Company Overview

Poojawestern Metaliks Limited (Scrip Code: 540727) submitted its Annual Report for FY 2025-26, detailing mixed financial performance and corporate developments. The company manufactures brass plumbing fittings, brass ingots, pipe inserts, and sanitary fittings with manufacturing facilities in Jamnagar, Gujarat.

Financial Performance

Standalone Financials (Amount in ₹ lakhs)

  • Revenue from operations: ₹5,394.07 (FY26) vs ₹5,036.58 (FY25) - increase of 7.09%
  • Profit Before Tax: ₹121.94 (FY26) vs ₹212.81 (FY25) - decrease of 42.7%
  • Profit After Tax: ₹88.61 (FY26) vs ₹155.43 (FY25) - decrease of 43%
  • Earnings Per Share: ₹0.87 (FY26) vs ₹1.53 (FY25)

The profitability decline was attributed to lower exports to Gulf countries due to market-related challenges while fixed expenses continued.

Consolidated Financials

  • Revenue from operations: ₹7,456.55 (FY26) - includes subsidiary Sierra Metal Industries
  • Profit After Tax: ₹159.71 (FY26)
  • Earnings Per Share: ₹1.57 (FY26)

Key Financial Ratios Deterioration

Significant changes (>25%):

  • Debt Service Coverage Ratio: 1.10 (FY26) vs 1.96 (FY25) - decreased 43.88%
  • Return on Equity: 0.06 (FY26) vs 0.12 (FY25) - decreased 50%
  • Net Profit Ratio: 0.02 (FY26) vs 0.03 (FY25) - decreased 33.33%
  • Return on Capital Employed: 0.17 (FY26) vs 0.27 (FY25) - decreased 37.04%

Corporate Actions & Subsidiaries

  • No dividend recommended for FY26 to conserve resources
  • Rights Issue: Received in-principle approval from BSE for ₹16.23 crore issue but subsequently withdrawn
  • Subsidiaries:
  • Sierra Metal Industries Private Limited (99.98% owned) commenced operations in FY26
  • Brasscraft Engineering Private Limited incorporated but not commenced operations

Corporate Governance & AGM

10th Annual General Meeting

  • Date: September 12, 2026 at 11:30 AM through Video Conferencing
  • Agenda: Adoption of financial statements, reappointment of directors (Anil Devram Panchmatiya, Hitesh Amritlal Vishrolia, Bimal Sureshkumar Udani), appointment of new statutory auditors M/s. B. B. Gusani & Associates
  • Voting: E-voting period from September 09-11, 2026 with cut-off date September 05, 2026

Board Composition

  • 8 Directors: 4 Executive and 4 Non-Executive Independent Directors
  • Key Managerial Personnel: Sunil Devram Panchmatiya (Chairman & MD), Anil Devram Panchmatiya (Whole Time Director), Hitesh Rasiklal Khakhkhar (CFO), Tejus Rameshchandra Pithadiya (Company Secretary)

Auditor Reports & Compliance

Statutory Auditors (DGMS & Co.)

  • Unmodified opinion on financial statements
  • Emphasis of Matter: Outstanding income tax liability of ₹52.73 lakh for FY 2024-25

Secretarial Audit (Mittal V. Kothari & Associates)

Observations noted:

  • Physical signature used instead of Digital Signature Certificate
  • Non-disclosure of Brasscraft Engineering status in consolidated results notes
  • Delay in IEPF filings and independent directors' databank registration issues

Related Party Transactions

  • Unsecured loans to directors totaling ₹421.66 lakh outstanding with subsidiary Sierra Automation Pvt Ltd.
  • Rent payments to directors disclosed
  • No material prejudicial transactions reported