Annual General Meeting Details

The 9th Annual General Meeting will be held on Wednesday, September 30, 2026 at 12:00 Noon IST through Video Conferencing/Other Audio-Visual Means. The cut-off date for determining members entitled to vote is Wednesday, September 23, 2026.

Financial Performance Summary (Standalone)

FY 2025-26 Performance:

  • Revenue from Operations: ₹237.14 lakh (decreased 69.52% from FY24-25 ₹778.12 lakh)
  • Other Income: ₹144.47 lakh (primarily subsidy income of ₹141.44 lakh)
  • Total Income: ₹381.61 lakh
  • Total Expenses before Depreciation, Finance Cost and Tax: ₹376.85 lakh
  • Profit Before Tax: (₹64.28) lakh (loss)
  • Profit After Tax: (₹49.57) lakh (loss)
  • Basic EPS: (₹0.43)

FY 2024-25 Comparison:

  • Revenue from Operations: ₹778.12 lakh
  • Profit After Tax: ₹68.65 lakh profit
  • Basic EPS: ₹0.60

Financial Performance Summary (Consolidated)

FY 2025-26 Performance:

  • Revenue from Operations: ₹241.14 lakh
  • Total Income: ₹385.61 lakh
  • Profit After Tax: (₹50.96) lakh (loss)

FY 2024-25 Comparison:

  • Revenue from Operations: ₹1,715.38 lakh
  • Profit After Tax: ₹64.75 lakh profit

Key Financial Ratios (Standalone)

Significant changes compared to previous year:

  • Current Ratio: 5.60 (from 7.99) - decreased 29.91%
  • Debt-Equity Ratio: 0.16 (from 0.29) - decreased 44.83%
  • Return on Equity: -3.09% (from 8.43%) - decreased 136.65%
  • Net Profit Ratio: -20.90% (from 8.82%) - decreased 336.96%
  • Inventory Turnover Ratio: 0.42 (from 0.82) - decreased 48.78%
  • Trade Receivables Turnover Ratio: 0.49 (from 1.11) - decreased 55.86%

Business Overview

The company is engaged in trading of plastic granules and plastic household products (tubs, buckets, ghamela, etc.) and manufacturing plastic products for household use. The company has taken land on lease in MIDC, Jalgaon for setting up a manufacturing unit.

AGM Agenda Items

Ordinary Business:

1. Adoption of Financial Statements: Adoption of audited standalone and consolidated financial statements for FY ended March 31, 2026

2. Reappointment of Director: Reappointment of Mr. Harish Manohar Sirwani (DIN: 07844075) as Chairman & Managing Director who retires by rotation

3. Reappointment of Statutory Auditor: Reappointment of M/s. D.G.M.S. & Co., Chartered Accountants (FRN: 0112187W) for second term of 5 years until conclusion of 14th AGM in 2031

Special Business:

4. Remuneration Approval: Special resolution to approve payment of remuneration to Mr. Harish Manohar Sirwani of up to ₹1.00 lakh per month for his remaining term

5. Related Party Transaction: Ordinary resolution to approve material RPTs with R S Industries aggregating ₹10 crore for FY26-27

6. Related Party Transaction: Ordinary resolution to approve material RPTs with Mr. Harish Sirwani aggregating ₹5 crore for FY26-27

7. Related Party Transaction: Ordinary resolution to approve material RPTs with Mrs. Nidhi Sirwani aggregating ₹5 crore for FY26-27

Key Managerial Personnel Changes

  • Ms. Pooja Bagrecha resigned as Company Secretary and Compliance Officer on April 6, 2026
  • Ms. Priyanka Madan Tambatkar appointed as Company Secretary and Compliance Officer effective July 6, 2026

Board Composition

As of March 31, 2026, the Board comprised:

  • Mr. Harish Manohar Sirwani: Chairman & Managing Director (Executive)
  • Ms. Nidhi Harish Sirwani: Non-Executive Director
  • Mr. Manish Gurumukhdas Karera: Non-Executive Independent Director
  • Mrs. Shital Bhagvan Kharche: Non-Executive Independent Director

Share Capital

  • Authorized Capital: ₹12.00 crore (1.20 crore equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹11.49 crore (1.14 crore equity shares of ₹10 each)
  • No change in share capital during the year

Dividend

No dividend recommended for FY 2025-26 due to loss position.

Subsidiary Information

The company has one subsidiary: Roni Agro Limited (CIN: U01100MH2023PLC397603) in which it holds 50.95% stake. The subsidiary reported:

  • Turnover: ₹4.00 lakh for FY25-26
  • Net Worth: ₹5.11 crore
  • Net Loss: ₹1.73 lakh

Statutory Auditors

M/s. D.G.M.S. & Co., Chartered Accountants expressed an unmodified opinion on both standalone and consolidated financial statements with no qualifications, reservations, or adverse remarks.

Secretarial Auditor

M/s. Rajendra Kapase & Associates, Practicing Company Secretary, issued Secretarial Audit Report with one qualification regarding delayed filing of SAST disclosure by shareholder Mr. Shailesh on December 3-4, 2025, which was filed on December 11, 2025.

Related Party Transactions

FY25-26 transactions included:

  • Loan repayments to Harish Sirwani: ₹150.62 lakh
  • Loan repayments to Nidhi Sirwani: ₹96.80 lakh
  • Loans received from Harish Sirwani: ₹49.03 lakh
  • Loans received from Nidhi Sirwani: ₹16.76 lakh
  • Purchase of goods from R S Industries: ₹79.19 lakh

Compliance Issues

  • Delayed filing of SAST disclosure for share purchases by Mr. Shailesh on December 3-4, 2025
  • Delayed filing of E-forms AOC-4 and MGT-15 with additional fees
  • Outstanding TDS dues from previous years totaling approximately ₹0.76 lakh

Voting Arrangements

Remote e-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM) through NSDL. Members can also vote during the AGM through e-voting system.

Important Dates

  • AGM Date: September 30, 2026
  • Cut-off Date: September 23, 2026
  • Remote E-voting: September 27-29, 2026
  • Scrutinizer: M/s. Mittal V. Kothari & Associates