Date: 29.05.2026

KMP / Board / Auditor Changes

Mrs. Deepa Jayeshbhai Shah

  • Re-appointment as director liable to retire by rotation
  • Effective date: Subject to shareholder approval at AGM on 25.06.2026
  • Relationship: Wife of Mr. Jayesh Chhabildas Shah (Managing Director) and mother of Mr. Harshil Jayeshbhai Shah (Director)
  • Experience: 25 years in finance
  • Qualifications: Post Graduate
  • Current directorships: SKSE Securities Limited
  • Board meetings attended in FY2025-26: 15
  • Remuneration last drawn: ₹43,20,000
  • Shares held: 10,01,900 shares as of 31st March 2026

Mrs. Tanishka Anilbhai Dhamejani

  • Appointment as Non-Executive Independent Director
  • Effective date: Subject to shareholder approval
  • DIN: 11317808, Age: 32 years
  • Education: CS, BBA
  • Expertise: Secretarial Audits, Legal Due Diligence, Compliance Reviews, Monitoring and Corporate Governance
  • Not related to any other Director/Key Managerial Personnel
  • Current directorships: Vishwas Consumer Refoils & Limited (Independent Director)
  • Committee memberships: Stakeholder relationship committee and Nomination and remuneration committee at Vishwas Consumer Refoils & Limited

Mr. Suresh Somnath Dave

  • Re-appointment as Non-Executive Independent Director for second term
  • Effective date: 10.11.2026 (subject to shareholder approval)
  • DIN: 08111653, Age: 92 years
  • Education: CS
  • Expertise: More than 35 years in corporate and other laws
  • Remuneration last drawn: ₹65,000 (including sitting fees)
  • Not related to any other Director/Key Managerial Personnel
  • Current directorships: Enn Enn Corp Limited (Independent Director), A-1 Limited (Independent Director)
  • Committee memberships: Member in Audit committee at Enn Enn Corp Limited

Internal Auditor Appointment

  • M/s. Dipesh Bhoot & Co. appointed as Internal Auditor for FY2026-27
  • Effective date: 29.05.2026
  • Address: A-40, Hirji Mistry Ancillary Bhavan, 1st floor, GIDC, Shankar Tekri, Udhyognagar, Jamnagar-361004
  • Experience: Statutory and Tax Audit, Auditing & Assurance, Income Tax returns of Companies, Firms & individuals, Internal Audit

Remuneration Approval

  • Approved remuneration of Harshil Jayeshbhai Shah, Non-executive director, subject to shareholder approval

Scrutinizer Appointment

  • Approved appointment of Ms. Dhara Patel as Scrutinizer for 25th Annual General Meeting

Board Meeting Outcomes

The Board meeting held on 29th May 2026 (4:00 PM to 5:15 PM) approved:

1. Audited Standalone financial results for quarter and year ended 31st March 2026

2. Director report for FY 2025-26 and annexure

3. Secretarial Audit report for FY 2025-26

4. Re-appointment of Mrs. Deepa Jayeshbhai Shah as director

5. Related party transactions subject to shareholder approval

6. Appointment of Mrs. Tanishka Anilbhai Dhamejani as Non-executive independent director

7. Re-appointment of Mr. Suresh Somnath Dave as Non-executive independent director for second term

8. Appointment of M/s. Dipesh Bhoot & Co. as Internal Auditor for FY2026-27

9. Remuneration of Harshil Jayeshbhai Shah, Non-executive director

10. Notice of 25th Annual General Meeting to be held on 25th June 2026 at 4:30 PM through Video Conference/Other Audio-Visual means

11. Appointment of Ms. Dhara Patel as Scrutinizer for AGM

Financial Results (Standalone)

Quarter Ended March 31, 2026 (Audited)

  • Revenue from Operations: ₹636.52 lakhs (₹636.52 million)
  • Net sales/Income from Operations: ₹636.10 lakhs
  • Other operating Income: ₹0.42 lakhs
  • Total Expenses: ₹586.47 lakhs
  • Cost of Materials Consumed: ₹68.17 lakhs
  • Purchase of Stock-in-trade: ₹486.92 lakhs
  • Change in inventories: (₹22.43) lakhs
  • Employees benefit expenses: ₹18.69 lakhs
  • Depreciation and amortisation: ₹6.55 lakhs
  • Other Expenses: ₹28.57 lakhs
  • Profit from Operations before other income: ₹50.06 lakhs
  • Other Income: (₹0.76) lakhs
  • Finance Costs: ₹6.41 lakhs
  • Profit before tax: ₹42.88 lakhs
  • Tax Expenses: ₹13.92 lakhs
  • Current Tax: ₹13.80 lakhs
  • Deferred Tax: ₹0.12 lakhs
  • Net Profit after tax: ₹28.96 lakhs
  • Other Comprehensive Income: (₹4.43) lakhs
  • Total Comprehensive Income: ₹24.53 lakhs
  • EPS (Basic & Diluted): ₹0.72

Year Ended March 31, 2026 (Audited)

  • Revenue from Operations: ₹1,709.94 lakhs (₹1,709.94 million)
  • Net sales/Income from Operations: ₹1,707.64 lakhs
  • Other operating Income: ₹2.30 lakhs
  • Total Expenses: ₹1,593.95 lakhs
  • Cost of Materials Consumed: ₹331.35 lakhs
  • Purchase of Stock-in-trade: ₹1,104.52 lakhs
  • Change in inventories: (₹38.07) lakhs
  • Employees benefit expenses: ₹64.68 lakhs
  • Depreciation and amortisation: ₹27.80 lakhs
  • Other Expenses: ₹103.68 lakhs
  • Profit from Operations before other income: ₹115.99 lakhs
  • Other Income: ₹7.16 lakhs
  • Finance Costs: ₹20.84 lakhs
  • Profit before tax: ₹102.30 lakhs
  • Tax Expenses: ₹29.08 lakhs
  • Current Tax: ₹29.50 lakhs (including prior year adjustment of ₹0.37 lakhs)
  • Deferred Tax: (₹0.58) lakhs
  • Net Profit after tax: ₹73.22 lakhs
  • Other Comprehensive Income: ₹11.60 lakhs
  • Total Comprehensive Income: ₹84.82 lakhs
  • EPS (Basic & