Date: August 12, 2026

Board Meeting Outcomes

The Board of Directors meeting held on August 12, 2026 (commenced at 01:30 PM, concluded at 02:40 PM) approved:

1. Unaudited Standalone & Consolidated Financial Results along with the Limited Review report issued by M/s. Ashok Dhariwal & Co., Statutory Auditor for the quarter ended June 30, 2026

2. Appointment of M/s. R] & Associates, Practicing Cost Accountants (Firm Reg. No. 004690, M. No. 35524) as the Cost Auditor of the company to audit the cost records for the financial year 2026-2027, subject to ratification of fees by members at the ensuing Annual General Meeting

KMP / Board / Auditor Changes

Cost Auditor Appointment:

  • Name: M/s. R] & Associates, Cost Accountants
  • Address: S. F. 204, Ratnadeep Flora, New Ranip, Ahmedabad - Gujarat
  • Date of Appointment: August 12, 2026
  • Term: For Financial Year 2026-2027
  • Reason: Appointed to conduct the Cost Audit for FY2026-27
  • Profile: Extensive experience in areas of accounts, finance, costing, taxation, and management accountancy across various industries including Cement, Petroleum, Chemicals, Edible Oil, Dairy, Textile, Steel, Automobiles, Pharmaceutical, Plastic industry

Dividend Declaration

Not Specified

Financial Results (Standalone)

Quarter Ended June 30, 2026 (in lakhs):

  • Revenue from Operations: ₹5,460.72
  • Total Revenue: ₹5,459.72
  • Total Expenses: ₹4,990.44
  • Profit before Tax: ₹469.28
  • Tax Expense: ₹118.41 (Current Tax: ₹60.34, Deferred Tax: ₹58.07)
  • Profit for the Period: ₹350.87
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income: ₹350.87
  • Paid-up Equity Share Capital: ₹9,823.74
  • Basic EPS: ₹0.04
  • Diluted EPS: ₹0.04

Comparison with Previous Periods (in lakhs):

  • Q1 FY2026 Profit: ₹701.94 vs Q1 FY2027: ₹350.87 (down 50.0%)
  • Q4 FY2026 Profit: ₹252.97 vs Q1 FY2027: ₹350.87 (up 38.7%)
  • FY2026 Profit: ₹1,048.03 vs Q1 FY2027: ₹350.87
  • FY2025 Profit: ₹3,236.42

Financial Results (Consolidated)

Quarter Ended June 30, 2026 (in lakhs):

  • Revenue from Operations: ₹5,720.19
  • Total Revenue: ₹5,839.63
  • Total Expenses: ₹5,370.91
  • Profit before Tax: ₹468.72
  • Share in Profit of Joint Venture & Associates: ₹2.05
  • Tax Expense: ₹118.48 (Current Tax: ₹60.34, Deferred Tax: ₹58.14)
  • Profit for the Period: ₹352.28
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income: ₹352.28
  • Profit attributable to Owners: ₹348.09
  • Non-Controlling Interest: ₹4.19
  • Paid-up Equity Share Capital: ₹9,823.74
  • Basic EPS: ₹0.04
  • Diluted EPS: ₹0.04

Subsidiaries and Associates:

  • Includes 4 subsidiaries with total revenues of ₹306.71 lakhs and total PAT of ₹31.30 lakhs for Q1 FY2027
  • Includes 1 Joint Venture and 1 Associate with Group's share of PAT of ₹2.05 lakhs for Q1 FY2027
  • Specific entities: Goldman Hotels & Resorts Private Limited (associate), Strike Eco Grid Private Limited (associate), General Capital and Holding Co. Pvt. Ltd. (subsidiary), Shah Agrocorp Private Limited (subsidiary), Western Urja Private Limited (subsidiary), Metcorp Trading LLC (subsidiary), Shah Metacorp Holdings USA INC (joint venture)

Other Operational / Legal / Strategic Disclosures

Rights Issue:

  • Issued 9,71,63,362 Equity Shares of Face Value ₹1 each at issue price of ₹4.86 per share
  • Ratio: 36 Rights Equity Shares for every 311 existing fully paid-up shares
  • Record Date: May 27, 2026
  • Allotment approved by Right Issue Committee on June 30, 2026

Preferential Allotment:

  • Allotted 1,00,00,000 fully paid-up Equity Shares of face value ₹1 each at ₹4.71 per share (aggregating ₹4,71,00,000) to Ms. Mona Viral Shah, Promoter Director
  • Allotment executed on July 16, 2026 upon exercise of conversion rights attached to 1,00,00,000 convertible warrants (out of 2,00,00,000 warrants allotted on June 28, 2025)

Trade Receivables:

  • ₹76.26 crore overdue for significant period and unrecovered as of June 30, 2026
  • Provision for doubtful debts of ₹56.89 crores created against said balance
  • Company entered into MOU with overseas customer for proposed settlement

Investment:

  • Board approved equity investment of ₹52,000 for 26% stake in Strike Eco Grid Private Limited on April 23, 2026
  • Strike Eco Grid Private Limited became Associate Company from April 24, 2026

Investor Complaints:

  • Total 3 complaints received and resolved during quarter
  • No complaints left unattended as of June 30, 2026

Segment Information:

  • Principal business: manufacturing and sale of S.S. Products
  • Only one reportable operating segment as per Ind AS 108