Financial Performance Summary

FY26 Financial Highlights (₹ in Lakhs)

  • Total Income: ₹1,124.36 (Previous year: ₹768.59)
  • Revenue from Operations: ₹1,110.84 (Previous year: ₹765.81)
  • Other Income: ₹13.52 (Previous year: ₹2.78)
  • Profit Before Tax: ₹342.75 (Previous year: ₹145.33)
  • Profit After Tax: ₹324.35 (Previous year: ₹134.60)
  • Total Comprehensive Income: ₹324.42 (Previous year: ₹142.36)
  • Earnings Per Share: ₹0.06 (Previous year: ₹0.03)

Financial Position as at March 31, 2026 (₹ in Lakhs)

  • Authorized Share Capital: ₹10,000.00 (1,000,000,000 equity shares of ₹1 each)
  • Paid-up Share Capital: ₹5,488.82 (548,881,540 equity shares of ₹1 each)
  • Reserves and Surplus: ₹1,529.87
  • Total Assets: ₹14,111.51
  • Non-Current Assets: ₹7,342.98
  • Current Assets: ₹6,226.16
  • Inventory: ₹5,276.83 (Work in progress: ₹2,716.86; Finished goods: ₹2,559.97)

Capital Structure Changes

Preferential Allotment

Pursuant to Board approval on November 24, 2025 and shareholder approval at EGM on December 26, 2025, the company:

  • Allotted 2,51,39,620 equity shares of face value ₹1 each at ₹2.55 per share
  • Aggregate issue value: ₹6,41,06,031
  • Allottee: Mr. Ashish Patel (Promoter and Managing Director)
  • Purpose: Conversion of unsecured loan into equity
  • Allotment date: February 2, 2026
  • Listing approval obtained from BSE on February 13, 2026
  • Trading approval granted on February 26, 2026

Shareholding Pattern (as on March 31, 2026)

  • Promoters: 49.69% (27,27,24,653 shares)
  • Public: 46.93% (25,76,13,996 shares)
  • Dematerialized Shares: 98.31%
  • Physical Shares: 1.69%

Board and Governance Updates

Director Changes

  • Re-appointment: Mr. Alok Vaidya (DIN: 00101864) retires by rotation and recommended for re-appointment at AGM
  • Appointments:
  • Mr. Dineshsingh Kshatriya (DIN: 00789633) appointed as Independent Director from July 2, 2025
  • Mr. Rajendra Patel (DIN: 00800183) appointed as Independent Director from July 28, 2025
  • Resignation: Mr. Tushar Patel resigned as Independent Director effective May 29, 2025
  • Completion of Term: Mr. Bharat Pandya ceased to be Independent Director effective March 31, 2026

Key Managerial Personnel

  • Mr. Ashish Patel: Chairman, CEO & Managing Director
  • Mr. Pranav Patel: Chief Financial Officer
  • Ms. Khyati Patel: Company Secretary & Compliance Officer

Board Committees

  • Audit Committee: Mr. Bharat Pandya (Chairman), Mr. Alok Vaidya, Mr. Nirav Patel
  • Nomination & Remuneration Committee: Mr. Bharat Pandya (Chairman), Mr. Alok Vaidya, Mr. Nirav Patel
  • Stakeholder Relationship Committee: Mr. Bharat Pandya (Chairman), Mr. Alok Vaidya, Mr. Ashish Patel
  • CSR Committee: Mr. Bharat Pandya (Chairman), Mr. Ashish Patel, Mr. Nirav Patel

Operational Highlights

Business Operations

  • Primary business: Real estate development (residential, commercial, plotting, social infrastructure)
  • No change in nature of business during the year
  • No material changes or commitments affecting financial position post year-end
  • Employee strength: 17 (11 male, 6 female)

Project Status

  • Project 'Radhe Acres' undergoing dispute with Shantinagar Co-operative Society regarding land title
  • Supreme Court has put stay on selling plots under this scheme
  • Management believes stay will be relieved soon and litigation will not cause material loss

Dividend and Reserves

  • No dividend recommended for FY26 to conserve resources
  • Total comprehensive income of ₹324.42 lakh transferred to reserves and surplus

Auditors

  • Statutory Auditors: M/s. S. Parth & Co., Chartered Accountants (FRN: 154463W)
  • Appointed on August 11, 2025 to fill casual vacancy
  • Remuneration: ₹1.17 lakh for FY26
  • Secretarial Auditors: M/s. Jalan Alkesh & Associates, Company Secretaries
  • Internal Auditors: M/s. Kishan Tilva & Company, Chartered Accountants

Compliance Status

  • No fraud reported by auditors
  • No material related party transactions
  • All applicable secretarial standards followed
  • No deposits accepted under Sections 73-76 of Companies Act, 2013
  • No outstanding transfers to Investor Education and Protection Fund (IEPF)

Annual General Meeting

  • 32nd AGM Date: September 19, 2026 at 11:00 AM
  • Venue: Registered Office at Radhe Acres, Shela, Ahmedabad
  • Business:

1. Adoption of financial statements for FY26

2. Re-appointment of Mr. Alok Vaidya as director

  • Book Closure: September 13, 2026 to September 19, 2026
  • E-voting Period: September 16, 2026 (9:00 AM) to September 18, 2026 (5:00 PM)

Key Ratios (FY26 vs FY25)

  • Current Ratio: 0.99 (0.97)
  • Debt-Equity Ratio: 0.43 (0.58)
  • Inventory Turnover Ratio: 0.21 (0.15)
  • Net Profit Margin: 29.20% (18.59%)
  • Return on Net Worth: 6.04% (4.08%)

Related Party Transactions

  • Outstanding loans from directors: ₹20.72 crore
  • Transactions with related parties at arm's length and in ordinary course of business
  • No material related party transactions requiring disclosure

Risk Factors

  • Delays in project approvals due to absence of single-window clearance
  • Rising cost of construction materials and labor
  • Funding constraints for large-scale projects
  • Dependence on monsoon performance for sustaining rural demand
  • Market demand fluctuations

Future Outlook

  • India expected to remain among fastest-growing major economies
  • Continued government investment in infrastructure supportive
  • Favorable demographics and urbanization trends
  • Company focused on strengthening project execution capabilities and maintaining financial discipline