Key Financial Figures (Standalone)

  • Revenue from Operations: ₹98.03 lakh (Previous year: ₹105.27 lakh)
  • Profit Before Tax: ₹60.27 lakh (Previous year: ₹6.58 lakh)
  • Tax Expense: ₹35.74 lakh (Previous year: tax credit of ₹1.21 lakh)
  • Profit After Tax: ₹24.53 lakh (Previous year: ₹7.79 lakh)
  • Total Comprehensive Income: ₹37.27 lakh (Previous year: ₹6.09 lakh)
  • Basic EPS: ₹0.68 (Previous year: ₹0.11)
  • Paid-up Share Capital: ₹5,48,64,000 (54,86,400 equity shares of ₹10 each)
  • Net Worth: ₹1,843.27 lakh
  • No dividend recommended for FY 2025-26

Board of Directors and Key Managerial Personnel

  • Kumud Ashok Mehta - Wholetime Director & Chief Financial Officer
  • Ashok Maganlal Mehta - Managing Director
  • Jigar Rajendra Sheth - Independent Director
  • Hardik Pravinbhai Makwana - Independent Director
  • Krishna Kumar Omprakash Dubey - Non-Executive Director
  • Aagvi Chintan Botadra - Company Secretary and Compliance Officer

AGM Details

  • 35th Annual General Meeting to be held on Monday, September 28, 2026, at 9:30 AM
  • Venue: 1, Floor-GRD, Plot-514B, Amar Kunj, R P Masani Road, Road No 32 Khalsa Collage, Matunga, Mumbai -400019
  • Record Date: September 21, 2026
  • Register of Members closure: September 22-28, 2026 (both days inclusive)

AGM Agenda Items

Ordinary Business

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

2. Re-appointment of Mr. Krishna Kumar Omprakash Dubey (DIN: 09829412) who retires by rotation

Special Business

3. Re-appointment of Mr. Ashok Maganlal Mehta (DIN: 00163206) as Managing Director for 5 years from September 08, 2026 to September 07, 2031, with remuneration up to ₹24,00,000 per annum

4. Regularization of Mr. Viral Snehal Chinai (DIN: 11906624) as Non-Executive Independent Director for 5 years from September 03, 2026

Director Remuneration Details

Mr. Ashok Maganlal Mehta (Managing Director):

  • Tenure: 5 years (September 08, 2026 to September 07, 2031)
  • Remuneration: Up to ₹24,00,000 per annum (inclusive of salary, perquisites, benefits, incentives)
  • Past remuneration: Same amount (₹24,00,000 per annum)
  • Minimum remuneration clause: In case of loss or inadequacy of profits, to be paid as minimum remuneration subject to Schedule V provisions

Company Performance Highlights

  • Industry: Iron & Steel Products
  • PBT Trend: ₹1,448.62 lakh (FY24), ₹6.58 lakh (FY25), ₹60.27 lakh (FY26)
  • PAT Trend: ₹1,150.05 lakh (FY24), ₹7.79 lakh (FY25), ₹24.53 lakh (FY26)
  • Business Overview: Company discontinued job-work activity since October 1, 2020, due to COVID-19 impact
  • Foreign Exchange: No foreign exchange earnings or outgo during the year

Auditor Appointments

  • Statutory Auditors: M/s Bilimoria Mehta & Co, Chartered Accountants (appointed until 38th AGM)
  • Internal Auditors: M/s Yogesh Bhuva & Co., Chartered Accountants
  • Secretarial Auditors: M/s Jaymin Modi & Co., Practicing Company Secretary
  • Fees to Statutory Auditors: ₹75,000 for all services

Corporate Governance

  • Board Meetings: 5 meetings held during FY 2025-26
  • Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee
  • Risk Management Policy: In place and reviewed by Risk Management Committee
  • Vigil Mechanism: Established for reporting genuine concerns
  • CSR: Not applicable as company doesn't meet threshold criteria

Other Disclosures

  • Unclaimed Dividend: ₹1,13,656 of unpaid dividend for 2017-18 transferred to Investor Education and Protection Fund
  • Related Party Transactions: Minimal transactions at arm's length basis
  • Loans/Investments: No loans, guarantees, or investments under Section 186 of Companies Act, 2013
  • Deposits: No deposits accepted or renewed during the year
  • Sexual Harassment: No complaints filed, disposed of, or pending during the year

E-Voting Arrangements

  • Remote e-voting period: September 24, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)
  • E-voting service provider: NSDL
  • Scrutinizer: M/s Jaymin Modi & Co.
  • Cut-off date: September 21, 2026

Annexures to Directors' Report

  • Annexure A: Conservation of Energy, Technology Absorption, Foreign Exchange (Not applicable)
  • Annexure B: Related Party Transactions (Form AOC-2)
  • Annexure C: Employee Remuneration Details
  • Annexure D: Secretarial Audit Report
  • Annexure E: Management Discussion and Analysis

Financial Statement Components

1. Directors' Report (pages 24-45)

2. Annexures A-E to Directors' Report (pages 33-41)

3. Independent Auditor's Report (pages 46-55)

4. Standalone Balance Sheet (page 56)

5. Statement of Profit & Loss (page 57)

6. Cash Flow Statement (page 58)

7. Notes to Financial Statements (pages 59-73)