Financial Performance

Revenue from Operations: ₹56.49 crore for FY 2025-26 (compared to ₹50.73 crore in FY 2024-25)

Total Revenue: ₹56.61 crore (including other income of ₹12.82 lakh)

Total Expenses: ₹54.94 crore

Profit Before Tax: ₹1.67 crore (down from ₹2.11 crore in FY25)

Tax Expense: ₹47.70 lakh

Net Profit: ₹1.19 crore (down from ₹1.93 crore in FY25)

Earnings Per Share (EPS): ₹0.13 (basic and diluted)

Key Financial Position (as of 31st March, 2026)

Share Capital: ₹18.75 crore (authorized ₹20.00 crore)

Reserves and Surplus: ₹10.13 crore

Total Assets: ₹68.20 crore

Inventories: ₹34.11 crore (mainly construction work-in-progress)

Trade Receivables: ₹26.96 crore

Borrowings:

  • Non-current: ₹1.47 crore
  • Current: ₹18.04 crore

AGM Details

32nd Annual General Meeting: Saturday, 29th August, 2026 at 11:45 a.m. through Video Conferencing/Other Audio Visual Means

Record Date: Saturday, 22nd August, 2026

Business to be Transacted:

1. Adoption of audited financial statements for FY 2025-26

2. Re-appointment of Mr. Nimesh D. Patel (DIN: 00185400) who retires by rotation

3. Special Business: Redesignation of Mr. Chetan A. Patel (DIN: 00185194) from Whole Time Director to Non-Executive Non-Independent Director effective 1st September, 2026

4. Special Business: Appointment of Mr. Paritosh Jitendra Patel (DIN: 00039575) as Independent Director for 5 years from 30th May, 2026 to 29th May, 2031

Board and Management Changes

Cessation: Mr. Shrikant N Jhaveri (Independent Director) ceased to be director w.e.f. 15th March, 2026 due to sudden demise

New Appointment: Mr. Paritosh J. Patel appointed as Additional Director (Independent) w.e.f. 30th May, 2026

Key Managerial Personnel:

  • Mr. Nimesh D. Patel: Chairman & Managing Director (remuneration ₹18.00 lakh)
  • Mr. Chetan A. Patel: Whole Time Director (remuneration ₹7.20 lakh)
  • Mr. Pratik Acharya: Chief Financial Officer (remuneration ₹5.28 lakh)
  • Mr. Alfez Solanki: Company Secretary & Compliance Officer (remuneration ₹5.52 lakh)

Dividend

No dividend recommended for FY 2025-26 to conserve financial resources.

Business Operations

The company is engaged in infrastructure and construction projects, mainly affordable EWS housing and urban infrastructure projects. It is registered as approved contractor in "AA" Class in R&B Division for Gujarat State and Ahmedabad Municipal Corporation.

Auditor Reports

Statutory Auditors: M/s. Meet Shah & Associates, Chartered Accountants issued unmodified audit report

Secretarial Auditors: M/s. Patel Aadeshra and Partners LLP issued unmodified secretarial audit report

Compliance: Company received clean reports from both auditors with no qualifications, reservations, or adverse remarks

Corporate Governance

Complied with requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All Independent Directors submitted declarations of independence. Board comprises 6 members with appropriate mix of executive and non-executive directors.

Related Party Transactions

Transactions with related parties were in ordinary course of business and at arm's length basis. Details provided in Note 30 of financial statements.

Other Key Disclosures

  • No material changes affecting financial position after year-end
  • No subsidiaries, joint ventures or associate companies
  • No deposits accepted from public
  • No fraud reported by auditors
  • Whistle Blower Policy/Vigil Mechanism in place
  • Internal financial controls adequate and operating effectively

Voting Arrangements

Remote e-voting period: 26th August, 2026 (9:00 AM) to 28th August, 2026 (5:00 PM) through NSDL. Physical attendance dispensed with as per MCA circulars.