Key Dates and Event Details

  • 35th AGM Date: Wednesday, September 30, 2026, at 1:00 PM IST.
  • AGM Venue: O-22, Parmanand Hall, Ashok Watika Samiti, Ashok Marg, C-Scheme, Jaipur-302001, Rajasthan.
  • Cut-off Date for E-voting: Wednesday, September 23, 2026.
  • E-voting Period: Commences Sunday, September 27, 2026 (9:00 AM IST) and ends Tuesday, September 29, 2026 (5:00 PM IST).
  • Register of Members Closure: From September 24, 2026, to September 30, 2026 (both days inclusive).
  • Scrutinizer: Mr. Brij Kishore Sharma, Practicing Company Secretary (FCS-6206), appointed to scrutinize the voting process.

Financial Performance Highlights (FY 2025-26)

  • Revenue from Operations: ₹1,786.89 Lakhs (Previous Year: ₹2,212.58 Lakhs).
  • Profit/(Loss) Before Tax (PBT): (₹308.62) Lakhs (Previous Year: ₹22.56 Lakhs).
  • Profit/(Loss) After Tax (PAT): (₹287.61) Lakhs (Previous Year: ₹14.25 Lakhs).
  • Earnings Per Share (EPS): (₹5.88) (Previous Year: ₹0.29).
  • Gross Profit before Interest & Depreciation: ₹45.01 Lakhs (Previous Year: ₹374.74 Lakhs).
  • Interest Cost: ₹210.46 Lakhs (Previous Year: ₹217.26 Lakhs).
  • Depreciation: ₹143.17 Lakhs (Previous Year: ₹134.92 Lakhs).
  • Provision for Taxation: (₹21.01) Lakhs (Credit) (Previous Year: ₹8.31 Lakhs Expense).

Financial Position as of March 31, 2026

  • Total Assets: ₹4,265.33 Lakhs (Previous Year: ₹4,347.86 Lakhs).
  • Fixed Assets (Net): ₹765.88 Lakhs (Previous Year: ₹905.03 Lakhs).
  • Capital Work in Progress: ₹237.55 Lakhs (Previous Year: ₹131.58 Lakhs).
  • Investments: ₹2.60 Lakhs (Previous Year: ₹2.87 Lakhs).
  • Inventory: ₹2,125.74 Lakhs (Previous Year: ₹2,165.40 Lakhs).
  • Trade Receivables: ₹804.90 Lakhs (Previous Year: ₹837.66 Lakhs).
  • Cash and Cash Equivalents: ₹13.78 Lakhs (Previous Year: ₹8.03 Lakhs).
  • Total Equity: ₹110.51 Lakhs (Previous Year: ₹398.12 Lakhs).
  • Share Capital: ₹543.55 Lakhs (Unchanged from previous year).
  • Reserves and Surplus: (₹433.04) Lakhs (Previous Year: (₹145.43) Lakhs).
  • Total Borrowings: ₹4,154.83 Lakhs (Previous Year: ₹3,949.74 Lakhs).
  • Non-Current Borrowings: ₹2,634.83 Lakhs (Previous Year: ₹2,578.45 Lakhs).
  • Current Borrowings (incl. current maturities): ₹1,520.00 Lakhs (₹746.52 Short-term + ₹773.48 Current maturities) (Previous Year: ₹1,371.33 Lakhs).
  • Debt-Equity Ratio: 37.60 (Previous Year: 9.92).

Business Operations and Context

  • The company is engaged in the manufacturing and trading of PET containers (bottles, jars, caps), LLDPE water storage tanks, and PVC profiles.
  • Its manufacturing facilities are located in Jaipur and Bhiwadi, Rajasthan (Units I, II, and III).
  • The Board's Report cites reduced gross revenue and a net loss for the year, attributing performance to market conditions but highlighting inherent strengths like people and brand image.
  • The company states it took measures for cash flow, capital expenditure, and overhead control to manage operations.

Dividend and Reserves

  • The Board of Directors did not recommend any dividend for the financial year 2025-26.
  • Due to the loss incurred, no amount was transferred to reserves.

