AGM Details

The 33rd Annual General Meeting will be held on Tuesday, 29th September, 2026 at 9:30 AM (IST) through Video Conferencing/Other Audio Visual Means. The cutoff date for determining eligibility to vote is Tuesday, 22nd September, 2026.

Business to be Transacted

Ordinary Business:

1. To receive, consider and adopt Audited Financial Statements as on 31st March, 2026 with Reports of Board of Directors and Auditors

2. To appoint Director in place of Mrs. Sangita Devi (DIN: 09161446) who retires by rotation

Special Business:

3. Related Party Transactions: Approval for entering into related party transactions with related parties including:

  • Purchase/sale of goods from Spectrum Foods Limited (expected value ₹20 crore in FY26-27)
  • Rental payments to Mr. Girdhar Saboo for office premises (expected value ₹25 lakh in FY26-27)

4. Increase in MD Remuneration: Special resolution to increase remuneration of Mr. Girdhar Saboo (DIN: 00364750), Managing Director, from ₹4,00,000 to ₹5,00,000 per month as basic salary effective from October 1, 2026. Other benefits include medical reimbursement, travel reimbursement, club membership, insurance, company-maintained car, telephone, and other facilities.

Financial Performance (FY 2025-26)

Income Statement:

  • Total Income: ₹64.75 crore (Previous year: ₹55.19 crore)
  • Profit before depreciation and tax: ₹2.23 crore (Previous year: ₹1.99 crore)
  • Depreciation: ₹1.70 crore (Previous year: ₹1.82 crore)
  • Profit before tax: ₹0.53 crore (Previous year: ₹0.17 crore)
  • Tax expense: ₹2.99 crore (including deferred tax of ₹1.45 crore)
  • Profit after tax: ₹2.33 lakh (Previous year: ₹3.15 lakh)

Segment-wise Performance:

  • Salt Division: Sales of ₹60.92 crore
  • Hospitality Division (Samskara Resort): Revenue of ₹2.94 crore (₹2.62 crore room revenue + ₹0.31 crore F&B sales)
  • Solar Energy: Sales of ₹0.09 crore

Financial Position:

  • Total Assets: ₹85.77 crore (Previous year: ₹74.56 crore)
  • Inventories: ₹22.34 crore (Previous year: ₹18.33 crore)
  • Trade Receivables: ₹8.25 crore (Previous year: ₹12.71 crore)
  • Cash and Bank Balances: ₹15.88 crore (Previous year: ₹3.86 crore)
  • Share Capital: ₹42.00 crore (4,20,77,550 equity shares of ₹10 each)
  • Borrowings: ₹31.59 crore (long-term) + ₹0.002 crore (short-term)

Dividend

No dividend recommended due to inadequate profits.

Audit Matters

Statutory Auditors: M/s. R.P. KHANDELWAL & ASSOCIATES

Qualified Opinion with following basis:

1. Revenue recognition - Salt turnover booked on MRP basis with approximately 49% trade discount shown as dealer/distributor discount

2. Lack of physical accounting records for hospitality division from April-November 2021 (detained with GST department)

3. No age-wise classification of trade receivables above six months

4. Non-compliance with Schedule III disclosure requirements (current maturities of term loans not disclosed)

Internal Financial Controls:

Auditors expressed qualified opinion on adequacy and operating effectiveness of internal financial controls.

Related Party Transactions

Material transactions with related parties:

  • Spectrum Foods Limited (Group Company): Transactions worth ₹9.04 crore in FY25-26 (₹10.06 crore in FY24-25, ₹2.81 crore in FY23-24)
  • Mr. Girdhar Saboo: Rental payments of ₹15 lakh each in FY23-24, FY24-25, and FY25-26

Corporate Governance

Board Composition:

  • Mr. Girdhar Saboo (Managing Director)
  • Mr. Madan Singh Jain (Independent Director)
  • Mr. Kamal Sharma (Independent Director)
  • Smt. Sangita Devi (Non-executive Woman Director)
  • Mr. Nagendra Singh (Independent Director)
  • Mr. Gajendra Singh Rathore (Independent Director)

Key Managerial Personnel:

  • Mr. Girdhar Saboo (Managing Director)
  • Ms. Garima Shekhawat (Company Secretary)
  • Mr. Jagdish Kumawat (CFO)

Board Meetings:

14 meetings held during FY25-26

Changes in Directors/KMP

  • Mr. Jagdish Kumawat appointed as CFO on 10.05.2025
  • Ms. Komal resigned as Company Secretary on 10.04.2025
  • Ms. Garima Shekhawat appointed as Company Secretary on 10.04.2025

Shareholding Pattern (as on 31st March, 2026)

  • Promoters: 47.52% (19,945,089 shares)
  • Public: 52.48% (22,026,392 shares)
  • Dematerialized shares: 99% of total share capital

Subsidiary

Samskara Resorts Private Limited (wholly-owned subsidiary)

Business Outlook

  • Salt industry: Market moving towards branded salt with 15% growth expected in refined iodized salt segment
  • Hospitality: Expanding hotel business, purchasing 10 acres land in Kukas-Jaipur and 2 acres near Samskara Resort
  • Solar power: 75 KW system installed at Samskara Resort, 300 KWP plant at factory location

Investor Grievances

No complaints pending as on 31st March, 2026