Key Financial Figures

Financial Performance (₹ in thousands)

  • Total Income: ₹7,594.45 (FY25: ₹7,856.81)
  • Profit before Depreciation, Finance Costs, Exceptional Items and Taxation: ₹863.99 (FY25: ₹2,067.00)
  • Finance Costs: ₹2,499.71 (FY25: ₹2,292.21)
  • Depreciation: ₹83.89 (FY25: ₹92.04)
  • Loss before Tax: ₹(1,719.61) (FY25: ₹(317.25))
  • Net Loss after Tax: ₹(1,719.61) (FY25: ₹(317.25))
  • No dividend recommended for FY26

Balance Sheet Position (as at 31st March, 2026)

  • Paid-up Equity Share Capital: ₹30,004,000 (unchanged)
  • Other Equity: ₹(66,506,420) (Negative)
  • Total Equity: ₹(36,502,420) (Negative net worth)
  • Borrowings (Non-current): ₹30,015,340 (Non-cumulative redeemable preference shares)
  • Inter-corporate Deposits: ₹14,110,000 (Unsecured, considered good)
  • Cash and Cash Equivalents: ₹805,970
  • Assets Held for Sale: ₹39,563,910 (Land and buildings at Akola)

Key Financial Ratios

  • Current Ratio: 2.12 (FY25: 0.98)
  • Debt Equity Ratio: -0.82 (FY25: -0.79)
  • EBITDA Margin: 11.38% (FY25: 26.31%)
  • Net Profit Margin: -22.64% (FY25: -4.04%)
  • Return on Net Worth: -4.82% (FY25: -0.92%)

Annual General Meeting Details

  • Date: Tuesday, 4th August, 2026
  • Time: 11:00 A.M.
  • Mode: Video Conferencing/Other Audio-Visual Means
  • Book Closure: 29th July to 4th August, 2026 (both days inclusive)
  • Cut-off date for voting: 28th July, 2026

Agenda Items

Ordinary Business

1. Adoption of Audited Financial Statements for FY ended 31st March, 2026

2. Re-appointment of Shri Shekhar R Singh (DIN: 03357281) as Director retiring by rotation

Special Business

3. Appointment of Shri Shrikrushna N. Pawar (DIN: 11763684) as Non-Executive Independent Director for first term of five consecutive years from 16th June, 2026 to 15th June, 2031

Board and Committee Meetings

  • Board Meetings held during FY26: 4 (20th May 2025, 5th August 2025, 12th November 2025, 10th February 2026)
  • Audit Committee Meetings: 4
  • Nomination and Remuneration Committee Meetings: 1
  • Stakeholders Relationship Committee Meetings: 1

Director Details

Retiring Director

  • Shri Shekhar R Singh: Non-Executive Director, age 41 years, commerce graduate, law graduate, FCS with 20+ years experience in corporate laws and SEBI matters

New Appointment

  • Shri Shrikrushna N. Pawar: Proposed as Non-Executive Independent Director, age 74 years, commerce graduate, M.Com, LLB with experience in marketing and administration

Key Management Personnel

  • Smt. Fatima Fernandes: Chief Executive Officer and Chief Financial Officer
  • Smt. Kalyani Natekar: Company Secretary and Compliance Officer

Capital Structure

  • Authorized Capital: ₹131,000,000 (31,000 equity shares of ₹1,000 each + 10,000,000 preference shares of ₹10 each)
  • Issued, Subscribed and Paid-up: ₹30,004,000 (30,004 equity shares of ₹1,000 each fully paid)
  • Non-cumulative Redeemable Preference Shares: 9,000,000 shares of ₹10 each (100% held by Simplex Realty Limited)

Significant Accounting Policies and Notes

  • Going Concern: Company's net worth fully eroded due to continuous losses, but accounts prepared on going concern basis as management evaluates options
  • Assets Held for Sale: Land and buildings at Akola with carrying value ₹39.56 crore reclassified as held for sale
  • Related Party Transactions: Reimbursement of expenses with Simplex Realty Limited ₹62,540
  • Contingent Liabilities: ₹10.25 crore (Excise disputes) + ₹0.53 crore (Labour matters)
  • Employee Strength: 2 employees as of 31st March, 2026

Voting Arrangements

  • Remote e-voting period: 1st August 2026 (9:00 A.M.) to 3rd August 2026 (5:00 P.M.) through NSDL
  • Scrutinizer: Shri Binit Kumar, Practicing Company Secretary
  • Results declaration: Within 2 days of AGM on company website and NSDL platform