Financial Performance

FY 2025-26 Financial Results (₹ lakhs):

  • Gross Sales/Income: ₹0.26 (Previous year: ₹0.06)
  • Profit Before Depreciation & Tax: (₹30.21) (Previous year: (₹8.62))
  • Less Depreciation: ₹0.00 (Previous year: ₹0.00)
  • Profit/(Loss) Before Tax: (₹30.21) (Previous year: (₹8.62))
  • Taxes/Deferred Taxes: ₹0.00 (Previous year: ₹0.00)
  • Profit/(Loss) After Taxes: (₹30.21) (Previous year: (₹8.62))
  • P&L Balance B/F: (₹363.21) (Previous year: (₹1,298.90))

Capital Structure Changes:

  • Implemented scheme of capital reduction approved by Hon'ble NCLT Ahmedabad on June 23, 2025
  • Reduced issued, subscribed and paid-up equity share capital from ₹10,73,22,720 (1,07,32,272 equity shares of ₹10 each) to ₹1,07,32,270 (10,73,227 equity shares of ₹10 each)
  • 90% reduction to cancel and extinguish capital to write off accumulated losses
  • Capital reduction loss write-off: ₹965.90 lakh

Equity Warrant Issue:

  • Issued 40,00,000 convertible equity warrants @ ₹10.50 per share to non-promoters
  • EGM held on November 12, 2025 for approval
  • In-principle approval received from BSE on December 30, 2025
  • Received 25% warrant application money as per SEBI ICDR Chapter V compliance
  • 20,00,000 warrants converted into shares on April 06, 2026 (post-year end)
  • Listing approval received from BSE on May 20, 2026 for converted shares
  • Post-issue paid-up capital becomes ₹3,07,32,270 (30,73,227 shares of ₹10 each)

Board and Management Changes

Resignations during FY 2025-26:

  • Mr. Rohitkumar Parikh (Managing Director) - resigned 03/02/2026
  • Mr. Manthan Bhavsar (Managing Director) - resigned 29/12/2025
  • Mr. Chirag Nanavati (Independent Director) - resigned 13/03/2026

Appointments during FY 2025-26:

  • Mr. Ayush Vinod Kumar Tated (Managing Director) - appointed 09/01/2026
  • Mr. Jignesh Keshav Barot (Independent Director) - appointed 29/09/2025
  • Ms. Rinku Saini (Independent Director) - appointed 01/12/2025
  • Mr. Jubin Premji Gada (Independent Director) - appointed 14/10/2025
  • Mr. Ajay Suresh Yadav (Director) - appointed 01/12/2025
  • Mr. Harsh Suresh Jain (CFO) - appointed 11/11/2025

Current Key Managerial Personnel (as of March 31, 2026):

  • Managing Director: Mr. Ayush Vinod Kumar Tated
  • CFO: Mr. Harsh Suresh Jain
  • Company Secretary: Mrs. Krishna Bhavsar

47th Annual General Meeting Details

Date: August 28, 2026

Time: 12:30 PM (IST)

Mode: Video Conferencing (VC) only

Record Date: August 21, 2026

Book Closure: August 22, 2026 to August 28, 2026 (both days inclusive)

Agenda Items:

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

2. Re-appointment of Mr. Ayush Vinod Kumar Tated as Director (Executive)

3. Regularization of Mr. Ayush Vinod Kumar Tated as Executive Director

4. Appointment of Mr. Ayush Vinod Kumar Tated as Managing Director (09/01/2026 to 08/01/2031) at remuneration of ₹15,000/month

5. Regularization of Mr. Jubin Premji Gada as Non-Executive Independent Director

6. Regularization of Ms. Rinku Saini as Non-Executive Independent Director

Auditor Information

Statutory Auditors: M/s. P. H. Shah & Co., Chartered Accountants (FRN: 115464W)

  • Appointed to fill casual vacancy caused by resignation of Mr. Meet Shah
  • Tenure: From October 08, 2025 till conclusion of 47th AGM
  • Recommended for 5-year term from 47th AGM to 52nd AGM

Secretarial Auditor: Mrs. Rupal Patel, Practicing Company Secretary

Operational Highlights

  • Company engaged in trading of chemical and agriculture produce
  • Business revival stage following capital reduction
  • Successfully raised fresh capital from investors
  • Secured purchase order valued at approximately ₹5 crore for execution in FY 2026-27
  • Registered office shifted twice during year within Ahmedabad
  • No dividend declared for FY 2025-26
  • No amounts require transfer to Investor Education and Protection Fund (IEPF)

Corporate Governance

  • Board met 18 times during FY 2025-26
  • Audit Committee met 4 times
  • Nomination and Remuneration Committee met 8 times
  • Stakeholders' Relationship Committee met 4 times
  • Independent Directors met once on March 14, 2026
  • Vigil Mechanism policy established and implemented

Compliance Status

Secretarial Audit Qualifications:

  • Company not uploaded related party transactions in XBRL mode as required under Regulation 23(9) of SEBI LODR
  • Company not published financial results and AGM notice in newspaper as required under Regulation 47

Other Compliances:

  • No fraud reported during financial year
  • No sexual harassment complaints received
  • No pending litigation material to financial position
  • No contingent liabilities outstanding as of March 31, 2026
  • No deposits accepted from public
  • No loans, guarantees or investments under Section 186
  • CSR provisions not applicable

Shareholding Pattern (as of March 31, 2026)

  • Promoter & Promoter Group: 12.58%
  • Public-Individual: 46.64%
  • Bodies Corporate: 37.19%
  • NRI: 0.28%
  • HUF: 3.08%
  • Clearing Members: 0.23%
  • Total Shareholders: 2,218
  • Dematerialized Holdings: 100% (NSDL: 21.82%, CDSL: 78.18%)

Subsequent Events

  • Conversion of 20,00,000 warrants into equity shares on April 06, 2026
  • Listing approval received from BSE on May 20, 2026 for converted shares
  • Trading application submitted for converted shares