Key Financial Figures (₹ in Lakhs)

  • Revenue from Operations: 7387.12 (Previous Year: 0.00)
  • Other Income: 0.00 (Previous Year: 276.32)
  • Total Income: 7387.12 (Previous Year: 276.32)
  • Expenditure: 7038.45 (Previous Year: 156.37)
  • Net Profit before Tax: 348.67 (Previous Year: 119.95)
  • Current Tax: 103.84 (Previous Year: 0.00)
  • Income Tax for Earlier Years: 22.23 (Previous Year: 0.00)
  • Net Profit after Tax: 222.60 (Previous Year: 119.95)

Capital Structure

  • Authorized Share Capital: ₹80,00,00,000 (8,00,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital as of March 31, 2026: ₹67,73,30,730 (6,77,33,073 equity shares of ₹10 each)
  • Subsequent to March 31, 2026: Issued, subscribed and paid-up capital stands at ₹79,44,80,730 (7,94,48,073 equity shares) after conversion of warrants

Preferential Allotment

During the year, the Company allotted 7,25,00,000 fully convertible equity warrants on preferential basis pursuant to approval dated October 29, 2025. Aggregate issue size was ₹97,87,50,000, with each warrant convertible into one equity share of face value ₹10 at issue price of ₹13.50 per warrant.

Business Changes

During the year under review, the Company changed its nature of business:

  • Pursuant to approval dated September 21, 2025, amended Memorandum of Association to include agricultural business as principal activity
  • Subsequently, pursuant to approval dated October 29, 2025, further amended main objects to include dealing in jewellery, bullion, and precious stones
  • Company primarily conducted business operations in agricultural sector during the year

AGM Details

34th Annual General Meeting to be held on Tuesday, September 29, 2026 at 2:00 P.M. at registered office: A-108, 1st Floor, Chikuwadi, Western Express Highway, Andheri East, International Airport, Mumbai, Maharashtra, India, 400099.

Ordinary Business Items

1. Adoption of audited financial statements for FY ended March 31, 2026

2. Re-appointment of Mr. Keyur Kirtikumar Saxsena (DIN: 10777134) who retires by rotation

3. Appointment of M/s S K Bhavsar & Co. (FRN: 0145880W) as Statutory Auditors for 5 years (FY 2026-27 to 2030-31)

Special Business Items

4. Regularization and appointment of Ms. Geetika Garg (DIN: 10643307) as Independent Director for 5 years from May 06, 2026

5. Regularization and appointment of Mr. Ramesh Sharma (DIN: 10728184) as Independent Director for 5 years from May 06, 2026

6. Appointment of M/s Shekhawat & Associates as Secretarial Auditor for 5 years (FY 2026-27 to 2030-31)

7. Shifting of registered office from Maharashtra to Gujarat and consequent alteration in Memorandum of Association

Board Composition

As of March 31, 2026:

  • Managing Director: Mr. Dhaval Dharmendrabhai Joshi (DIN: 10778731)
  • Non-executive Director: Mr. Keyur Saxsena
  • Independent Directors: Ms. Geetika Garg (appointed May 06, 2026), Mr. Ramesh Sharma (appointed May 06, 2026)

Changes during FY 2025-26:

  • Mr. Jaykumar Bhaveshkumar Patel (Non-Executive Independent Director) ceased w.e.f. May 06, 2026
  • Ms. Sonal Vaghela (Non-Executive Independent Director) ceased w.e.f. May 06, 2026

Dividend

No dividend recommended for the year ended March 31, 2026.

Registered Office Shift

The Company proposes to shift its registered office from State of Maharashtra to State of Gujarat for administrative convenience and operational efficiency. This requires Special Resolution approval and confirmation by Regional Director.

Auditor Qualifications

Secretarial Audit Report highlighted several non-compliances including:

  • Non-compliance with Trading Window closure requirements
  • Delay in submission of various regulatory filings
  • Delay in appointment of qualified Company Secretary as Compliance Officer

Statutory Auditors emphasized matters including:

  • Lack of balance confirmations and party-wise reconciliations for trade receivables/payables
  • Absence of internal auditor appointment
  • Non-bifurcation of MSME creditors
  • Unconfirmed advances to suppliers
  • Unverified loans without supporting documentation

Record Date

September 22, 2026 for determining eligibility to attend and vote at AGM.

E-Voting Details

Remote e-voting period: September 26, 2026 (9:00 am) to September 28, 2026 (5:00 pm) through NSDL.

Corporate Governance

Company has established mandatory committees:

  • Audit Committee
  • Nomination and Remuneration Committee
  • Stakeholders Relationship Committee

Capital Raising

The Company raised significant capital through preferential warrant allotment, increasing the paid-up capital substantially from the previous year.

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