AGM Details

The 35th Annual General Meeting will be held on Thursday, September 24, 2026 at 9:00 a.m. at the registered office of the Company situated at Pipenagar (Sukeli), Via-Nagothane, Tal-Roha, Maharashtra-402126.

Agenda Items

Ordinary Business:

1. To receive, consider and adopt the audited standalone balance sheet as at 31st March 2026, statement of profit and loss account and cash flow statement for the year ended on that date together with reports of Directors and Auditors.

2. To re-appoint Mrs. Mala Sharma (DIN: 02964382) who is retiring by rotation as a Director of the Company.

Special Business:

3. To approve the appointment of Mr. Elangovan Ramnathan (DIN: 11367574) as Non-Executive Independent Director for a period of five consecutive years.

Financial Performance Highlights

FY 2025-2026 vs FY 2024-2025 (in ₹ lakhs):

  • Expenditure: 200.54 (vs 170.04)
  • Profit/(Loss) before Tax: (9.45) (vs 19.37)
  • Taxes paid and provided: (2.11) (vs (6.11))
  • Profit/(Loss) after Tax: (7.34) (vs 25.48)
  • No amount transferred to reserves
  • No dividend declared
  • Balance carried to Balance Sheet: (582.36) (vs (575.02))

Key Financial Changes

The Company incurred a loss of ₹7.34 lakhs during FY 2025-26 compared to a profit of ₹25.48 lakhs in the previous year, primarily due to significant increase in employee benefit expenses which rose from ₹78.94 lakhs to ₹124.85 lakhs, mainly due to recognition of gratuity provision of ₹49.08 lakhs during the year.

Revenue from operations remained largely stable, increasing marginally from ₹186.32 lakhs to ₹188.82 lakhs. Depreciation expense reduced significantly from ₹35.97 lakhs to ₹19.71 lakhs.

Operational Context

The company has leased its entire plant to Jindal Saw Ltd since 2017 and receives regular lease rental income. The company is also a diversified technology solutions provider offering software development services for business process automation.

Director Changes

Mr. Elangovan Ramnathan (DIN: 11367574) was appointed as additional director (Non-Executive Independent director) with effect from 13th November 2025. Mr. Sushil Ashok Jain (DIN: 00929268) resigned as director with effect from 13th November 2025.

Auditors

M/s Agrawal Jain & Gupta, Chartered Accountants continue as Statutory Auditors until the conclusion of AGM in 2027. M/s Neelakshee R. Marathe & Co., Practicing Company Secretaries continue as Secretarial Auditors for the period from April 1, 2025 to March 31, 2030.

Capital Structure

The company's equity share capital remains unchanged at ₹528.14 lakhs (52,81,400 shares of ₹10 each).

Compliance Matters

The Secretarial Audit Report for FY 2025-2026 contains qualifications regarding:

  • Non-transfer of ₹9,965 pertaining to FY 2007-2008 to Investor Education and Protection Fund
  • Not maintaining 100% of promoter shareholding in dematerialized form
  • Website still under development with incomplete disclosures

E-voting Details

Remote e-voting facility will be available from Monday, 21st September, 2026 at 09:00 A.M to Wednesday, 23rd September, 2026 till 05:00 P.M through CDSL. The cut-off date for determining eligibility to vote is Thursday, 17th September, 2026.

Related Party Transactions

All related party transactions were at arm's length basis in the ordinary course of business. Key transactions include remuneration to directors and loans from directors.

Employee Benefits

The company has three employees as at year-end. Gratuity liability of ₹51.49 lakhs has been calculated on discontinuation basis instead of actuarial valuation as amounts are not material.

Foreign Exchange

Total foreign exchange inflow: ₹0 lakhs

Total foreign exchange outflow: ₹0 lakhs