Financial Performance (Standalone)

For the financial year ended March 31, 2026:

  • Gross sales/operations: ₹2,138.55 lakhs (Previous year: ₹2,605.83 lakhs)
  • Total expenditure: ₹2,257.85 lakhs (Previous year: ₹3,063.85 lakhs)
  • Loss before tax: ₹119.30 lakhs (Previous year: loss of ₹458.02 lakhs)
  • Net loss after tax: ₹119.61 lakhs (Previous year: loss of ₹458.68 lakhs)
  • No dividend recommended due to losses

Financial Performance (Consolidated)

For the financial year ended March 31, 2026:

  • Gross sales/operations: ₹5,484.68 lakhs (Previous year: ₹4,729.56 lakhs)
  • Total expenditure: ₹5,408.40 lakhs (Previous year: ₹5,183.88 lakhs)
  • Profit before tax: ₹76.28 lakhs (Previous year: loss of ₹454.32 lakhs)
  • Net profit after tax: ₹91.38 lakhs (Previous year: loss of ₹448.04 lakhs)

Share Capital

No changes in share capital during the financial year. Authorized share capital: ₹1,000.00 lakhs (1,000,000 equity shares of ₹10 each). Issued and subscribed capital: ₹105.00 lakhs (1,050,000 equity shares of ₹10 each).

Subsidiaries Performance

The company has three subsidiaries:

1. Techstar India Limited (CIN: U74120MH2015PLC271204)

  • Revenue from operations: ₹2,631.11 lakhs
  • Net profit: ₹4.15 lakhs

2. La Rambla Lifestyle Private Limited (CIN: U74999MH2018PTC306549)

  • Revenue from operations: ₹248.80 lakhs
  • Net profit: ₹0.83 lakhs

3. Argento Enterprises Private Limited (CIN: U46901MH2025PTC441413)

  • Total income: ₹464.91 lakhs
  • Net profit: ₹161.63 lakhs

Annual General Meeting

The 66th Annual General Meeting will be held on Wednesday, September 30, 2026, at 11:30 AM at the registered office: 604, Floor-6th, Arihant Heights, V V Chandan Street, Near Masjid Stationgaribdasst, Mandvi, Mumbai, 400003.

Agenda Items

Ordinary Business:

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

2. Re-appointment of Mr. Ganeshkumar Datta Yangandul (DIN: 07194818) who retires by rotation

3. Ratification of appointment of M/s. Jain Vinay & Associates, Chartered Accountants as Statutory Auditors for FY 2026-27 and fixing their remuneration

Special Business:

4. Regularization of appointment of Mr. Ganeshkumar Datta Yangandul (DIN: 07194818) who was appointed as Additional Director on February 14, 2026

Board of Directors

As on March 31, 2026:

  • Mr. Parimal Mehta - Managing Director (DIN: 03514645)
  • Mr. Ganeshkumar Datta Yangandul - Non-Executive & Independent Director (appointed February 14, 2026)
  • Ms. Lavnya Patil - Non-Executive & Independent Director
  • Mr. Masvi Yusufbhai Qutbuddin - Non-Executive & Independent Director

Changes during the year:

  • Ms. Riddhi Parimal Mehta ceased as director on November 14, 2025
  • Mr. Ganeshkumar Datta Yangandul appointed as director on February 14, 2026

Board Meetings

Six board meetings were held during FY 2025-26 on: May 15, 2025; May 30, 2025; August 14, 2025; September 7, 2025; November 14, 2025; and February 14, 2026.

Auditors

Statutory Auditors: Jain Vinay & Associates, Chartered Accountants (Firm Registration No.: 006649W) were appointed for FY 2025-26 and recommended for reappointment for FY 2026-27.

Secretarial Auditor: M/s. SARK & Associates LLP, Company Secretaries conducted the secretarial audit for FY 2025-26.

Registrars & Share Transfer Agents

Satellite Corporate Services Private Limited, Unit No. 49, Bldg. No. 13-A-B, 2nd Floor, Samhita Commercial Co-Op. Soc. Ltd. Off. Andheri-Kurla Lane, MTNL Lane Sakinaka, Mumbai - 400072

Bankers

Union Bank of India

Key Managerial Personnel

  • Mr. Parimal Mehta - Managing Director (remuneration: ₹30 lakhs)
  • Ms. Monika Sharma - Company Secretary (remuneration: ₹3.36 lakhs)
  • Mr. Yatish Lohia - Chief Financial Officer (remuneration: ₹6.60 lakhs)

Corporate Governance

The company has complied with corporate governance requirements as per SEBI (LODR) Regulations, 2015. The report on corporate governance includes details of board committees, director appointments, and compliance certificates.

Internal Financial Controls

The company has adequate internal financial controls systems commensurate with its size and operations, which were operating effectively as of March 31, 2026.

Material Orders

No significant material orders were passed by regulators, courts, or tribunals that would impact the going concern status of the company.

Related Party Transactions

All related party transactions were at arm's length and in the ordinary course of business. Details are provided in Form AOC-2 annexed to the directors' report.

Deposit Status

The company has not accepted any deposits from the public under Sections 73 and 74 of the Companies Act, 2013.

Shareholding Pattern

As on March 31, 2026:

  • Promoters: 0%
  • Public: 100%
  • Top shareholders include Parimal Mehta (19.10%), Sujata Electronics Ltd (9.52%), Infotech Era (India) Ltd (9.52%), and New Era Fabrics Ltd (9.52%)

Debt Position

  • Non-current borrowings: ₹112.11 lakhs (Previous year: ₹0.18 lakhs)
  • Current borrowings: ₹0.12 lakhs (Previous year: ₹0.12 lakhs)

Audit Qualifications

The statutory auditors emphasized certain matters in their report:

  • Revenue includes GST value which was nullified through GST expenses
  • Seven bank statements from Union Bank of India were not available for verification
  • No residual value reflected in PPE schedule of fixed assets
  • Creditors, debtors, loans and advances are subject to confirmations
  • Turnover includes branch transfers

Voting Arrangements

Members can vote electronically through CDSL's e-voting platform. The register of members will be closed from September 23, 2026, to September 30, 2026 (both days inclusive).