Financial Performance Highlights (Standalone, FY 2025-26)

  • Total Income: ₹23,509.59 Lakhs (vs. ₹16,040.73 Lakhs in FY 2024-25)
  • Profit Before Tax: ₹3,271.03 Lakhs (vs. ₹2,384.12 Lakhs in FY 2024-25)
  • Profit After Tax (PAT): ₹2,203.87 Lakhs, a 41.90% YoY increase (vs. ₹1,553.08 Lakhs in FY 2024-25)
  • EBITDA: ₹3,564.07 Lakhs, a 39.63% YoY increase (vs. ₹2,552.57 Lakhs in FY 2024-25)
  • EBITDA Margin: 15.33% (vs. 16.23% in FY 2024-25)
  • Revenue from Operations: ₹23,250.41 Lakhs, a 47.82% YoY increase (vs. ₹15,728.42 Lakhs in FY 2024-25)
  • Other Comprehensive Income (net of tax): ₹6.96 Lakhs
  • Total Comprehensive Income: ₹2,210.83 Lakhs

Segment-wise Revenue (FY 2025-26)

  • Engineering Segment: ₹18,725.13 Lakhs
  • Metal Sale (Stone Crusher) Segment: ₹4,525.28 Lakhs

Key Operational & Strategic Updates

Business Verticals Performance

  • Infrastructure Construction: Continued execution of road projects in Chandrapur District, Maharashtra (NAG 182, NAG 167, NAG 176 Road Projects).
  • New Order Secured: Nandgaon Khandeshwar Rajura-Chandur Railway Kurha Road project (49.5 km) awarded to JV M/s. SRK-SVS by Maharashtra State Infrastructure Development Corporation (MSIDC). Project value: ₹219.78 Crore.
  • Mining Segment:
  • Received Environmental Clearance (EC) from MoEF&CC (Letter dated 07th August, 2026) for Marki Mangli-IV coal mine in Yavatmal, Maharashtra (Production capacity: 0.2 MTPA).
  • Incorporated a subsidiary, Vadakhol Asoli Mining Private Limited (60% holding), on 25th April 2026 for a composite Nickel, Chromium, Cobalt, and associated mineral block project.
  • Steel Manufacturing: Applied for industrial land for a Mega Steel Project at Konsari, Gadchiroli. Maharashtra Government has assured allotment.
  • Irrigation Sector Entry: JV M/s. Adyal L.I.S. JV (Company holds 40% stake) received a work order for the Construction of Adyal Lift Irrigation Scheme under the Gosikhurd Project, Bramhapuri, Chandrapur. Order value: ₹260.53 Crore. Execution period: 33 months.
  • Equipment Leasing & Material Production: Fleet of modern construction/mining machinery operated successfully. Stone crushing unit supplied aggregates for infrastructure projects.

Investments & Subsidiaries (Post 31st March 2026)

  • Acquired 30.33% shareholding in Nag Ham 182 Highway Private Limited (Investment: ₹6.55 Crore) and Nag Ham 183 Highway Private Limited (Investment: ₹5.01 Crore). These entities became associates.
  • Vadakhol Asoli Mining Private Limited became a subsidiary effective 25th April 2026.

Capital Structure & Shareholding

  • Authorised Share Capital: ₹20.00 Crore (2,00,00,000 Equity Shares of ₹10 each)
  • Paid-up Equity Share Capital as of 31/03/2026: ₹9.75 Crore (97,48,500 Equity Shares of ₹10 each)
  • Increase in Capital: Increased from ₹8.40 Crore (84,00,000 shares) due to allotment of equity shares upon conversion of convertible warrants issued on a preferential basis to non-promoters on 11th March 2026 and 27th March 2026.
  • Subsequent Event (Post 31/03/2026): Paid-up capital further increased to ₹10.40 Crore (1,03,99,000 shares) due to further allotment from warrant conversions on 13th July 2026.
  • Shareholding Pattern (31/03/2026): Promoter & Promoter Group: 64.62%, Public Institutions: 13.83%, Public Non-Institutions: 21.54%.
  • Dematerialization: 86.03% of shares were held in demat form.

