Financial Performance Summary (FY 2025-26)

  • Total Revenue: ₹29,055.49 lakhs (₹290.55 crore) vs. ₹28,683.39 lakhs (₹286.83 crore) in FY25
  • EBITDA: (₹130.59 lakhs) loss vs. ₹1,121.49 lakhs profit in FY25
  • Profit Before Tax: (₹298.10 lakhs) loss vs. ₹988.61 lakhs profit in FY25
  • Profit After Tax: (₹331.20 lakhs) loss vs. ₹711.22 lakhs profit in FY25
  • Basic EPS: (₹10.72) vs. ₹23.02 in FY25
  • Capital Expenditure: ₹628.68 lakhs vs. ₹581.24 lakhs in FY25
  • Export Revenue: ₹689.87 lakhs (up from ₹575.16 lakhs in FY25)
  • Foreign Exchange Outgo: ₹25,863.03 lakhs (up from ₹23,504.29 lakhs in FY25)

Key Financial Ratios (FY26 vs FY25)

  • Debtors Turnover: 5.39 days vs 4.54 days
  • Inventory Turnover: 6.94 days vs 9.09 days
  • Current Ratio: 1.86 vs 2.08
  • Interest Coverage Ratio: (2.12) vs 15.67
  • Debt Equity Ratio: 0.16 vs 0.14
  • Operating Profit Margin: (0.70%) vs 3.69%
  • Net Profit Margin: (1.14%) vs 2.49%

AGM Details

  • Date: September 23, 2026 at 1:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means
  • Record Date: September 16, 2026 to September 23, 2026 (both days inclusive)
  • Remote E-voting Period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)

Business Items for AGM

Ordinary Business:

1. Adoption of audited standalone financial statements for FY 2025-26

2. Re-appointment of Mr. Megh Mehta (DIN: 07287394) as Executive Director retiring by rotation

Special Business:

3. Appointment of M/s. Divyesh J Shah & Associates (FRN: 118227W) as Statutory Auditors for 5 years from FY 2026-27 to FY 2030-31 at remuneration of ₹3.50 lakhs plus applicable taxes

4. Ratification of remuneration of ₹1,00,000 plus applicable taxes for M/s. S. N. Addagatla & Co. as Cost Auditors for FY 2026-27

Capital Structure

  • Paid-up Equity Share Capital: ₹308.97 lakhs (30,89,700 equity shares of ₹10 each)
  • No change in share capital during the year
  • Dematerialization Status: 89.95% of shares in demat form (NSDL: 70.37%, CDSL: 19.58%)

Dividend Declaration

  • No dividend declared for FY 2025-26 due to operational losses
  • Previous dividend: ₹0.90 per share (₹30.90 lakhs total) paid in FY25

Director & KMP Remuneration

  • Mr. Lalit Mehta (CMD): ₹48.00 lakhs
  • Mr. Rajesh Mehta (Executive Director & CFO): ₹42.00 lakhs
  • Mr. Megh Mehta (Executive Director): ₹21.00 lakhs (proposed for re-appointment)
  • Mr. Nishant Kankaria (Company Secretary): ₹2.92 lakhs
  • Independent Directors: Total ₹8.00 lakhs in sitting fees

Corporate Governance

  • Board Composition: 7 Directors (3 Executive, 4 Independent Non-Executive)
  • Board Meetings: 9 meetings held during FY26
  • Committees: Audit, Nomination & Remuneration, Stakeholders' Relationship, Risk Management, Health Safety & Sustainability, CSR
  • Whistleblower Policy: In place, no complaints received during the year
  • Sexual Harassment: No cases reported during the year

CSR Activities

  • Total Spending: ₹23.29 lakhs (100% of requirement)
  • Focus Areas: Animal welfare (₹19.00 lakhs), Education (₹4.28 lakhs), Relief (₹0.01 lakhs)
  • Implementing Partners: Various registered trusts including Shree Prabhavhem Kumdhenu Girivihar Trust, Shree Vishwa Vastalya Foundation, Shri Mahavira Jaina Vidyalaya

Key Operational Metrics

  • Employee Strength: 30 employees as of March 31, 2026
  • Industrial Relations: Cordial
  • Plant Locations: Plot No. A2/3444-3445, GIDC, Phase 4, Ankleshwar-393002, Gujarat
  • Corporate Office: 701/702, Business Square, M. A. Road, Andheri (West), Mumbai-400058

Related Party Transactions

  • No material related party transactions during FY26
  • Transactions limited to remuneration to directors/KMPs in ordinary course of business

Risk Factors Identified

  • Currency risk due to foreign exchange volatility
  • Competition risk from low-priced products from China and domestic manufacturers
  • Credit risk from trade receivables
  • Inventory risk of dead stocks/slow moving items/rejections
  • Operational risk of fire, theft & explosion

Forward-looking Statements

The Management Discussion & Analysis contains cautionary statements that actual results could differ materially from projections due to economic conditions, raw material costs, government regulations, and other factors.