Shayona Engineering Submits FY26 Annual Report

Revenue from Operations: ₹4,027.23 lakh (prev. ₹2,316.13 lakh) - 73.88% increase
Total Income: ₹4,031.22 lakh (prev. ₹2,317.69 lakh) - 73.93% increase
Profit Before Tax: ₹534.08 lakh (prev. ₹391.89 lakh) - 36.28% increase
Profit After Tax: ₹404.14 lakh (prev. ₹241.91 lakh) - 67.06% increase
Basic EPS: ₹13.94 (prev. ₹9.33)
Paid-up Equity Share Capital: ₹389.23 lakh (prev. ₹286.03 lakh)
Total Assets: ₹5,341.62 lakh (prev. ₹2,960.12 lakh)

Successful Initial Public Offering completed during FY 2025-26
Equity shares listed on SME Platform of BSE Limited with effect from January 30, 2026
Fresh issue of 10,32,000 Equity Shares at issue price of ₹144 per share (₹10 face value + ₹134 premium)
Total proceeds raised: ₹1,486.08 lakh

Purchase of Plant & Machinery: ₹131.19 lakh utilized out of ₹379.00 lakh allocated
Prepayment/repayment of secured loans: ₹217.00 lakh fully utilized
Working Capital requirements: ₹400.00 lakh fully utilized
General Corporate Purpose: ₹222.91 lakh fully utilized
Offer Related Expenses: ₹267.17 lakh fully utilized
Unutilized amount of ₹247.81 lakh temporarily invested in fixed deposits (₹105.84 lakh) and used for interim working capital (₹141.97 lakh)
Management represented that the ₹141.97 lakh was subsequently made available before financial statement approval

Members approved alteration of Main Object Clause to include manufacture of PVC, HDPE and other polymer-based pipes, tubes, conduits, fittings
Commercial production of PVC Pipes & Fittings and HDPE Pipes & Fittings commenced at Menpura Division from January 2026

Authorized share capital remained unchanged at ₹6,00,00,000 (60,00,000 Equity Shares of ₹10 each)
Issued, subscribed and paid-up equity share capital increased from ₹2,86,02,680 to ₹3,89,22,680 due to fresh issue under IPO
Promoter holding: Vipul Bhikhabhai Solanki (51.24%), Gaurav Ratubhai Parekh (8.99%), Kinnari Vipul Solanki (3.91%)

Mr. Vipul Solanki re-appointed as Director at Ninth AGM held on September 27, 2025
Mr. Gaurav Ratukumar Parekh retires by rotation and offers himself for re-appointment at 10th AGM
Ms. Arti Ankitkumar Singh ceased as Company Secretary from April 8, 2026
Ms. Bhumi Sagar Mehta appointed as Company Secretary and Compliance Officer from April 8, 2026

M/s. SGPS & Associates resigned as Statutory Auditors effective August 24, 2026
Resignation attributed to enhanced scope and requirements post-listing, inability to agree on remuneration revision
Board appointed M/s. O. P. Rathi & Co. as Statutory Auditors from August 27, 2026 to fill casual vacancy
Proposed fees: ₹3.00 lakh for statutory audit, ₹0.50 lakh per limited review report, ₹0.50 lakh for tax audit
Appointment for five consecutive years from conclusion of 10th AGM to 15th AGM recommended

Date: September 25, 2026 at 10:00 AM
Venue: Courtyard by Marriott, Block B, Sarabhai Campus, Near Genda Circle, Alembic Road, Vadodara
Remote e-voting period: September 21, 2026 (9:00 AM) to September 24, 2026 (5:00 PM)
Cut-off date for voting eligibility: September 18, 2026

1. Adoption of Audited Financial Statements for FY 2025-26

2. Re-appointment of Mr. Gaurav Ratukumar Parekh who retires by rotation

3. Appointment of M/s. O. P. Rathi & Co. to fill casual vacancy caused by resignation of auditors

4. Appointment of M/s. O. P. Rathi & Co. as Statutory Auditors for five consecutive years

5. Enhancement of borrowing limits under Section 180(1)(c) from ₹20 Crore to ₹50 Crore

6. Creation of mortgage, charge or other security under Section 180(1)(a) for borrowings up to ₹50 Crore

7. Approval for loans, guarantees, securities and investments under Section 186 up to ₹50 Crore aggregate

Current Ratio: 1.81 (prev. 1.29)
Debt-Equity Ratio: 0.76 (prev. 1.41)
Inventory Turnover Ratio: 20.91 (prev. 10.75)
Interest Coverage Ratio: 4.33 (prev. 5.10)
Operating Profit Margin: 17.25% (prev. 21.05%)
Net Profit Margin: 10.04% (prev. 10.44%)
Return on Net Worth: 22.13% (prev. 34.91%)

Maintenance of certain inventory records on consolidated/summary basis
Difference of ₹30.85 lakh in trade receivables between books and bank statement
Certain advance tax and TDS amounts outstanding, including amounts overdue >6 months
Non-enablement of audit trail feature for direct changes to certain database tables
Non-availability of internal audit report as of report date

Statutory Auditors opined that company had adequate internal financial controls over financial reporting
Controls were operating effectively as at March 31, 2026
M/s. J A Y A M & Associates LLP appointed as Internal Auditor for FY 2026-27

Equity shares listed on SME Platform, hence corporate governance provisions under Regulations 17-27 of SEBI LODR not applicable for FY 2025-26
Net worth exceeded ₹25 crore, making Regulation 23 (related party transactions) applicable from April 1, 2026