Key Quantitative Figures

  • Total Revenue: ₹74,92,655 (FY26) vs ₹2,51,256 (FY25)
  • Total Expenses: ₹24,76,464 (FY26) vs ₹31,83,334 (FY25)
  • Profit/(Loss) before Tax: ₹50,16,191 profit (FY26) vs ₹(29,32,078) loss (FY25)
  • Profit after Tax: ₹49,98,109 (FY26) vs ₹(29,32,078) (FY25)
  • EPS (Basic & Diluted): ₹0.69 (FY26) vs ₹(0.04) (FY25)
  • Current Ratio: 1.029 (FY26) vs 1.043 (FY25)
  • Debt-Equity Ratio: 0.219 (FY26) vs 0.220 (FY25)
  • Return on Equity: 0.066 (FY26) vs -0.041 (FY25)
  • Total Assets: ₹19,82,37,271 (FY26) vs ₹19,18,73,764 (FY25)
  • Share Capital: ₹7,25,28,000 (unchanged)
  • Reserves & Surplus: ₹33,95,949 (FY26) vs ₹(16,02,159) (FY25)
  • Loans Receivable: ₹10,93,97,646 (FY26) vs ₹10,18,22,985 (FY25)
  • Trade Receivables: ₹8,21,42,836 (FY26) vs ₹8,35,32,735 (FY25)
  • Long Term Borrowings: ₹1,65,90,000 (FY26) vs ₹1,55,90,000 (FY25)

Dates of Action

  • AGM Date: Monday, 21st September 2026 at 04:15 PM
  • Book Closure: 14th September 2026 to 21st September 2026 (both days inclusive)
  • E-voting Period: 18th September 2026 (09:00 AM) to 20th September 2026 (05:00 PM)
  • Record Date: 14th September 2026
  • Postal Ballot Result Date (previous): 25th July 2025
  • Financial Year: 1st April 2025 to 31st March 2026

Parties Involved

  • Stock Exchange: BSE Limited
  • Registrar & Transfer Agent: Skyline Financial Services Private Limited
  • Statutory Auditors: M/s. Srivastava S & Co. (Chartered Accountants)
  • Secretarial Auditors: M/s. V. Agnihotri & Associates (Practicing Company Secretaries)
  • Bankers: Yes Bank Limited
  • Scrutinizer: Mr. Vaibhav Agnihotri
  • E-voting Agency: National Securities Depository Limited (NSDL)

Special Business Item

Item 3: Taking on record the non-implementation of resolutions passed by members via Postal Ballot (result declared 25.07.2025) including:

  • Increase in Authorised Share Capital from ₹40 crore to ₹60 crore
  • Alteration of Object Clause and adoption of new Memorandum of Association
  • Adoption of new Articles of Association

Reason for Non-implementation: Proposed investor(s) were unable to infuse requisite funds of approximately ₹35,00,000 towards government/ROC fees, causing resolutions to lapse due to non-execution within prescribed timelines under Companies Act, 2013.

Financial Impact

  • The company turned profitable in FY26 with PAT of ₹49.98 lakh compared to loss of ₹29.32 lakh in FY25
  • No dividend declared for FY 2025-26 to conserve resources
  • Reserves improved to ₹33.96 lakh from negative ₹16.02 lakh
  • Current tax provision: ₹12,720
  • Deferred tax: ₹5,362

Capital Structure Impact

  • No change in share capital during the year (remains ₹7,25,28,000)
  • No dilution or holding changes reported
  • Authorised share capital increase resolution lapsed due to funding issues

Cash Flow Implications

  • Net cash flow from operating activities: ₹(13,17,245)
  • Net cash flow from financing activities: ₹13,83,173
  • Net increase in cash: ₹65,928
  • Closing cash balance: ₹3,45,137

Board and Director Changes

  • Mr. Rajeev Agarwal retires by rotation and offers himself for re-appointment
  • Mr. Rupesh Kumar Mittal and Mr. Mitesh Milanbhai Solanki resigned effective 25.02.2026
  • Mrs. Sushila Aggarwal appointed as Non-Executive Independent Director effective 28.01.2025
  • Ms. Kavita Awasthi ceased as Independent Director on 03.04.2025 after completing second term

Compliance Issues noted in Secretarial Audit Report

1. Non-compliance with Section 170(2) regarding filing of DIR-12 for director appointment/cessation

2. Non-compliance with Section 64(1) regarding non-filing of notice for alteration of capital clause

3. Non-compliance with Section 117(3)(a) regarding non-filing of special resolutions

4. Non-compliance with Rule 22(3) regarding newspaper advertisement of Postal Ballot notice

Contingent Liabilities

  • Income tax demands under appeal: ₹299.63 lakhs for AY 2010-11 to 2016-17
  • SEBI matter: ₹12.50 lakhs under protest
  • Service tax matter: ₹3.20 lakhs under protest
  • Income tax under appeal: ₹29.38 lakhs

Related Party Transactions

All related party transactions were at arm's length basis and in ordinary course of business. No materially significant transactions reported.

Internal Financial Controls

Company maintains adequate internal financial controls commensurate with its size and nature of business. No material weaknesses reported.

Forward-looking Statements

Management Discussion & Analysis contains cautionary statement that forward-looking statements are based on current expectations and actual results could differ due to economic conditions, regulatory changes, and market developments.

Shareholding Pattern (as on 31.03.2026)

  • Promoters: 12.38% (8,97,618 shares)
  • Non-Promoters: 87.62% (63,55,182 shares)
  • Public holding: Individuals 72.26%, Bodies Corporate 13.46%, Others 1.83%