Annual General Meeting Details
- AGM Date: Tuesday, September 29, 2026 at 12:00 PM
- Mode: Video Conference (VC) or Other Audio-Visual Means (OAVM)
- Record Date: August 21, 2026 for determining members eligible for e-communication
- E-voting Period: September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM) through CDSL platform
Business Items for AGM
Ordinary Business:
1. Adoption of Standalone Financial Statements, Board's Report and Auditors' Report for FY 2025-26
2. Re-appointment of Mr. Shaileshbhai Ratibhai Pipaliya (DIN: 00832768) as Director retiring by rotation
Special Business:
3. Appointment of M/s. H Togadiya & Associates (CP No. 18233) as Secretarial Auditors for 5 consecutive years from FY 2026-27 to FY 2030-31 at remuneration to be mutually agreed
4. Approval for Related Party Transactions under Section 188 of Companies Act, 2013 for FY 2026-27 up to aggregate limit of ₹5 Crore
Board of Directors (as of March 31, 2026)
- Shaileshbhai Ratibhai Pipaliya – Managing Director (DIN: 00832768)
- Hansaben Shaileshbhai Pipaliya – Director (DIN: 00832937)
- Alpeshkumar Chandulal Gajera - Independent Director (DIN: 11527339) - Appointed Feb 16, 2026
- Tushar Rai Sharma - Independent Director (DIN: 09211414) - Appointed April 29, 2025
- Jay Shaileshkumar Pipaliya – Director
Resignations during FY26:
- Chand Rameshbhai Kanabar - Independent Director (resigned March 23, 2026)
- Shyam Bhadresh Kapadiya - Independent Director (resigned April 29, 2025)
Key Managerial Personnel:
- CS Neelu Jain - Company Secretary and Compliance Officer
- Laxmanbhai Thakarshi Bhai Vavesa - Chief Financial Officer (appointed February 16, 2026)
Financial Highlights (Standalone)
| Particulars (₹ in Lakhs) | FY 2025-26 | FY 2024-25 |
| Revenue from Operations | 2,909.62 | 2,503.30 |
| Other Income | 1.31 | 5.57 |
| Total Revenue | 2,910.92 | 2,508.87 |
| Total Expenses | 2,342.11 | 1,945.94 |
| Profit before Tax | 568.82 | 562.93 |
| Current Tax | 142.31 | 140.43 |
| Deferred Tax | 0.85 | 1.25 |
| Profit after Tax | 425.66 | 413.88 |
| EPS (Basic & Diluted) | 7.04 | 7.04 |
Capital Structure Changes
Authorized Capital: ₹10,00,00,000 divided into 1,00,00,000 equity shares of ₹10 each
Paid-up Capital: ₹8,63,99,890 divided into 86,39,989 equity shares of ₹10 each (increased from 61,71,589 shares)
IPO Details:
- Successfully completed Initial Public Offering of 24,68,400 Equity Shares
- Face value: ₹10 per share, Issue price: ₹100 per share (including premium of ₹90)
- Subscription period: December 8-10, 2025
- Allotment date: December 11, 2025
- Listing date: December 15, 2025 on BSE SME Platform (EMERGE)
- Funds raised: ₹2,468.40 Lakhs
Dividend and Reserves
- No dividend recommended for FY 2025-26
- Entire profit of ₹425.66 Lakhs transferred to retained earnings
- Securities Premium Account: ₹2,004.16 Lakhs (after utilization of ₹217.40 Lakhs for expenses)
Operational Performance
- Revenue increased by 16.23% from ₹2,503.30 Lakhs to ₹2,909.62 Lakhs
- Net profit increased by 2.85% from ₹413.88 Lakhs to ₹425.66 Lakhs
- EPS maintained at ₹7.04 despite increase in share capital
- No change in nature of business
Shareholding Pattern
Promoter Holding: 67.59% (61,69,929 shares)
- Hansaben Shaileshbhai Pipaliya: 35.29% (30,49,254 shares)
- Shaileshbhai Ratibhai Pipaliya: 32.30% (27,90,335 shares)
- Jay Shaileshkumar Pipaliya: 3.82% (3,30,340 shares)
Board Meetings and Attendance
10 Board meetings held during FY25-26 with following attendance:
- Shaileshbhai Pipaliya: 10 out of 10
- Hansaben Pipaliya: 10 out of 10
- Tushar Rai Sharma: 9 out of 9
- Jay Pipaliya: 10 out of 10
- CS Neelu Jain: 10 out of 10
Committee Composition
Audit Committee:
- Alpeshkumar Gajera (Chairman)
- Shaileshbhai Pipaliya (Member)
- Tushar Rai Sharma (Member)
- 4 meetings held during the year
Nomination and Remuneration Committee:
- Alpeshkumar Gajera (Chairman)
- Hansaben Pipaliya (Member)
- Tushar Rai Sharma (Member)
- 1 meeting held during the year
Stakeholders Relationship Committee:
- Alpeshkumar Gajera (Chairman)
- Hansaben Pipaliya (Member)
- Tushar Rai Sharma (Member)
- 1 meeting held during the year
Director's Remuneration
- Shaileshbhai Pipaliya: ₹1,50,000 per month (₹18,00,000 annually)
- Other directors' remuneration as per company policy
Auditor Appointments
Statutory Auditors: M/s. K M Chauhan & Associates reappointed for 5 years until 24th AGM
Secretarial Auditors: M/s. H Togadiya & Associates proposed for appointment for 5 years from FY 2026-27 at remuneration of ₹1,00,000
Related Party Transactions
- Seeking shareholder approval for RPTs up to ₹5 Crore for FY 2026-27
- All transactions to be in ordinary course of business at arm's length
- Detailed disclosures provided in Form AOC-2
Employee Statistics
- Total employees: 60
- Female: 4, Male: 56, Transgender: 0
- No complaints received under Sexual Harassment at Workplace Act
Secretarial Audit Report
Clean report issued by M/s. H Togadiya & Associates with no qualifications
Compliance with Companies Act, 2013, SEBI Regulations, and other applicable laws confirmed
Statutory Auditor's Report
Unmodified opinion issued by K M Chauhan & Associates
No fraud reported under Section 143(12) of Companies Act, 2013
Adequate internal financial controls confirmed
Key Financial Ratios
| Ratio | FY 2025-26 | FY 2024-25 |
| Current Ratio | 2.49 | 1.53 |
| Debt-Equity Ratio | 0.28 | 1.04 |
| Return on Equity | 18.18% | 74.41% |
| Net Profit Margin | 14.63% | 16.53% |
| Inventory Turnover | 1.18 | 1.59 |
Contingent Liabilities
No material contingent liabilities or commitments reported
Subsequent Events
No material events occurring after balance sheet date requiring adjustment or disclosure