Key Financial Figures (FY 2025-26)

  • Total Revenue: ₹387.23 lakh (Previous year: ₹860.86 lakh)
  • Total Expenses: ₹284.33 lakh (Previous year: ₹687.44 lakh)
  • Profit Before Tax: ₹102.90 lakh (Previous year: ₹824.29 lakh)
  • Tax Expense: ₹25.41 lakh current tax (Previous year: ₹27.99 lakh current tax + ₹68.66 lakh deferred tax)
  • Net Profit: ₹77.49 lakh (Previous year: ₹727.64 lakh)
  • Exceptional Items: None in current year (Previous year: ₹650.87 lakh income)

Capital Structure

  • Authorized Share Capital: ₹25.00 crore consisting of:
  • 42,50,000 equity shares of ₹10 each (₹4.25 crore)
  • 20,75,000 2% Redeemable Cumulative Preference Shares of ₹100 each (₹20.75 crore)
  • Issued, Subscribed and Paid-up Capital: ₹24.00 crore consisting of:
  • 40,00,000 equity shares of ₹10 each (₹4.00 crore)
  • 20,00,000 2% Redeemable Cumulative Preference Shares of ₹100 each (₹20.00 crore)
  • Preference Shareholders: Cool Estates Pvt. Ltd. (50%) and Hendez Distributors Pvt. Ltd. (50%)
  • Dematerialization Status: 86.14% of equity shares (3,445,440 shares) held in dematerialized form

Key Dates and Events

  • AGM Date: 26th September, 2026 at 12:30 PM
  • AGM Venue: Hotel Park Inn by Raddison, Plot No.6A, IP Extension, Patparganj, New Delhi, 110092
  • Record Date for Voting: 21st September, 2026
  • Remote E-voting Period: 23rd September, 2026 (9:00 AM) to 25th September, 2026 (5:00 PM)
  • Board Meetings Held: 6 meetings during FY 2025-26 on 26.05.2025, 02.07.2025, 02.08.2025, 02.09.2025, 13.11.2025 & 12.02.2026

Management Changes

  • Resignations:
  • Mr. Deepak Gupta (Whole Time Director) resigned w.e.f. 06.08.2026
  • Mr. Sanjay Kumar Jha (Non-Executive Non-Independent Director) resigned w.e.f. 02.09.2025
  • Mr. Sahil Agarwal (Company Secretary & Compliance Officer) resigned w.e.f. 02.07.2026
  • Appointments:
  • Mr. Kunal Jain appointed as Company Secretary & Compliance Officer w.e.f. 26.05.2026
  • Proposed appointment of Mr. Sanjay Kumar Jha as Whole Time Director for 5 years at remuneration of ₹8,40,000 per annum
  • Proposed appointment of Mrs. Neelu Kapoor as Independent Director for 2 years

AGM Agenda Items

Ordinary Business:

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

2. Re-appointment of Mr. Rajesh Goyal (DIN: 01339614) as Director liable to retire by rotation

Special Business:

3. Appointment of Mr. Sanjay Kumar Jha (DIN: 07792067) as Whole Time Director

4. Appointment of Mrs. Neelu Kapoor (DIN: 08179192) as Independent Director

Significant Assets and Liabilities

  • Refund Receivable: ₹410.81 crore from Rajesh Projects (India) Pvt Ltd (group company under CIRP) against flats booked
  • Inventories: ₹73.12 lakh (Commercial units: ₹72.50 lakh, Shares: ₹0.62 lakh)
  • Borrowings: ₹346.07 lakh from body corporate related party (unsecured, repayable on demand)
  • Trade Payables: ₹121.23 lakh
  • Preference Share Capital: ₹1,583.79 lakh (treated as financial liability)

Contingent Liabilities and Legal Matters

  • Tax Demands: ₹99.83 crore disputed demands (₹22.31 crore income tax + ₹76.40 crore GST + ₹1.12 crore other taxes)
  • Pending Litigations: Multiple income tax disputes across assessment years 2002-03 to 2025-26
  • Insolvency Exposure: ₹410.81 crore refund receivable from Rajesh Projects (India) Pvt Ltd which is under CIRP proceedings

Corporate Governance

  • Board Composition: 5 directors as on 31st March, 2026 (1 executive, 2 non-executive, 2 independent)
  • Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee (dissolved w.e.f. 12.08.2026)
  • Auditors:
  • Statutory: M/s AD Gupta & Associates, Chartered Accountants
  • Internal: M/s SRPK & Co., Chartered Accountants
  • Secretarial: M/s NSP & Associates, Practicing Company Secretaries
  • Corporate Governance: Not applicable as paid-up equity capital below ₹10 crore and net worth below ₹25 crore

Related Party Transactions

Significant transactions with related parties including:

  • Lease rent paid to Rajesh Projects (India) Pvt Ltd: ₹3.60 lakh
  • Lease rent paid to Dishank Estate Management Pvt Ltd: ₹3.60 lakh
  • Maintenance charges to Elegant Facility Management Pvt Ltd: ₹16.50 lakh
  • Payment for immovable property to Empire Assets & Properties Pvt Ltd: ₹0.02 lakh

Employee Information

  • Total Employees: 4 employees as on 31st March, 2026
  • Key Managerial Personnel:
  • Deepak Gupta (Director): ₹3,00,000 per month
  • Bhupendra Tiwari (CFO): ₹85,000 per month
  • Sahil Agarwal (Company Secretary): ₹1,25,000 per month
  • Kajal Jha (Trainee): ₹15,100 per month
  • Employee Benefits: Provision for gratuity ₹7.42 lakh, provision for leave benefits ₹3.12 lakh

Forward-looking Statements

The company expects to receive its entire refundable amount of ₹410.81 crore from Rajesh Projects (India) Pvt Ltd during FY 2026-27, though ultimate recovery is subject to the outcome of insolvency proceedings.