Key Financial Figures

Financial Performance (FY 2022-23 vs FY 2021-22):

  • Revenue from operations: ₹0.00 (same as previous year)
  • Other income: ₹1,26,89,869.52 (up from ₹10,20,162.63)
  • Total income: ₹1,26,89,869.52 (up from ₹10,20,162.63)
  • Total expenses: ₹62,71,720.90 (up from ₹24,24,188.34)
  • Profit/(loss) before tax: ₹64,18,148.62 profit (vs ₹(14,04,025.71) loss)
  • Profit/(loss) after tax: ₹64,18,148.62 profit (vs ₹(14,04,025.71) loss)
  • Basic and diluted EPS: ₹0.63 (vs ₹(0.14))

Breakdown of Other Income:

  • Long-term capital gains: ₹1,24,66,752.31
  • Short-term capital gains: ₹2,20,666.76
  • Dividend income: ₹2,450.45

Balance Sheet Highlights (as at 31st March 2023):

  • Share capital: ₹10,16,13,000.00 (unchanged)
  • Reserves and surplus: ₹1,99,69,716.12 (up from ₹1,35,51,567.50)
  • Long-term borrowings: ₹5,55,92,023.20 (up from ₹3,05,92,023.20)
  • Current liabilities: ₹59,24,271.52
  • Long-term loans and advances: ₹17,97,64,410.93
  • Current investments: ₹6,34,321.35 (down from ₹1,88,49,661.17)
  • Cash and bank balances: ₹5,31,795.80

Key Ratios

  • Current ratio: 0.56 (down from 3.39)
  • Debt equity ratio: 0.457 (up from 0.265)
  • Return on net worth: 5.28% (up from -1.22%)

Annual General Meeting Details

  • 30th AGM to be held on Saturday, August 29, 2026 at 01:00 pm
  • Through Video Conferencing/Other Audio Visual Means
  • Ordinary business includes:
  • Adoption of audited standalone financial statements for FY ended March 31, 2023
  • Appointment of Mr. Kiran Bhogate (DIN: 07844152) as Executive Director liable to retire by rotation

Board and Committee Composition

Board of Directors:

  • Mr. Kiran Bhogate, Executive Director (DIN: 07844152)
  • Mrs. Prajakta Ashok Patil, Non-executive Independent Director
  • Mr. Sidu Mahadev Jambhale, Non-executive Independent Director

Statutory Auditors:

Mulraj D Gala & Co, Chartered Accountants (Firm Registration No. 0145406W)

Board Meetings:

6 meetings held during FY 2022-23 on: 1.4.2022, 13.7.2022, 15.9.2022, 2.11.2022, 15.01.2023, 1.3.2023

All directors attended all meetings

Committee Composition:

  • Audit Committee: Sidu Mahadev Jambhale (Chairman), Prajakta Kunal Save, Kiran Bhogate
  • Nomination and Remuneration Committee: Sidu Mahadev Jambhale (Chairman), Prajakta Kunal Save, Kiran Bhogate
  • Stakeholders Relationship Committee: Sidu Mahadev Jambhale (Chairman), Prajakta Kunal Save, Kiran Bhogate

Compliance and Regulatory Issues

  • Company faced MCA portal technical issues preventing digital filings
  • Trading in equity shares suspended on BSE and MSEI
  • Annual listing fees pending payment to stock exchanges
  • Secretarial audit report identified non-compliances with Companies Act 2013 and SEBI LODR Regulations
  • Company is in process of regularizing pending statutory compliances and filings

Other Material Information

  • No dividend recommended for FY 2022-23
  • No material changes in nature of business
  • No subsidiary companies
  • No material related party transactions
  • No deposits accepted during the year
  • No significant orders passed by regulators or courts
  • No fraud reported by statutory auditors
  • No applications under Insolvency and Bankruptcy Code, 2016
  • Company has no female employees (Maternity Benefit Act not applicable)

Corporate Governance

  • Company has established vigil mechanism/whistle-blower policy
  • No complaints of sexual harassment received during the year
  • Board carried out annual performance evaluation
  • Company has adopted nomination and remuneration policy