AGM Details

  • Date: Friday, September 25, 2026
  • Time: 11:00 A.M. (IST)
  • Mode: Video Conferencing / Other Audio Visual Means (VC/OAVM)
  • Record Date: September 18, 2026 to September 25, 2026 (both days inclusive)
  • E-voting Period: September 22, 2026 (9:00 AM) to September 24, 2026 (5:00 PM)

Ordinary Business Agenda

1. Adoption of Audited Financial Statements

To receive, consider and adopt the Audited Financial Statement of the Company for FY ended March 31, 2026, consisting of:

  • Balance Sheet as at March 31, 2026
  • Statement of Profit & Loss
  • Cash Flow Statement
  • Statement of Changes in Equity
  • Explanatory Notes with Board's Report and Auditors' Report

2. Re-appointment of Director

To appoint Shri Rahul J. Parekh (DIN: 00500328) who retires by rotation and offers himself for re-appointment.

3. Re-appointment of Statutory Auditors

To re-appoint M/s Jain Chowdhary & Co., Chartered Accountants (Firm Registration No. 113267W) as Statutory Auditors for second term of five consecutive years from conclusion of 35th AGM until conclusion of 40th AGM.

Special Business Agenda

4. Ratification of Cost Auditor Remuneration

To ratify remuneration payable to M/s. Dalwadi & Associates (Firm Registration No.: 000338), Cost Auditor, at ₹80,000 plus applicable taxes and out-of-pocket expenses for FY 2025-26.

5. Appointment of Secretarial Auditor

To appoint M/s Rohit Periwal And Associates, Practicing Company Secretaries (Firm Registration No. S2019GJ677700) as Secretarial Auditor for three consecutive financial years from FY 2026-27 to FY 2028-29.

6. Re-appointment of Independent Director

To re-appoint Mr. Nehal Shah (DIN: 00020062) as Non-Executive Independent Director for second term of five years from October 1, 2026 to September 30, 2031.

7. Revision of Managerial Remuneration

To revise managerial remuneration of Shri Rahul J. Parekh (DIN: 00500328), Managing Director, for remaining tenure of his office with following components:

  • Salary: ₹6,00,000 per month (₹72 lakh per annum)
  • PF Contribution: As per Company rules
  • Gratuity: Half month's basic salary for each completed year of service
  • Leave Travel Allowance: For self and family once annually
  • Car & Telephone: Company-provided car with driver; cell phone reimbursement
  • Personal Accident Insurance: Premium not exceeding ₹50,000 per annum
  • Club Fees: Membership fees for two clubs in India
  • Medical Expenses: Reimbursement for self and family
  • Other Allowances: As per Company rules for senior officers

Financial Performance Highlights (FY 2025-26)

Income Statement

  • Income from Operations & Other Income: ₹116.17 crore (Previous Year: ₹94.82 crore)
  • Profit Before Tax: ₹29.42 crore (Previous Year: ₹21.93 crore)
  • Net Profit After Tax: ₹21.78 crore (Previous Year: ₹16.78 crore)
  • Operating Profit Margin: 26.79% (Previous Year: 24.85%)
  • Net Profit Margin: 19.45% (Previous Year: 18.21%)

Balance Sheet Position (as at March 31, 2026)

  • Paid-up Equity Share Capital: ₹10.62 crore (1,06,20,275 equity shares of ₹10 each)
  • Net Worth: ₹90.67 crore (Previous Year: ₹68.73 crore)
  • Return on Net Worth: 24.25% (Previous Year: 24.37%)
  • Current Ratio: 3.15 times (Previous Year: 2.60 times)
  • Debt-Equity Ratio: 0.00 (Previous Year: 0.04)

Dividend and Reserves

  • No dividend recommended for FY 2025-26
  • Profit retained in retained earnings

Key Management Changes

Appointments during FY 2025-26:

  • Shri Kaluram Gurjar appointed as Chief Financial Officer (w.e.f December 26, 2025)
  • Shri Karan Parikh appointed as Company Secretary (w.e.f November 20, 2025)
  • Smt. Renukaben Patel appointed as Non-Executive Independent Director (w.e.f April 1, 2026)

Resignations during FY 2025-26:

  • Shri Rajendra R. Mehta resigned as Group President & CFO (w.e.f November 30, 2025)
  • Smt. Kalpana Kumari resigned as Company Secretary (w.e.f November 15, 2025)
  • Smt. Sangita Shingi ceased as Independent Director (w.e.f March 31, 2026)

Statutory Auditors:

M/s. Jain Chowdhary & Co. issued unqualified audit report for FY 2025-26

Cost Auditors:

M/s. Dalwadi & Associates conducted cost audit for FY 2025-26

Secretarial Auditors:

M/s. Malay Desai & Associates conducted secretarial audit for FY 2025-26 (resigned w.e.f July 27, 2026)

Shareholding Pattern (as on March 31, 2026)

  • Promoters & Promoter Group: 64.80%
  • Public: 26.93%
  • Bodies Corporate and LLPs: 5.78%
  • Non-Residents: 0.66%
  • IEPF: 1.54%
  • Dematerialized Shares: 99.58% of total paid-up capital

Corporate Governance Compliance

  • Company complied with Corporate Governance requirements under Companies Act, 2013 and SEBI (LODR) Regulations, 2015
  • Conducted 10 Board Meetings during FY 2025-26
  • All mandatory committees constituted and functional
  • Whistle Blower Policy and Vigil Mechanism in place

Other Significant Information

  • Plant Location: Uma Industrial Estate, Phase – III, Village Vasana (Iyava), Tal. Sanand - 382 110, Dist: Ahmedabad, Gujarat
  • RTA: MUFG Intime India Private Limited, Ahmedabad