Financial Performance Highlights

Revenue and Profitability

  • Revenue from Operations: ₹10,003.85 lakh (FY26) vs ₹7,213.87 lakh (FY25) - 38.67% growth
  • Other Income: ₹213.86 lakh (FY26) vs ₹201.15 lakh (FY25)
  • Total Revenue: ₹10,217.71 lakh (FY26) vs ₹7,415.02 lakh (FY25)
  • Profit Before Interest and Depreciation: ₹740.61 lakh (FY26) vs ₹614.69 lakh (FY25)
  • Net Profit Before Tax: ₹498.61 lakh (FY26) vs ₹434.13 lakh (FY25)
  • Profit After Tax: ₹377.14 lakh (FY26) vs ₹330.83 lakh (FY25) - 14% growth
  • Earnings Per Share (Basic & Diluted): ₹1.67 (FY26) vs ₹1.47 (FY25)

Financial Position

  • Paid-up Share Capital: ₹2,253.35 lakh (unchanged from FY25)
  • Total Assets: ₹10,217.30 lakh (FY26) vs ₹9,456.51 lakh (FY25)
  • Current Assets: ₹3,879.15 lakh (FY26) vs ₹2,991.96 lakh (FY25)
  • Total Equity: ₹7,999.94 lakh (FY26) vs ₹7,622.80 lakh (FY25)
  • Current Liabilities: ₹1,864.77 lakh (FY26) vs ₹1,475.99 lakh (FY25)

Business Operations and Strategic Developments

Business Verticals Evolution

The company has evolved into three main verticals:

1. Consumer Lifestyle: D2C brands including Cot & Candy, Ostilos, and Zwankee across children's lifestyle, fashion, and personalized products

2. Business Solutions: B2B-focused brands Wishrows and PaceRoots with Hirone as digital/AI arm serving retailers, startups, and institutions

3. Hydration & Wellness: New vertical entered in FY26 focusing on beverage manufacturing, hydration infrastructure, and functional wellness products

Hydration and Wellness Business

The most significant addition in FY26, conceived as an operating platform across five layers:

  • Beverage manufacturing and multi-format bottling
  • Hydration infrastructure and managed water systems
  • Functional wellness products
  • Technology systems for dispensing and monitoring
  • Enablement for emerging beverage brands

The company amended its Memorandum of Association to provide for beverage manufacturing and related activities.

Production and Distribution Capabilities

  • Products Portfolio: Fashion, lifestyle, kids' essentials, home décor, fabrics, gifting, luggage, tech accessories, sports products, packaging, stationery
  • Sales Points: 1,500+ sales points, 100+ distributors, 20+ multi-brand outlet chains
  • Production: Asset-light, make-on-demand production with DTG, DTF, UV and digital printing technologies
  • Channels: 4 owned websites, on-demand platform, general trade, multi-brand outlets

Corporate Actions and Changes

Registered Office Shift

The company shifted its registered office from Maharashtra to Gujarat with approval from the Regional Director, Navi Mumbai (Order ID: Sec 13(4)/ROC Pune/AC2651150/RD Navi Mumbai/2026, approved April 28, 2026). New address: 423, Block-C, 1/1, Sumel-11, Indian Textile Plaza, Shahibaug, Ahmedabad-380004, effective May 5, 2026.

Board Composition Changes

  • Mr. Harshal Chandrakant Gala (DIN: 09539871) expressed intention not to seek re-appointment
  • Mr. Mohit Paragbhai Bhavnagari (DIN: 10568605) appointed as Additional Director (Non-Executive) effective July 30, 2026
  • Mr. Aditya Gaurangbhai Patel (DIN: 11878623) appointed as Additional Director (Non-Executive) effective August 22, 2026

Memorandum of Association Amendment

The Board approved proposal to insert sub-clause 11 after sub-clause 10 of Clause 3(A) of the MoA to include dairy products business, requiring special resolution approval at AGM.

Borrowing Limits

Approval sought for revised borrowing limit of ₹200 crore over and above the aggregate of paid-up share capital, free reserves and securities premium account, superseding previous resolution from August 19, 2022.

IPO Proceeds Utilization

The company completed IPO raising ₹41.198 crore through issue of 64,59,600 equity shares at ₹103 per share. Utilization as of March 31, 2026:

  • Acquisition of Plant & Machinery: ₹547.54 lakh utilized vs ₹973.60 lakh projected (₹426.66 lakh balance)
  • Long-Term Working Capital: ₹2,086.00 lakh fully utilized
  • General Corporate Purposes: ₹1,000.20 lakh fully utilized
  • Issue Related Expenses: ₹45.55 lakh utilized vs ₹60.00 lakh projected (₹14.45 lakh balance)

The auditor noted that money raised by public offer were prima facie applied for intended purposes, except temporary deployment pending allocation.

AGM Agenda Items

Ordinary Business

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

2. Note retirement of Mr. Harshal Chandrakant Gala who expressed intention not to seek re-appointment

Special Business

3. Regularization of Mr. Mohit Paragbhai Bhavnagari as Director (Non-Executive)

4. Regularization of Mr. Aditya Gaurangbhai Patel as Director (Non-Executive)

5. Alteration in Main Object Clause of Memorandum of Association for dairy business

6. Approval for overall borrowing limits of ₹200 crore under Section 180(1)(c) of Companies Act, 2013

Regulatory Compliance and Auditors

Statutory Auditor

M/s. Bharat Parikh & Associates (FRN: 101241W) continued as statutory auditor. Qualifications in audit report:

1. Temporary deployment of IPO proceeds pending allocation not complying with SEBI ICDR Regulations

2. Non-compliance with accounting standards on employees' retirement benefits

Secretarial Auditor

Mr. Dipesh Anupkumar Mistry issued secretarial audit report with qualifications:

1. Temporary deployment of IPO funds not complying with SEBI ICDR Regulations

2. Non-disclosure of pledge of promoter shares under SEBI (PIT) Regulations

Internal Auditor

M/s Ashish N. Parikh & Co. appointed as internal auditors for FY 2025-26.

Related Party Transactions

Transactions with related parties in ordinary course of business:

  • Fairplay Hub: Purchase and sale of goods
  • Skittleball Ventures: Purchase and sale of goods
  • Wigglewink Ventures Private Limited: Purchase and sale of goods

All transactions conducted at arm's length basis.

Employee and Human Resources

  • Total employees: 37 as of March 31, 2026 (vs 35 in FY25)
  • No complaints received under POSH policy during the year
  • Company complied with Maternity Benefit Act, 1961 provisions

Forward-looking Statements

The annual report contains forward-looking statements subject to risks and uncertainties including business environment changes, market dynamics, regulatory shifts, and assumption inaccuracies. The company undertakes no obligation to update these statements.