Ordinary Business for AGM

1. Adoption of Financial Statements: To receive, consider, and adopt the Audited Financial Statements for the year ended March 31, 2026, along with the Reports of the Board and Auditors.

2. Re-appointment of Director: To appoint a director in place of Mr. Prashant Singh Vohra (DIN: 09217439), who retires by rotation and, being eligible, offers himself for re-appointment.

Director Information (Mr. Prashant Singh Vohra)

  • DIN: 09217439
  • Date of Birth: October 20, 1979
  • Date of First Appointment: June 30, 2021
  • Designation: Non-Executive and Non-Independent Director.
  • Qualifications: B.Com
  • Expertise: Manufacturing and Trading of Garments for over 15 years.
  • Shareholding: Holds no equity shares in the company as of March 31, 2026.
  • Board Meeting Attendance: Attended 5 out of 5 meetings held during the year.
  • Other Directorships: None as of March 31, 2026.

Key Management Personnel (KMP)

  • Mr. Rajiv Baid: Chairman & Managing Director
  • Mr. Varun Baid: Executive Director
  • Mr. Gajanand Gupta: Chief Financial Officer & Company Secretary

Auditors

  • Statutory Auditors: M/s S R Goyal & Co., Chartered Accountants (Firm Reg. No. 001537C), appointed till the conclusion of the 37th AGM. Their report contains no reservations or adverse remarks.
  • Secretarial Auditors: M/s BK Sharma & Associates, Company Secretaries. Their report contains no qualifications or adverse remarks.
  • Internal Auditor: Mr. Durga Prasad Sharma was re-appointed for FY 2026-27.

Other Disclosures from Board's Report

  • Public Deposits: The company did not accept any public deposits during the year.
  • Corporate Social Responsibility (CSR): The company did not meet the criteria for constituting a CSR Committee under Section 135 of the Companies Act, 2013.
  • Conservation of Energy: The company reported reduced fuel consumption and has installed a rooftop solar system.
  • Foreign Exchange: No foreign exchange earnings or outgo during the year.
  • Human Resources: The company employed 85 employees as of March 31, 2026 (12 officers, 73 non-executive).
  • Loans, Guarantees, Investments: No loans, guarantees, or investments under Section 186 of the Companies Act, 2013, were made during the year.
  • Material Changes: No material changes or commitments affecting the financial position occurred between the year-end and the report date.
  • Significant Orders: No significant material orders were passed by regulators, courts, or tribunals impacting the going concern status.
  • Vigil Mechanism: A Whistle Blower Policy is established and operational. No complaints were received during the year.
  • Related Party Transactions: All related party transactions were reported to be on an arm's length basis and in the ordinary course of business. Details are provided in Annexure-II (AOC-2).
  • Internal Financial Controls: The company maintains adequate internal financial controls, which were operating effectively, as confirmed by the statutory auditors.

Auditor's Key Audit Matters

1. Accuracy of Revenue Recognition under Ind AS 115: Judgments involved in identifying performance obligations and determining transaction price.

2. Assessment of Contingent Liabilities: Judgment required in assessing potential outcomes of legal and tax cases.

Important Notes from Financial Statements

  • Trade Receivables: ₹32.48 Lakhs are under dispute/litigation. A provision for doubtful debts of ₹20.08 Lakhs was made during the year (PY: ₹11.50 Lakhs).
  • Inventory: The auditor's report states they relied on company stock records and were unable to satisfy themselves by alternative means concerning physical inventory quantities.
  • Borrowings: Working capital limits are secured by a hypothecation charge on all current assets (stock, book debts) and a mortgage on certain plant and machinery and properties. Term loans are secured by specific properties and personal guarantees of directors.
  • Micro, Small, and Medium Enterprises (MSME): The company has not received any intimation from suppliers regarding their status as MSMEs under the MSMED Act, 2006. Consequently, no disclosures on outstanding dues to MSMEs are provided.
  • Previous Year Figures: Previous year figures have been regrouped/recast wherever necessary to conform to the current year's presentation.