Comprehensive Financial and Corporate Update

Simplex Realty Limited disclosed its audited financial results for FY 2025-26 and convened its 113th Annual General Meeting scheduled for August 5, 2026 via Video Conferencing. The company reported a significant deterioration in performance, with a net loss of ₹374.87 lakhs compared to a profit of ₹130.09 lakhs in the previous year, primarily due to reversal of Deferred Tax Assets arising from lapse of brought-forward losses.

Financial Performance Highlights

Revenue & Profitability:

  • Total Income: ₹1,577.18 lakhs (Previous year: ₹1,259.97 lakhs)
  • Loss before tax: ₹47.36 lakhs (Previous year: Profit of ₹159.49 lakhs)
  • Net Loss: ₹374.87 lakhs (Previous year: Net Profit of ₹130.09 lakhs)
  • EPS: ₹(12.06) (Previous year: ₹4.40)

Key Financial Position Changes:

  • Inventories increased to ₹3,917.61 lakhs with realty stock-in-trade substantially increasing to ₹1,549.73 lakhs
  • Cash and cash equivalents decreased to ₹96.18 lakhs from ₹346.32 lakhs
  • Investments portfolio showed significant shifts with current investments in mutual funds at ₹228.47 lakhs
  • Deferred tax assets reduced to net ₹40.67 lakhs from ₹368.27 lakhs

AGM and Corporate Governance Matters

The 113th AGM will consider several important resolutions including:

  • Adoption of FY26 financial statements
  • Re-appointment of Nandan Damani as Chairman & MD and Sanjay Damani as Joint MD for three-year terms
  • Appointment of new directors Geeta Prabhakaran and Sita Sunil
  • Revision in remuneration for Whole-time Director Sandhya Kini

Significant Contingent Liabilities

The company faces substantial contingent liabilities including:

  • Income tax disputes: ₹1,888.03 lakhs (₹247.80 lakhs where Company is in appeal, ₹1,640.23 lakhs where Department is in appeal)
  • State Revenue Department demand: ₹1,715.65 lakhs for transfer permission of flats (stayed by Bombay High Court)
  • MCGM property tax demand: ₹4,878.03 lakhs plus ₹2,355.60 lakhs penalty (50% deposited pursuant to court order)
  • Associate company contingencies: ₹1,818.61 lakhs primarily from Central Excise disputes

Subsidiaries and Associates Update

  • Subsidiary: Simplex Modern Homes Private Limited (51% shareholding)
  • LLP: Simplex Dream Homes LLP (99% contribution, incorporated February 2026)
  • Associates: Simplex Mills Company Limited (reported loss of ₹17.20 lakhs) and Simplex Papers Limited (reported loss of ₹11.38 lakhs)

Project Status and Business Focus

  • Project "Simplex KhushAangan" completed and handed over
  • Project 'Casas-Na-Colina' (4 villas in Goa) completed and ready for sale
  • Development Agreement transferred to Simplex Modern Homes Private Limited
  • Company continues consolidation and exploring opportunities in residential and commercial property development

Corporate Actions

  • No dividend recommended for FY26 to conserve resources for working capital requirements
  • No change in share capital during the year
  • Board comprises 3 Executive Directors and 4 Non-Executive Directors with proper governance structure

Shareholding Pattern

  • Promoter & Promoter Group: 55.12% (16,48,427 shares)
  • Public Shareholding: 44.88% with Institutions holding 15.08%
  • Major shareholders include Lucky Vyapaar and Holdings Pvt. Ltd. (24.84%) and New Textiles LLP (20.10%)

The company maintains adequate internal financial controls and all related party transactions were conducted on arm's length basis. The financial statements were approved by the Board of Directors on May 20, 2026.