Key Quantitative Figures

Financial Performance (FY25-26 vs FY24-25):

  • Revenue from Operations: ₹3,337.46 lakhs (prev. ₹2,480.46 lakhs) - 34.55% increase
  • Other Income: ₹30.71 lakhs (prev. ₹38.37 lakhs)
  • Profit Before Tax: ₹627.01 lakhs (prev. ₹587.69 lakhs)
  • Profit After Tax: ₹519.41 lakhs (prev. ₹478.24 lakhs) - 8.6% increase
  • Current Tax: ₹110.73 lakhs (prev. ₹102.29 lakhs)
  • Earnings Per Share (Basic & Diluted): ₹6.58 (prev. ₹6.06)

Capital Structure:

  • Paid-up Share Capital as of March 31, 2026: ₹789.57 lakhs (78,95,678 equity shares of ₹10 each)
  • Post-IPO Paid-up Capital (July 1, 2026): ₹1,074.44 lakhs
  • IPO Proceeds: ₹3,019.73 lakhs raised through issue of 28,48,800 equity shares

Director Remuneration:

  • Gaurang Ramanbhai Galiya (MD): ₹26.00 lakhs
  • Ramanbhai Nanubhai Galiya (WTD): ₹10.00 lakhs
  • Sobhanaben Ramanbhai Galiya (Director): ₹10.00 lakhs

Other Financials:

  • Total Borrowings: ₹2,640.00 lakhs (Long-term) + ₹1,496.23 lakhs (Short-term)
  • Inventory: ₹4,104.62 lakhs
  • Trade Receivables: ₹87.62 lakhs
  • CSR Expenditure: ₹8.37 lakhs (mandated) + ₹12.90 lakhs (actual spent)

Dates of Action

  • AGM Date: September 29, 2026 at 11:30 AM through VC/OAVM
  • Record Date for AGM: September 22, 2026
  • Remote e-Voting Period: September 26-28, 2026
  • Financial Year Ended: March 31, 2026
  • IPO Date: July 1, 2026 (post year-end)
  • Auditor's Report Date: July 21, 2026

Parties Involved

Board of Directors:

  • Mr. Gaurang Ramanbhai Galiya (Managing Director)
  • Mr. Ramanbhai Nanubhai Galiya (Whole-Time Director)
  • Mrs. Sobhanaben Ramanbhai Galiya (Non-Executive Independent Director)
  • Mrs. Aditi Parmar (Non-Executive Independent Director)
  • Mr. Runel Saxena (Non-Executive Independent Director)

Key Managerial Personnel:

  • Mr. Nileshbhai Mansukhbhai Chalalia (CFO)
  • Ms. Mansi Patel (Company Secretary & Compliance Officer)

Auditors:

  • Statutory Auditor: Abhishek Kumar & Associates (Chartered Accountants)
  • Secretarial Auditor: M/s. Nirav Shah & Associates (Company Secretaries)
  • Internal Auditor: Mr. Rajesh Kumar (appointed July 21, 2026)

Registrar & Transfer Agent: Skyline Financial Services Pvt. Ltd.

Financial and Operational Impact

  • The company reported improved financial performance with revenue growth of 34.55% and PAT growth of 8.6%
  • No dividend declared for FY25-26 to preserve resources for business growth
  • IPO proceeds of ₹30.20 crore to be utilized as per prospectus objects
  • The company operates in ethnic wear segment with 190 permanent employees
  • No material orders from regulators/courts affecting going concern status

Capital Structure Impact

  • Post-IPO equity dilution: Paid-up capital increased from ₹789.57 lakhs to ₹1,074.44 lakhs
  • Promoter holding: Gaurang Galiya (69.62%), Ramanbhai Galiya (15.06%), Sobhanaben Galiya (15.06%)

Corporate Governance

  • 11 Board meetings held during FY25-26 with full attendance
  • All applicable committees (Audit, NRC, Stakeholders) constituted and functional
  • Company complied with Secretarial Standards SS-1 and SS-2
  • Vigil Mechanism/Whistle Blower Policy in place

Related Party Transactions

Transactions at arm's length basis included:

  • Managerial remuneration to directors totaling ₹46 lakhs
  • Rent payments to related parties: ₹47.20 lakhs to Crystal Solar Energy, ₹15 lakhs to Ramanbhai Galiya
  • Commission payment: ₹4.20 lakhs to Bhavana Joy Chuhan (relative of director)

Auditor's Remarks

  • Statutory auditors issued unqualified opinion
  • Key audit matter: Post-balance sheet IPO fundraising of ₹30.20 crore
  • No fraud reported by auditors under section 143(12)
  • Income tax outstanding demand of ₹118.12 lakhs for AY 2025-26 pending