Annual General Meeting Details

  • Meeting Date: Friday, 18th September 2026
  • Time: 1:00 PM IST
  • Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
  • Deemed Venue: Registered Office of the Company
  • Cut-off date for voting rights: 11th September 2026
  • Remote e-voting period: 15th September 2026 (10:00 AM) to 17th September 2026 (5:00 PM)

Business to be Transacted

Ordinary Business:

1. Adoption of audited financial statements for FY ended 31st March 2026 with reports of Board of Directors and Auditors

2. Re-appointment of Mrs. Sushiladevi Balwantrai Mittal (DIN: 02283607) who retires by rotation

Special Business:

3. Ratification of remuneration of ₹30,000 per annum plus applicable taxes to M/s. Devang Patel & Associates, Cost Accountants for FY 2026-27 cost audit

4. Revision of remuneration payable to Mr. Ajaykumar Balwantrai Mittal (Managing Director) to ₹1,44,00,000 per annum with effect from 1st June 2026

5. Revision of remuneration payable to Mr. Atul Balwantrai Mittal (Whole-Time Director) to ₹90,00,000 per annum with effect from 1st June 2026

Key Financial Performance (FY 2025-26)

  • Total Revenue: ₹14,939.56 lakh (Previous year: ₹13,707.03 lakh)
  • Revenue from Operations: ₹14,858.04 lakh (Previous year: ₹13,686.29 lakh)
  • Operating Profit (before interest & depreciation): ₹831.77 lakh (Previous year: ₹761.53 lakh)
  • Profit Before Tax: ₹510.91 lakh (Previous year: ₹491.49 lakh)
  • Net Profit After Tax: ₹345.50 lakh (Previous year: ₹343.78 lakh)
  • Earnings Per Share (Basic & Diluted): ₹3.61 (Previous year: ₹4.37)

Capital Structure Changes

  • IPO Details: Issued 37,00,000 equity shares at ₹143 per share (face value ₹10) raising ₹52.91 crore in October 2025
  • Current Paid-up Capital: ₹11,56,75,000 divided into 1,15,67,500 equity shares of ₹10 each
  • Listing: Equity shares listed on BSE SME Platform from 14th October 2025
  • IPO Proceeds Utilization: Unutilized amount as on 30th June 2026 is ₹0.61 crore with no deviation from objects stated in prospectus

Director and KMP Changes

  • Mr. Ajaykumar Balwantrai Mittal re-appointed as Managing Director for 3 years from 1st February 2026 to 31st January 2029
  • Mr. Hirenkumar B. Patel resigned as Company Secretary & Compliance Officer w.e.f. 31st December 2025
  • Ms. Gunjan Rameena appointed as Company Secretary & Compliance Officer w.e.f. 1st January 2026
  • Mrs. Sushiladevi Mittal (DIN: 02283607) retires by rotation and seeks re-appointment

Board and Committee Meetings

  • Board Meetings: 17 meetings held during FY 2025-26 with 100% attendance by all directors
  • Audit Committee: 6 meetings held with full attendance
  • Nomination & Remuneration Committee: 2 meetings held with full attendance
  • Stakeholders Relationship Committee: 1 meeting held

Auditor Appointments

  • Statutory Auditors: M/s. Milind Nyati & Co., Chartered Accountants (appointed for 5 years until FY 2028-29)
  • Secretarial Auditor: M/s. V. N. Vasani & Associates, Practising Company Secretaries
  • Internal Auditor: M/s. Nirav D. Shah & Co., Chartered Accountants
  • Cost Auditor: M/s. Devang Patel & Associates, Cost Accountants (remuneration ₹30,000 p.a. subject to ratification)

Dividend and Reserves

  • No dividend recommended for FY 2025-26 to conserve resources
  • No amount transferred to Investor Education and Protection Fund
  • No amount transferred to general reserve

Related Party Transactions

Transactions with related parties during the year include:

  • Advances to Mittal Steel: ₹104.85 lakh
  • Advances to BR Global: ₹20.00 lakh
  • Advances to Armaanya Textiles Private Limited: ₹543.56 lakh
  • Remuneration to Abhy Mittal (director's relative): ₹3.60 lakh

All transactions were in ordinary course of business and at arm's length

Corporate Details

  • Bankers: HDFC Bank Limited, Bajaj Finance Limited, Axis Bank Limited
  • Registrar & Share Transfer Agent: Bigshare Services Private Limited
  • Factory Addresses: Three manufacturing units at Changodar Industrial Estate and Chiyada, Ahmedabad
  • Email for investor queries: info@mittalsections.com

Operational Highlights

  • Manufacturing Capacity: 6,00,000+ metric tonnes
  • Projects Completed: 60+
  • Client Base: 1,400+
  • Employee Strength: 40 permanent employees as on 31st March 2026

Compliance and Regulatory Aspects

  • Company has complied with all applicable provisions of Companies Act 2013 and SEBI LODR Regulations
  • No material orders passed by regulators/courts impacting going concern status
  • No instances of fraud reported by auditors
  • No CSR obligation as criteria not met
  • Adequate internal financial controls in place

Voting Instructions

Detailed instructions provided for remote e-voting through NSDL platform and participation in AGM through VC/OAVM facility. Scrutinizer appointed: Mr. Umesh Parikh, Practicing Company Secretary (Membership No. FCS 4152).