Event Details

Ravelcare Limited will hold its 8th Annual General Meeting (AGM) on Wednesday, September 23, 2026 at 11:30 a.m. through Video Conferencing/Other Audio-Visual Means. The cut-off date for determining shareholder eligibility is Wednesday, September 16, 2026. Remote e-voting will commence from Sunday, September 20, 2026 at 9:00 a.m. and end on Tuesday, September 22, 2026 at 5:00 p.m.

Financial Performance Highlights (FY 2025-26)

  • Revenue from operations: ₹2,695.43 lakhs (7.9% growth from previous year's ₹2,497.89 lakhs)
  • Profit After Tax: ₹515.40 lakhs (previous year: ₹508.56 lakhs)
  • Net profit margin: 19.1%
  • Net worth: ₹3,740.84 lakhs (debt-free position)
  • Other income: ₹8.29 lakhs (down from ₹31.91 lakhs in previous year)
  • Total expenses: ₹1,996.47 lakhs (9.3% increase from ₹1,826.44 lakhs)
  • Tax expense: ₹191.85 lakhs (slight decrease from ₹194.80 lakhs)

IPO and Listing Details

The company successfully completed its Initial Public Offering comprising a fresh issue of 18,54,000 equity shares at ₹130 per share, aggregating to ₹2,410.20 lakhs. The shares listed on BSE SME platform on December 8, 2025, with a listing price of ₹201 per share (54.6% premium). The IPO saw an overall subscription of 437.60x.

Post-IPO, the authorized share capital stands at ₹7,01,00,000 divided into 70,10,000 equity shares of ₹10 each. The subscribed and paid-up capital is ₹6,85,90,000 divided into 68,59,000 equity shares.

Business Operations and Strategy

  • The company operates in the beauty and personal care segment with personalized haircare and skincare products
  • Serves customers across 27,000+ pincodes covering every state and union territory of India
  • Repeat purchase rate exceeds 35%
  • Launched Ravel PRO clinical haircare line in June 2026, now available on major marketplaces and quick commerce channels
  • Planning to launch derm-grade skincare range in Q3 FY27
  • Company follows a digital-first D2C business model with proprietary diagnostic quiz for product personalization

AGM Agenda Items

Ordinary Business:

1. Adoption of audited financial statements for FY ended March 31, 2026

2. Re-appointment of Mrs. Anita Mahesh Varma (DIN: 10560934) who retires by rotation

Special Business:

3. Re-appointment of Mr. Ayush Varma (DIN: 08290637) as Managing Director for 3 years from June 20, 2027 with remuneration not exceeding ₹75,00,000 per annum

4. Re-appointment of Mr. Maheshkumar Varma (DIN: 09756885) as Whole-time Director for 3 years from June 20, 2027 with remuneration up to ₹30,00,000 per annum with 15% annual increment

Director Details and Remuneration

  • Mr. Ayush Varma (Managing Director): Remuneration FY26 - ₹12.50 lakhs, proposed - ₹75.00 lakhs
  • Mr. Maheshkumar Varma (Whole-time Director): Remuneration FY26 - ₹5.00 lakhs, proposed - ₹30.00 lakhs
  • Mrs. Anita Mahesh Varma (Non-Executive Director): No remuneration
  • Independent Directors: Received sitting fees only

Corporate Governance

  • Board met 8 times during FY 2025-26
  • All directors attended all board meetings
  • Company has constituted Audit Committee, Stakeholders Relationship Committee, Nomination and Remuneration Committee, and CSR Committee
  • Compliance with Secretarial Standards SS-1 and SS-2
  • Whistleblower policy and vigil mechanism in place

CSR Activities

  • CSR expenditure of ₹9.60 lakhs (2% of average net profit of last three years)
  • Focus on child welfare and women empowerment initiatives
  • No unspent CSR amount requiring transfer to specified fund

Utilization of IPO Proceeds (as of March 31, 2026)

  • Total raised: ₹2,410.20 lakhs
  • Utilized: ₹760.91 lakhs
  • Unutilized: ₹1,649.29 lakhs (held in term deposits)
  • Breakdown of utilization:
  • Marketing and advertisement: ₹346.80 lakhs (against ₹1,150.00 lakhs allocated)
  • General corporate purpose: ₹195.01 lakhs (against ₹213.21 lakhs allocated)
  • Public issue expenses: ₹219.10 lakhs (against ₹266.39 lakhs allocated)
  • Manufacturing facility: ₹0 (against ₹780.60 lakhs allocated)
  • No deviation or variation in use of proceeds from objects stated in prospectus

Key Management Changes

  • Mr. Ajinkya Rajendra Jain resigned as Independent Director effective June 16, 2026
  • Ms. Shruti Rajesh Sohane appointed as Additional Director (Independent) effective June 16, 2026
  • Ms. Esha Srivastava resigned as Company Secretary effective March 6, 2026
  • Mr. Alpesh Rajeshbhai Bhatt appointed as Company Secretary effective March 17, 2026

Shareholding Pattern (as of March 31, 2026)

  • Promoters, Directors, Relatives and Associates: 72.94% (50,02,998 shares)
  • Indian Public: 16.05% (11,01,002 shares)
  • Alternate Investment Funds: 6.28% (4,31,000 shares)
  • Foreign Portfolio Investors Category I: 2.57% (1,76,000 shares)
  • Non-Resident Indians: 1.05% (72,000 shares)
  • Others: 1.11% (76,000 shares)

Dividend and Reserves

  • No dividend declared for FY 2025-26
  • Profit of ₹515.40 lakhs transferred to reserves

Other Significant Information

  • Company has 23 permanent employees as of March 31, 2026
  • No material orders passed by regulators/courts impacting going concern status
  • All shares are in dematerialized form
  • No outstanding GDRs/ADRs/warrants or convertible instruments