Dividend & Reserves

  • Dividend: No dividend recommended for FY 2025-26.
  • Reserves: No amount transferred to reserves during the year.

Annual General Meeting (AGM) Details

  • 42nd AGM Date: Tuesday, 29th September 2026
  • Time: 11:30 A.M. (IST)
  • Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • E-Voting Period: 26th September 2026 (9:00 AM) to 28th September 2026 (5:00 PM)
  • Record Date: 22nd September 2026
  • Business to be Transacted:

1. Adoption of Audited Standalone Financial Statements for FY 2025-26.

2. Re-appointment of Mrs. Sonal Kirtikumar Bhangdiya (DIN: 03416775), who retires by rotation.

3. Special Business:

  • Ratification of remuneration of Cost Auditor, M/s L M A & Associates (₹55,000 + taxes).
  • Appointment of Mrs. Aarti Shrikant Bhangdiya (DIN: 03407301) as a Non-Executive Non-Independent Director.
  • Approval for payment of remuneration to Non-Executive Directors (not exceeding 1% of net profits per annum for 3 years starting FY 2026-27).
  • Approval for charging fees for physical document delivery to shareholders.

Corporate Governance & Management

  • Board of Directors: Comprises 4 directors (1 Managing Director, 1 Non-Executive Non-Independent, 2 Non-Executive Independent).
  • Key Managerial Personnel: Mr. Shrikant Mitesh Bhangdiya (MD), Mr. Anil Khawale (CFO), Ms. Shalinee Singh (CS & Compliance Officer).
  • Registered Office Changed to: U.N.-1916, 19th Floor, One Lodha Place, Senapati Bapat Marg, Lower Parel, Mumbai – 400013.
  • Corporate Office: 526, 1st Floor, Bhangdiya House, Near Getwell Hospital, Dhantoli, Nagpur-440012.
  • Statutory Auditors: M/s. Joshi & Shah, Chartered Accountants (Firm Reg. No. 144627W). Re-appointed till the 46th AGM.
  • Internal Auditors: M/s. Ashish Mittal & Associates, Chartered Accountants.
  • Secretarial Auditors: M/s. PDTS & Associates, Company Secretaries.
  • RTA: M/s. Purva Sharegistry (I) Private Limited.

CSR (Corporate Social Responsibility)

  • Prescribed CSR Expenditure (2% of avg. net profit): ₹35.98 Lakhs
  • CSR Amount Spent during FY 2025-26: ₹27.00 Lakhs
  • Unspent CSR Amount for FY 2025-26: ₹8.98 Lakhs (To be spent within 3 years)
  • CSR Activities: Focused on Art & Cultural Promotion, Girl Child Birth Promotion, Women Empowerment Programme. Donations made to Bhangdiya Foundation.

Material Orders & Commitments

  • Environmental Clearance: Received from MoEF&CC for Marki Mangli-IV coal mine (07th August 2026).
  • No significant material orders were passed by regulators/courts impacting the going concern status.

Related Party Transactions (RPTs)

  • All RPTs were conducted at arm's length and in the ordinary course of business.
  • Members approved material RPTs with MKS Constro-Venture Private Limited via postal ballot:
  • For FY 2025-26: Aggregate value up to ₹250 Crore.
  • For FY 2026-27: Aggregate value up to ₹375 Crore (₹300 Cr for sale of goods/services, ₹75 Cr for advancing loans).
  • Detailed RPT disclosures are provided in Form AOC-2 (Annexure-II of Directors' Report).

Risk Management

  • The company has a Risk Management Policy to identify and mitigate risks in different operational areas.
  • Key risks identified include regulatory compliance, competition, financial risks (interest rate, currency), political/legal risks, technology obsolescence, workforce retention, and operational risks (project delays, supply chain).

Forward-Looking Statements

The document contains forward-looking statements based on current expectations and assumptions. Actual results may differ due to various risks, uncertainties, and other factors. The company undertakes no obligation to update these statements.