Annual General Meeting Details

  • Date and Time: Friday, August 21, 2026 at 12:30 PM
  • Mode: Video Conferencing / Other Audio-Visual Means (VC/OAVM)
  • Cut-off date for e-voting: Friday, August 14, 2026
  • E-voting period: August 18, 2026 (09:00 AM) to August 20, 2026 (05:00 PM)
  • Record Date for AGM: Friday, July 24, 2026
  • Register of Members closure: Saturday, August 15, 2026 to Friday, August 21, 2026 (both days inclusive)

Business to be Transacted

Ordinary Business

1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026 with Reports of Board of Directors and Statutory Auditors

2. Re-appointment of Mr. Shantanu Raghav Sharma (DIN: 02903419) who retires by rotation

Special Business

3. Ratification/Approval of Related Party Transactions entered during FY 2025-26 totaling ₹856.71 lakhs

Key Financial Highlights (₹ in Lakhs)

| Particulars | FY 2025-26 | FY 2024-25 |

| Revenue from Operations | 7,829.59 | 1,302.78 |

| Other Income | 26.84 | 2.23 |

| Total Income | 7,856.43 | 1,305.01 |

| Profit Before Finance Cost, Depreciation & Tax | 405.89 | 208.66 |

| Finance Cost | 119.41 | 114.60 |

| Depreciation & Amortization | 88.89 | 86.12 |

| Profit Before Tax | 197.59 | 7.94 |

| Tax Expense | 32.98 | 1.24 |

| Profit After Tax | 164.61 | 6.70 |

| Earnings Per Share (₹) | 4.68 | 0.19 |

Related Party Transactions Requiring Ratification

Total value of related party transactions during FY 2025-26: ₹856.71 Lakhs

| Sr. No. | Related Party | Relationship | Nature of Transaction | Value (₹ in Lakhs) |

| 1 | Mr. Raghav Kailashnath Sharma | Managing Director (KMP) | Remuneration | 3.00 |

| 2 | Mrs. Shailja Raghav Sharma | Whole-time Director (KMP) | Remuneration | 3.00 |

| 3 | Mr. Bernard Yunsen Wong | Chief Financial Officer (KMP) | Remuneration | 4.28 |

| 4 | Mrs. Milita H. Wong | Relative of CFO | Rent | 1.08 |

| 5 | Sankalp Marketing & Managing Services | Promoter Group Entity | Purchase of Goods/Services | 98.50 |

| 6 | Sankalp Marketing & Managing Services | Promoter Group Entity | Sale of Goods/Services | 81.40 |

| 7 | S.S. Enterprises | Promoter Group Entity | Purchase of Goods/Services | 175.08 |

| 8 | S.S. Enterprises | Promoter Group Entity | Sale of Goods/Services | 330.30 |

| 9 | Shakti Offset Works | Promoter Group Entity | Payment made on behalf of | 0.14 |

| 10 | Shri Krishna Cardboard Pvt. Ltd. | Promoter Group Entity | Payment made on behalf of | 0.14 |

| 11 | Super Offset Pvt. Ltd. | Promoter Group Entity | Payment made on behalf of | 0.14 |

| 12 | S.S. Enterprises | Promoter Group Entity | Payment made on behalf of | 81.05 |

| 13 | S.S. Enterprises | Promoter Group Entity | Payment received on behalf of the Company | 97.60 |

Capital Structure Initiatives

  • Authorised Share Capital: Increased in December 2025 to facilitate fund-raising initiatives
  • Preferential Issue: BSE granted In-Principle Approval on January 2, 2026 for issue of 94,75,000 Convertible Warrants at ₹27.25 per warrant
  • Warrant Allotment: Completed on January 9, 2026 (39,20,000 warrants) and January 17, 2026 (52,30,000 warrants)
  • Rights Issue: Received BSE approval during March 2026 for proposed Rights Issue

Business Diversification

  • Paper Division: Continued existing operations
  • Agri Division: Commenced operations during FY 2025-26, contributing significantly to revenue growth
  • Company now operates through two reportable business segments

Dividend and Reserves

  • No dividend recommended for FY 2025-26 to conserve resources for growth
  • No amount transferred to General Reserve

Board Composition and Changes

  • Mr. Pradip Sudhakarrao Channe appointed as Independent Director
  • Mr. Subrat Prithwishchandra Banerjee appointed as Executive Director
  • Ms. Shivani Goydani Mundra appointed as Company Secretary & Compliance Officer w.e.f. April 3, 2025
  • Mr. Shantanu Raghav Sharma retires by rotation and offers himself for re-appointment

Board Meetings

10 Board meetings held during FY 2025-26 on: May 26, 2025; August 13, 2025; August 30, 2025; October 29, 2025; November 11, 2025; December 12, 2025; January 6, 2026; January 9, 2026; February 13, 2026; February 25, 2026

Key Managerial Personnel

  • Mr. Raghav Kailashnath Sharma - Managing Director
  • Mr. Bernard Yunsen Wong - Chief Financial Officer
  • Ms. Shivani Goydani Mundra - Company Secretary & Compliance Officer (w.e.f. April 3, 2025)

Auditors

  • Statutory Auditors: D.P. Sarda & Co., Chartered Accountants (Firm Registration No. 117227W) continue for FY 2026-27
  • Secretarial Auditors: M/s. Jain Paranjape & Associates, Practicing Company Secretaries

Auditor Qualifications/Emphasis of Matter

1. Internal auditor not appointed for FY 2025-26 as required under Section 138 of Companies Act, 2013

2. Depreciation calculated on aggregate basis without component-wise records of fixed assets, not in accordance with Ind AS 16

3. Management not recognizing deferred tax asset/liability, not following provisions of Ind AS 12

Secretarial Audit Observations

1. Company has not filed financial statements in Form AOC-4 XBRL for FYs 2021-22, 2022-23

2. Company has not filed Annual Return in Form MGT-7 for FY 2023-24

3. Mr. Arvind Modak (Independent Director) not enrolled with independent director database

4. Related party transactions not approved by members, company in process to get ratification

CEO & CFO Certification

Certified by Mr. Raghav Kailashnath Sharma (Managing Director) and Mr. Bernard Yunsen Wong (CFO) on July 24, 2026 affirming:

  • Financial statements present true and fair view
  • No fraudulent, illegal transactions except as disclosed to auditors
  • Appropriate whistle blower protection provided
  • Board members and senior management affirmed compliance with Code of Conduct

Financial Ratios

| Ratio | FY 2025-26 | FY 2024-25 |

| Debt-Equity Ratio | 0.88 | 0.93 |

| Debt Service Coverage Ratio | 3.40 | 2.17 |

| Current Ratio | 2.05 | 1.71 |

| Return on Equity | 7% | 0.4% |

Contingent Liabilities and Litigations

  • Income Tax: ₹63.33 lakhs for AY 2014-15 (Appeal filed with CIT), ₹5.78 lakhs for AY 2019-20 (Pending with AO)
  • GST: ₹5.00 lakhs for FY 2019-20, ₹250.00 lakhs for FY 2018-19 (Pending with Assistant Commissioner)
  • Professional Tax: ₹1.29 lakhs outstanding for more than six months

Share Capital

  • Authorised Capital: ₹3,153.00 lakhs (315.30 lakh equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up: ₹352.02 lakhs (35.20 lakh equity shares of ₹10 each)