Financial Performance Highlights (Amount in ₹ lakhs)

  • Revenue from Operations: ₹23,161.36 (FY25: ₹21,290.69) - 8.8% increase
  • Other Income: ₹234.97 (FY25: ₹65.98)
  • Total Revenue: ₹23,396.33 (FY25: ₹21,356.67)
  • Total Expenses: ₹22,702.14 (FY25: ₹20,502.51)
  • Profit Before Tax: ₹694.19 (FY25: ₹854.16) - 18.7% decrease
  • Tax Expense: ₹191.88 (FY25: ₹249.25)
  • Net Profit After Tax: ₹502.31 (FY25: ₹604.91) - 17.0% decrease
  • Exports: ₹460.78 lakhs
  • Foreign Exchange Outgo: ₹3.34 lakhs

Key Operational Metrics

  • Current Ratio: 1.69 (FY25: 1.82)
  • Debt-Equity Ratio: 0.85 (FY25: 0.91)
  • Return on Equity: 6% (FY25: 8%)
  • Inventory Turnover Ratio: 2.79 (FY25: 2.81)
  • Trade Receivables Turnover Ratio: 6.70 (FY25: 8.20)

AGM Details

  • Date: September 28, 2026 at 3:30 PM
  • Mode: Video Conferencing/Other Audio-Visual Means
  • Ordinary Business:
  • Adoption of audited financial statements for FY 2025-26
  • Reappointment of Ms. Nivedita Garg (DIN: 03359751) as Whole-Time Director
  • Special Business:
  • Ratification of remuneration of Cost Auditor M/s Vivek Agarwal & Co. at ₹75,000 plus applicable taxes for FY 2026-27

Capital Structure

  • Authorized Share Capital: ₹20,00,00,000 (2 crore equity shares of ₹10 each)
  • Paid-up Share Capital: ₹14,21,20,000 (1,42,12,000 equity shares of ₹10 each) - unchanged during FY
  • Promoter Holding:
  • Ms. Nivedita Garg: 60,56,800 shares (42.62%)
  • Mr. Nishant Garg: 41,71,000 shares (29.35%)

Material Events During FY 2025-26

The Board approved a preferential issue of up to 25,00,000 equity shares at its meeting on October 24, 2025, which was subsequently approved by shareholders at an EGM on November 18, 2025. BSE granted in-principle approval on December 30, 2025. However, the company did not receive requisite funds from the proposed investor within the stipulated period and consequently did not proceed with the allotment.

Corporate Governance

  • Board Composition: 5 Directors (3 Independent, 2 Executive)
  • Board Meetings: 7 meetings held during FY 2025-26
  • Key Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, CSR Committee
  • Auditors:
  • Statutory: M/s H G & Co.
  • Secretarial: M/s Mohit Singhal & Associates
  • Cost: M/s Vivek Agarwal & Co.
  • Internal: M/s M Lal & Co.

CSR Activities

  • Required CSR Spend: ₹23,70,620
  • Actual CSR Spend: ₹2,07,000 (on healthcare, religious, and education activities)
  • Unspent Amount: Carried forward to next year as company was unable to identify appropriate places to spend

Legal and Regulatory Matters

  • Income Tax Demand: ₹4.40 lakhs for AY 2021-22 (remanded back to Adjudicating Officer)
  • GST Demand: ₹1,712.07 lakhs for 2017-2021 (pending before Hon'ble Allahabad High Court)
  • Bank Claim: ₹58.96 lakhs recoverable from IndusInd Bank (case filed in consumer forum)

Other Key Information

  • Employee Strength: 98 permanent employees
  • Segment Reporting: Single segment of manufacturing bright steel bars and wires
  • Listing: BSE SME Platform (Scrip Code: 543874)
  • Banks: Axis Bank Limited, Bank of Baroda Limited
  • RTA: Maa Shitla Securities Private Limited

Forward-looking Statements

The Management Discussion & Analysis section indicates the company has invested in building capabilities with focus on the defence sector (B2G segment) and sees significant growth opportunities ahead. The company believes it stands at an important inflection point for accelerated growth.