Key Quantitative Figures

Standalone Financial Performance (FY 2025-26):

  • Total Income: ₹0.00
  • Total Expenses: ₹39.31 lakhs
  • Employee Expenses: ₹4.98 lakhs
  • Finance Costs: ₹26.69 lakhs
  • Other Expenses: ₹7.64 lakhs
  • Net Loss: ₹39.31 lakhs
  • Earnings Per Share: -₹0.98
  • Share Capital: ₹400.00 lakhs (40,00,000 equity shares of ₹10 each)

Subsidiary Performance (Palco Recycle Industries Limited):

  • Revenue from Operations: ₹29,318.14 lakhs
  • Other Income: ₹186.66 lakhs
  • Total Revenue: ₹29,504.80 lakhs
  • Total Expenses: ₹28,594.71 lakhs
  • Profit Before Tax: ₹910.09 lakhs
  • Tax Expense: ₹232.36 lakhs
  • Profit After Tax: ₹677.73 lakhs

Dates of Action

  • AGM Date: September 28, 2026, at 11:00 AM
  • Record Date for E-voting: September 21, 2026
  • E-voting Period: September 25, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)
  • Board Meetings Held: 10 meetings during FY 2025-26
  • Auditor's Report Date: May 27, 2026

Parties Involved

  • Regulators: BSE Limited, SEBI, National Company Law Tribunal (NCLT)
  • Statutory Auditors: KPSJ & Associates LLP
  • Secretarial Auditor: Mr. Punit Lath, Practicing Company Secretary
  • Internal Auditor: Mr. Mukesh Tiwari
  • Share Transfer Agent: MCS Share Transfer Agent Limited
  • Bankers: State Bank of India

Business to be Transacted at AGM

1. Adoption of audited financial statements (standalone and consolidated) for year ended March 31, 2026

2. Re-appointment of Mr. Naman Naredi (DIN: 06943536) who retires by rotation

Material Events During the Year

Amalgamation Scheme:

  • Initial attempt to amalgamate PRIL with Palco Metals under fast-track route (Section 233) failed due to not meeting 90% shareholding criteria
  • Board resolution passed on June 30, 2025 to apply to NCLT Ahmedabad under Sections 230-232
  • NCLT order dated June 16, 2026 (CA (CAA) No. 2 of 2026) directed convening of shareholder and creditor meetings
  • Meetings held on July 27, 2026 where scheme was approved by requisite majority
  • Scheme remains subject to final NCLT sanction and statutory formalities

Post Balance Sheet Events:

The NCLT order for amalgamation is procedural and does not affect going concern status.

Capital Structure Impact

  • No change in authorized or paid-up share capital during the year
  • Company holds 100% ownership in PRIL (80,70,000 equity shares)

Corporate Governance

  • Company exempt from certain corporate governance provisions due to size thresholds
  • Board comprises 4 directors including 1 woman independent director
  • All directors attended all 10 board meetings
  • Committees: Audit Committee (4 meetings), Nomination & Remuneration Committee (2 meetings), Stakeholders Relationship Committee (2 meetings)

Auditor Remarks

  • Statutory auditors issued unmodified opinion with emphasis on matter regarding zero standalone revenue
  • No fraud reported by any auditors
  • Internal financial controls found adequate and operating effectively

Other Compliance Information

  • No deposits accepted from public
  • No dividend recommended for the year
  • No CSR obligation applicable
  • No sexual harassment complaints received
  • Whistleblower mechanism in place

Shareholding Pattern

  • Promoter group holds significant stake including Krishna Capital & Securities Ltd (34%) and Krishna Sharebroking Services Pvt Ltd (8.45%)
  • Shares available for dematerialization with NSDL and CDSL (ISIN: INE239L01013)

Voting Arrangements

  • E-voting through NSDL platform
  • Mr. Punit Lath appointed as scrutinizer
  • Physical voting available at AGM for those not voting electronically

Financial Position (Standalone as at March 31, 2026)

  • Total Assets: ₹3,343.67 lakhs
  • Investments: ₹3,339.17 lakhs (mainly in subsidiary)
  • Current Assets: ₹4.50 lakhs
  • Equity: ₹727.02 lakhs
  • Loans: ₹83.89 lakhs (unsecured)
  • Other Current Liabilities: ₹2,290.65 lakhs

The disclosure contains the complete annual report with detailed financial statements, directors' report, management discussion & analysis, and other statutory information.