Popular Foundations Limited Annual Report 2025-26

Management Details

Board of Directors:

  • Mr. A S Venkatesh (Managing Director)
  • Mrs. Vinita Venkatesh (Whole Time Director)
  • Mr. V Sridhar (Independent Director)
  • Mr. N Venkatesan (Independent Director)
  • Ms. Umaa Sharvani (Independent Director)

Key Managerial Personnel:

  • Mr. N Chellappa (Chief Financial Officer)
  • Mrs. Soniya Sharma (Company Secretary & Compliance Officer)

Auditors:

  • Statutory Auditors: M/s. Krishaan & Co., Chartered Accountants
  • Internal Auditors: M/s. Srinivasan & Srivatsan, Chartered Accountants
  • Secretarial Auditor: Mr. R Mukundan

Bankers: Indian Bank, Ethiraj Salai Branch, Chennai

Registrar & Share Transfer Agents: BTS Consultancy Services Pvt Ltd, Chennai

Annual General Meeting Details

The 28th Annual General Meeting will be held on Tuesday, September 22, 2026, at 11:00 AM through Video Conferencing (VC)/Other Audio-Visual Means (OAVM).

Ordinary Business:

1. To adopt audited financial statements for year ended March 31, 2026

2. To re-elect Mrs. Vinita Venkatesh (DIN: 01736279) who retires by rotation

Record Date: September 15, 2026

Remote E-voting Period: September 19, 2026 (9:00 AM) to September 21, 2026 (5:00 PM) through NSDL

Financial Performance Review (₹ in Lakhs)

| Particulars | Year Ended 31.03.2026 | Year Ended 31.03.2025 |

| Turnover | 6178.59 | 5867.92 |

| Other Income | 47.21 | 37.48 |

| Total Income | 6225.79 | 5905.40 |

| Profit before Financial Expenses, Depreciation and Taxation | 316.82 | 741.83 |

| Financial expenses | 161.98 | 152.76 |

| Operating profit before Depreciation & Taxation | 154.83 | 589.07 |

| Depreciation | 47.49 | 43.09 |

| Profit before Taxation | 107.34 | 545.98 |

| Provision for Taxation | 6.45 | 165.11 |

| Profit after Taxation | 100.89 | 380.87 |

Performance Highlights:

  • Total income increased to ₹62.26 crore from ₹59.05 crore in previous year
  • Profit after tax declined to ₹1.01 crore from ₹3.81 crore in previous year
  • ₹1.01 crore transferred to General Reserve
  • No dividend recommended for financial year 2025-26

Capital Structure

Share Capital: ₹20.38 crore (2,03,78,000 equity shares of ₹10 each)

Promoter Holding: 61.35% (1,25,00,000 shares)

  • Mr. A S Venkatesh: 93,75,000 shares (46.01%)
  • Mrs. Vinita Venkatesh: 31,25,000 shares (15.34%)

Key Balance Sheet Items (as at March 31, 2026)

  • Property, Plant and Equipment: ₹4.95 crore
  • Trade Receivables: ₹9.02 crore (Net of provision)
  • Unbilled Receivables: ₹38.15 crore
  • Inventories: ₹22.06 crore
  • Cash and Cash equivalents: ₹4.45 crore
  • Trade Payables: ₹23.56 crore
  • Long-term borrowings: ₹1.66 crore
  • Short-term borrowings: ₹12.47 crore

Director Changes

During the year under review:

  • Mr. D H Gopalakrishnan, Independent Director resigned
  • Ms. Umaa Sharvani was appointed as Independent Director for five years from March 23, 2026

Auditor Reports

Statutory Auditors (M/s. Krishaan & Co.):

  • Issued unqualified opinion on financial statements
  • Identified Key Audit Matters:

1. Revenue recognition from construction contracts

2. Trade receivables valuation (₹9.02 crore)

3. Trade payables existence and completeness (₹23.56 crore)

  • No fraud reported under Section 143(12)

Secretarial Auditor (Mr. R Mukundan):

  • No qualifications, reservations, or adverse remarks in Secretarial Audit Report
  • Company complied with all applicable secretarial standards

Corporate Governance & Compliance

  • Board Meetings: 4 meetings held during the year
  • Committee Composition:
  • Audit Committee: Mr. V Sridhar (Chairman), Mr. N Venkatesan, Ms. Umaa Sharvani, Mr. A S Venkatesh
  • Nomination & Remuneration Committee: Mr. N Venkatesan (Chairman), Mr. V Sridhar, Ms. Umaa Sharvani
  • Stakeholders Relationship Committee: Mr. N Venkatesan (Chairman), Mr. V Sridhar, Ms. Umaa Sharvani
  • Vigil Mechanism: Policy exists, no complaints received during the year
  • Internal Financial Controls: Adequate and operating effectively
  • Related Party Transactions: All transactions at arm's length basis

Other Significant Disclosures

  • Subsidiaries: None as of March 31, 2026
  • Deposits: No deposits accepted from public
  • CSR: Not applicable as company doesn't meet threshold criteria
  • Internal Complaints Committee: No complaints received during the year
  • Material Orders: No significant orders passed by regulators/courts
  • Benami Properties: No proceedings initiated or pending
  • Wilful Defaulter: Not declared by any bank/financial institution

Future Outlook

The company operates in the construction industry and reported healthy order books. Management aims to increase new clientele while securing repeat orders from existing clients. The professional team focuses on safety, cost, quality, delivery, integrity, and customer satisfaction.