Financial Performance

Key Financial Figures (FY26 vs FY25):

  • Turnover: ₹135.82 lakhs (FY25: ₹215.87 lakhs)
  • Loss before depreciation and tax: ₹(329.97) lakhs (FY25: ₹(222.76) lakhs)
  • Loss after tax: ₹(336.20) lakhs (FY25: ₹(229.00) lakhs)
  • Earnings per share: (₹58.82) (FY25: (₹40.06))
  • Balance carried to balance sheet: ₹(229.41) lakhs (FY25: ₹105.63 lakhs)

The increased loss is primarily attributed to the reduction in share market price of Foods and Inns Limited, in which the company has investments.

Dividend Declaration

No dividend declared for FY26 due to the loss incurred from the decline in investment value of Foods and Inns Limited.

Capital Structure

  • Authorized Share Capital: 2,50,00,000 equity shares of ₹10 each
  • Issued, Subscribed and Paid-up: 5,71,577 equity shares of ₹10 each fully paid up
  • Promoter holding: 74.78% (Milan Dalal: 4,27,406 shares)

Board and Governance

Board Composition:

  • Mr. Milan Dalal (Chairman, Non-Executive Non-Independent)
  • Mrs. Veena Dalal (Whole Time Director)
  • Mr. Keshav Jetsey (Independent Director)
  • Mr. Radheshyam Swami (Independent Director)
  • Mr. Devanshu Desai (Independent Director, appointed August 5, 2025)

Board Meetings: Four meetings held during FY26 on May 14, 2025; August 5, 2025; November 10, 2025; and February 10, 2026.

Key Managerial Personnel:

  • Mr. Hiren Desai (Company Secretary & Compliance Officer)
  • Mrs. Claret Rebello (Chief Financial Officer)

Annual General Meeting

The 67th Annual General Meeting will be held on July 16, 2026, through video conferencing/other audio-visual means to transact:

1. Adoption of financial statements

2. Re-appointment of Mr. Milan Dalal (DIN: 00062453) as director liable to retire by rotation

Book Closure: July 9, 2026 to July 16, 2026 (both days inclusive)

Auditors and Compliance

Statutory Auditors: M/s. M.D. Pandya & Associates, Chartered Accountants

  • Audit report contains no qualifications, reservations, or adverse remarks

Secretarial Auditor: M/s. Ashok Patel and Associates, Practicing Company Secretary

  • Secretarial Audit Report contains no qualifications

Internal Financial Controls: Adequate and operating effectively as confirmed by auditors

Related Party Transactions

Material contracts at arm's length basis:

1. Business Support Services with Foods and Inns Limited: ₹2.50 crores for 3 years (approved May 21, 2024)

2. Leave and License Agreement with Foods and Inns Limited: ₹2.00 lakhs for 36 months (approved January 31, 2024)

Corporate Governance

The company has complied with mandatory corporate governance requirements under SEBI LODR Regulations. Various policies implemented including:

  • Code of Conduct
  • Whistle Blower Policy
  • Related Party Transactions Policy
  • Risk Management Policy
  • Insider Trading Policy

Operational Highlights

  • The company does not carry manufacturing or sales activities
  • Primary income sources: investment income (money market instruments), lease income, business support services
  • Only 2 employees on roll as of March 31, 2026
  • No material changes or commitments affecting financial position post year-end

Legal and Regulatory Matters

  • No significant material orders passed by regulators against the company
  • No proceedings pending under Insolvency and Bankruptcy Code, 2016
  • Contingent liability of ₹79.71 lakhs for claims against company not acknowledged as debts

Shareholding Pattern (as of March 31, 2026)

  • Promoter and Promoter Group: 74.78%
  • Public Shareholding: 25.23%
  • Total shares: 5,71,577

Stock Price Data (BSE)

Monthly high-low range from April 2025 to March 2026:

  • High: ₹691.00 (May 2025)
  • Low: ₹324.70 (March 2026)