Financial Performance Overview
Niraj Cement Structurals Limited reported strong financial results for FY 2025-26, with consolidated revenue growth of 6.88% to ₹54,203.23 lakhs and profit after tax increasing by 39.58% to ₹2,116.88 lakhs. Standalone performance showed similar strength with revenue growth of 6.65% to ₹54,043.92 lakhs and PAT increase of 41.22% to ₹2,161.99 lakhs. Basic and diluted EPS stood at ₹3.55 for the year.
Annual General Meeting Details
The company issued notice for its 28th Annual General Meeting to be held on September 28, 2026 via video conferencing. Shareholders will vote on six resolutions including adoption of financial statements, reappointment of director Mr. Sudhakar Balu Tandale, ratification of cost auditor remuneration, approval for investments/loans/guarantees up to ₹750 crores, and material related party transactions with two joint ventures (NCSL-RYC JV and Yojaka-Niraj JV) totaling ₹400 crores annually.
Capital Structure and Corporate Actions
The company increased its authorized share capital and completed a preferential issue of 1,95,39,040 equity shares at a premium of ₹43 per share, including conversion of previously allotted share warrants. The issued, subscribed and paid-up capital increased to ₹5,969.43 lakhs. No dividend was recommended for FY25-26 to conserve resources for business requirements.
Contingent Liabilities and Legal Matters
Significant contingent liabilities include ₹1,699.43 lakh in disputed income tax demands for assessment years 2009-10 to 2012-13, pending with CIT (A) Mumbai. The company faces an ongoing GST investigation by DGGI with search operations conducted in January 2021, currently sub-judice in Gujarat High Court with ₹108.40 lakhs deposited under protest.
Operational and Governance Highlights
The company maintains two subsidiaries (Niraj Consulting Group Limited and Niraj Build India Limited, both 74.5% owned) and engages extensively with joint ventures. Board composition includes 6 directors with 4 independent members. CSR expenditure of ₹27.55 lakhs exceeded the mandatory requirement, focused on education, healthcare, and community welfare. Key ratios showed improvement with Return on Equity increasing to 8.10% from 6.20% in the previous year.
Auditor Emphasis and Disclosures
Auditors highlighted several matters including booking of joint venture turnover, GST proceedings, balance reconciliations, ECL provision of ₹2,769.36 lakh with partial recovery, income tax assets of ₹2,068.82 lakhs, and non-activation of audit trail facility in accounting software throughout the year.