Key Financial Figures (₹ in Lakhs)

  • Revenue from operations: ₹1,386.08 (FY26) vs ₹1,330.74 (FY25)
  • Other Income: ₹153.30 (FY26) vs ₹345.90 (FY25)
  • Total Revenue: ₹1,539.38 (FY26) vs ₹1,676.64 (FY25)
  • Total Expenses: ₹2,097.51 (FY26) vs ₹3,028.10 (FY25)
  • Loss before exceptional items and tax: (₹558.13) (FY26) vs (₹1,351.69) (FY25)
  • Exceptional items (gain): (₹249.51) (FY26) vs (₹86) (FY25)
  • Loss before tax: (₹807.64) (FY26) vs (₹1,437.69) (FY25)
  • Net Loss for the period: (₹807.64) (FY26) vs (₹1,437.69) (FY25)
  • Other Comprehensive Income: (₹31.67) (FY26) vs ₹29.32 (FY25)
  • Total Comprehensive Loss: (₹839.31) (FY26) vs (₹1,408.37) (FY25)

Share Capital Changes

  • Authorized Share Capital: Increased from ₹34.50 crore to ₹47.50 crore during FY26
  • Paid-up Share Capital: Increased by ₹12.73 crore through:
  • Preferential issue of 81.25 lakh equity shares at ₹13.25/share for cash consideration
  • Preferential issue of 46.00 lakh equity shares at ₹13.25/share against conversion of unsecured loans
  • Current Paid-up Capital: ₹40.73 crore (4,07,37,301 equity shares of ₹10 each)
  • Preference Shares: 1,70,000 Non-Convertible Cumulative Redeemable Preference Shares of ₹100 each (11% dividend), classified as financial liability

AGM Details

  • 46th Annual General Meeting: September 29, 2026 at 2:00 PM through Video Conference/OAVM
  • Ordinary Business:
  • Adoption of financial statements for FY 2025-2026
  • Re-appointment of Mr. Vikas Ladia (DIN: 00256289) as Managing Director retiring by rotation
  • Special Business:
  • Special Resolution under Section 180(1)(a) to authorize Board for sale/lease/transfer/development of company undertakings/assets
  • Ordinary Resolution for ratification of Cost Auditor remuneration of ₹20,000 plus taxes for FY 2026-2027

Board of Directors

  • Mr. Vikas Ladia: Managing Director & CEO (DIN: 00256289)
  • Mr. Anubhav Ladia: Whole Time Director & CFO (DIN: 00168312)
  • Mr. Rajiv Sharma: Independent Director (DIN: 01342224)
  • Mrs. Manju Datta: Independent Director (re-appointed w.e.f. March 17, 2026) (DIN: 09010395)
  • Mr. Sandeep Kumar Jain: Independent Director (re-appointed w.e.f. August 12, 2026) (DIN: 01116047)

Key Managerial Personnel Changes

  • Mr. Rahul Bolia: Resigned as Company Secretary & Compliance Officer on December 24, 2025
  • Mrs. Soniya Mundra: Appointed as Company Secretary & Compliance Officer w.e.f. December 27, 2025

Dividend

No dividend recommended for FY 2025-2026 due to losses incurred

Operational Highlights

  • Production: 1234.71 MT of yarn valued at ₹1,386.08 lakhs (FY25: 1064.52 MT valued at ₹1,330.74 lakhs)
  • No exports during the year
  • Employee strength: 55 as of March 31, 2026 (54 as of April 1, 2025)
  • Solar Plant: 1 MW solar plant commissioned in May 2026 for captive consumption

Auditor Reports

  • Statutory Auditors: M/s. Doogar & Associates, Chartered Accountants (FRN: 000561N)
  • Emphasis on material uncertainty regarding going concern (Note 41)
  • Management believes going concern appropriate post-PPIRP resolution and equity infusion
  • Cost Auditors: M/s. K.G. Goyal & Co., Cost Accountants (FRN: 000017)
  • Remuneration of ₹20,000 plus taxes for FY 2026-2027 requires shareholder ratification
  • Secretarial Auditors: M/s. HM & Associates, Company Secretaries
  • No qualifications except SEBI penalty disclosure

Key Ratios

  • Current Ratio: 0.66 (FY26) vs 0.18 (FY25)
  • Debt Equity Ratio: 0.66 (FY26) vs -13.90 (FY25)
  • Net Profit Ratio: (58.27%) (FY26) vs (108.04%) (FY25)
  • Return on Capital Employed: (63.89%) (FY26) vs (131.98%) (FY25)

Contingent Liabilities

All contingent liabilities extinguished as per NCLT-approved Resolution Plan (dated August 22, 2023) under Pre Package Insolvency Resolution Process (PPIRP)

Related Party Transactions

All transactions conducted at arm's length basis. Details provided in Form AOC-2 (Annexure 2)

Going Concern Emphasis

Auditors highlighted material uncertainty due to accumulated losses of ₹3,313.35 lakhs and current liabilities exceeding current assets by ₹307.31 lakhs. Management believes going concern appropriate due to:

  • Successful completion of PPIRP
  • Positive net worth achieved
  • Significant reduction in current liabilities
  • Equity capital raised through preferential issue
  • 1 MW solar plant reducing operational costs

Voting Arrangements for AGM

  • Remote e-voting period: September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)
  • Cut-off date for voting rights: September 22, 2026
  • Scrutinizer: Mr. Himanshu Surendrakumar Gupta of M/s. Himanshu S K Gupta & Associates

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