Financial Performance Summary

FY 2023-24 Financial Highlights:

  • Revenue from Operations: ₹0.00 (same as FY 2022-23)
  • Other Income: ₹9,30,734.79 (down from ₹1,26,89,869.52 in FY 2022-23)
  • Total Expenses: ₹64,887.56 (down from ₹62,71,720.90 in FY 2022-23)
  • Profit Before Tax: ₹8,65,847.23 (down from ₹64,18,148.62 in FY 2022-23)
  • Profit After Tax: ₹8,65,847.23 (down from ₹64,18,148.62 in FY 2022-23)
  • Basic & Diluted EPS: ₹0.09 (down from ₹0.63 in FY 2022-23)
  • Paid-up Equity Share Capital: ₹10,16,13,000

Key Financial Ratios:

  • Current Ratio: 0.7 (0.56 in FY 2022-23)
  • Debt Equity Ratio: 0.454 (0.457 in FY 2022-23)
  • Return on Net Worth: 0.71% (5.28% in FY 2022-23)

Operational Status

The Company did not earn any revenue from operations during FY 2023-24, continuing operational dormancy from previous years. The net profit of ₹8.65 lakh was solely from non-operational investment gains (Long-Term Capital Gains: ₹8,80,766.79, Short-Term Capital Gains: ₹48,319.00, Dividend Income: ₹1,649.00).

Annual General Meeting Details

31st AGM Date: August 29, 2026 at 1:30 PM

Mode: Video Conference (VC) or Other Audio Visual Means (OAVM)

Record Date: August 21, 2026

Remote e-Voting Period: August 26, 2026 (9:00 AM) to August 28, 2026 (5:00 PM)

Agenda Items:

1. Adoption of audited standalone financial statements for FY ended March 31, 2024

2. Appointment of Mr. Kiran Bhogate (DIN: 07844152) as Executive Director liable to retire by rotation

Board of Directors Composition

  • Executive Director: Kiran Vitthal Bhogate (DIN: 07844152)
  • Non-executive Independent Directors: Prajakta Ashok Patil, Sidu Mahadev Jambhale (DIN: 08549263)

Statutory Auditors

Mulraj D Gala & Co, Chartered Accountants (Firm Registration No. 0145406W), appointed until conclusion of AGM for FY 2025-2026.

Secretarial Audit Findings

Neha Anup Poddar (COP No. 26322) conducted secretarial audit with significant observations:

  • Non-availability of certain statutory records and documents
  • Delays in statutory filings with MCA and SEBI
  • Deficiencies in board and committee composition compliance
  • Non-compliance with Secretarial Standards and SEBI LODR Regulations
  • Historical non-compliances since FY 2017-18

Compliance Issues

The Company faces significant compliance challenges due to MCA portal lockout that prevented:

  • Electronic filing of forms since FY 2017-18
  • Holding AGMs since 2018
  • Regularization of director appointments on digital records

Capital Structure Impact

No change in share capital during FY 2023-24. Paid-up equity share capital remains at ₹10,16,13,000 (10,161,300 equity shares of ₹10 each).

Cash Flow Implications

  • Net Cash from Operating Activities: (₹3,19,926)
  • Net Cash from Investing Activities: ₹2,99,884
  • Net Cash from Financing Activities: ₹20,000
  • Net Change in Cash: (₹42)
  • Cash & Bank Equivalents as of March 31, 2024: ₹5,31,753.44

Contingent Liabilities

No contingent liabilities reported as of March 31, 2024.

Related Party Transactions

No material related party transactions requiring disclosure under Section 134(3)(h) of Companies Act, 2013 and Regulation 23 of SEBI LODR Regulations.

Internal Financial Controls

The Company maintains internal financial controls commensurate with its size and scale, though focused on asset preservation and minimal cost oversight during operational dormancy.

Forward-Looking Statements

The Board acknowledges the operational challenges and is actively working with ROC Ahmedabad for backend regularization of MCA records, after which pending AGMs and statutory filings will be completed.