Detailed Summary

Financial Results Approval

The Board approved the Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report issued by SDBA & Co., Chartered Accountants, in accordance with Regulation 33 of SEBI LODR.

Standalone Financial Results (Rs. in lakhs)

  • Revenue from operations: 117.83 (Q1 FY27) vs 595.20 (Q1 FY26) vs 2,103.65 (FY26)
  • Other Income: 0.29 (Q1 FY27) vs 68.85 (Q1 FY26) vs 89.65 (FY26)
  • Total Income: 118.12 (Q1 FY27) vs 664.05 (Q1 FY26) vs 2,193.30 (FY26)
  • Total Expenses: 112.30 (Q1 FY27) vs 634.41 (Q1 FY26) vs 2,115.22 (FY26)
  • Profit before tax: 5.82 (Q1 FY27) vs 29.64 (Q1 FY26) vs 78.08 (FY26)
  • Tax Expense: (1.52) [Current tax: (0.51), Deferred tax: (1.01)] (Q1 FY27)
  • Net Profit: 4.30 (Q1 FY27) vs 29.91 (Q1 FY26) vs 71.21 (FY26)
  • Earnings per share (Basic/Diluted): ₹0.01 (Q1 FY27) vs ₹0.36 (Q1 FY26) vs ₹0.70 (FY26)
  • Paid-up equity share capital: ₹433.55 lakhs (face value ₹1)

The financial results were reviewed by the Audit Committee and approved by the Board. The Statutory Auditors conducted a Limited Review and expressed an unqualified review opinion.

Consolidated Financial Results (Rs. in lakhs)

  • Total Income: 5,661.42 (Q1 FY27)
  • Total Expenses: 5,385.18 (Q1 FY27)
  • Profit before tax: 235.70 (Q1 FY27)
  • Net Profit: 154.47 (Q1 FY27)
  • Earnings per share (Basic/Diluted): ₹0.36 (Q1 FY27)

The consolidated results include subsidiary Fishfa Rubbers Ltd., which contributed revenues of ₹5,539.35 lakhs and net profit of ₹150.18 lakhs for the quarter.

Segment Information (Consolidated, Q1 FY27)

  • Rubber Products: Revenue ₹5,543.32 lakhs, Profit ₹366.65 lakhs
  • Polished diamonds & Jewellery: No revenue reported
  • Real estate & development: No revenue reported

Auditor Resignation and Appointment

  • SDBA & Co. resigned as Statutory Auditors effective August 14, 2026, due to expiry of their second consecutive tenure (appointed July 30, 2021).
  • The auditors confirmed no concerns or issues were raised, and the resignation was solely due to tenure expiry.
  • Appointed Mr. Manojkumar Maganlal Finva, Proprietor of M/s. Finava and Associates, Chartered Accountants (Firm Registration No. 117362W), as new Statutory Auditors effective August 14, 2026, for a term of 5 years subject to shareholder approval.

Internal Auditor Appointment

  • Appointed Mr. CA Krunal Pala, proprietor of M/S K R Pala & Associates (Firm registration number: 146113W), as Internal Auditor for FY 2026-2027 effective August 13, 2026.

Management Appointments

  • Chief Executive Officer: Appointed Mr. Prashant Kanjibhai Kalavadia (DIN: 02170444) effective August 13, 2026. He is the brother of Managing Director Pintu Kanjibhai Kalavadia.
  • Chairperson and Additional Non-Executive Non-Independent Director: Appointed Mr. Umang Kantilal Savani (DIN: 02952950) subject to shareholder approval. He is a promoter relative.
  • Additional Non-Executive Independent Director: Appointed Mr. Ronak Vallabhbhai Kalathiya (DIN: 07679394) for 5 years effective August 13, 2026, subject to shareholder approval.
  • Additional Non-Executive Independent Woman Director: Appointed Mrs. Mayuri Priyankkumar Savani (DIN: 07653293) for 5 years effective August 13, 2026, subject to shareholder approval.

Committee Reconstitution

Audit Committee:

  • Ekta Ankur Dholakia (Chairperson)
  • Ronak Vallabhbhai Kalathiya (Member)
  • Pintu Kanjibhai Kalavadia (Member)

Stakeholders Relationship Committee:

  • Mayuri Priyankkumar Savani (Chairperson)
  • Ekta Ankur Dholakia (Member)
  • Ronak Vallabhai Kalathiya (Member)

Nomination and Remuneration Committee:

  • Ronak Vallabhbhai Kalathiya (Chairperson)
  • Ekta Ankur Dholakia (Member)
  • Mayuri Priyankkumar Savani (Member)

Property Sale Transaction

  • Cancelled previous shareholder-approved property sale to Dudhat Ashvin Himmatbhai (passed via postal ballot on July 3, 2026) as the buyer was unable to complete the transaction.
  • Approved new proposal to sell company-owned land at Kosmada, Taluka-Kamrej, Surat, to existing promoter Mr. Savjibhai Dungarshibhai Patel for consideration not less than ₹1,41,00,000, subject to shareholder and other approvals.
  • The transaction is considered a related party transaction at arm's length and expected to be completed within 12 months from shareholder approval.

Director Resignations

  • Accepted resignation of Mr. Pragnesh Kishorbhai Sonchhatra (DIN: 11605316) as Independent Director due to pre-occupation, effective August 13, 2026 (after business hours).
  • Accepted resignation of Mr. Maulik Pravinbhai Dalsaniya (DIN: 11409312) as Independent Director due to pre-occupation, effective August 13, 2026 (after business hours).
  • Both directors confirmed no material reasons other than pre-occupation.

Meeting Details

The Board meeting commenced at 3:30 PM and concluded at 8:00 PM on August 13, 2026.