednesday, 9th September 2026 at 11:30 AM IST
  • Meeting to be conducted through Video Conferencing/Other Audio Visual Means
  • Cut-off date for determining members entitled to vote: 2nd September 2026
  • Remote e-voting period: 6th September 2026 (9:00 AM) to 8th September 2026 (5:00 PM)

Agenda Items

Ordinary Business:

1. To adopt Audited Financial Statements for FY 2025-26 and Reports of Directors and Auditors

2. To appoint director in place of Mr. Premchand Surana (DIN: 06508125) who retires by rotation

Special Business:

3. Re-appointment of Mr. Daarrpan Shah (DIN: 09449828) as Independent Director for second term of 5 years (30th December 2026 to 29th December 2031)

Board of Directors

Current Composition:

  • Mr. Premchand Surana (Non-Executive, Non-Independent)
  • Mr. Rajesh B. Shah (Non-Executive, Non-Independent)
  • Mr. P. K. Shashidharan (Non-Executive, Non-Independent)
  • Mr. Daarrpan Shah (Independent Director)
  • Mrs. Dipti Zaveri (Independent Director)
  • Mr. Jwalasingh Rajput (Independent Director, appointed w.e.f. 27.05.2025)

Director Appointments/Reappointments:

  • Mr. Jwalasingh Rajput was appointed as Additional Director (Independent) on 27th May 2025 and approved by members at AGM on 20th August 2025
  • Mr. Premchand Surana retires by rotation and offers himself for reappointment
  • Mr. Daarrpan Shah's first term as Independent Director expires on 29th December 2026; proposed for second term

Key Managerial Personnel

  • Mr. Thomas Koshy - Chief Executive Officer
  • Mr. Tarunkumar Panchal - Chief Financial Officer
  • Mrs. Mitushi Shah - Company Secretary & Compliance Officer
  • No changes in KMPs during the year

Corporate Governance

  • Board met 4 times during FY 2025-26
  • All directors attended at least 3 out of 4 meetings
  • Company has constituted Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee
  • Secretarial Audit conducted by Parikh Dave & Associates
  • No instances of fraud reported by auditors

Related Party Transactions

  • Company has leasing arrangement with Cera Sanitaryware Limited (associate entity)
  • Monthly lease rent: ₹11.21 lakhs
  • Security deposit from Cera Sanitaryware: ₹20.29 lakhs
  • All related party transactions were at arm's length and approved by Audit Committee

Auditors

  • Statutory Auditors: N. M. Nagri & Co., Chartered Accountants
  • Appointed for 5 years from conclusion of 76th AGM till conclusion of 81st AGM
  • Audit Fees: ₹65,000 for FY 2025-26
  • Auditors' report does not contain any qualifications or adverse remarks

Other Significant Information

  • Company is not engaged in manufacturing activities currently but maintains infrastructure assets
  • Employee strength: 5 employees as on 31st March 2026
  • Company has implemented Vigil Mechanism (Whistle Blower Policy)
  • No pending applications under Insolvency and Bankruptcy Code, 2016
  • No change in nature of business during FY 2025-26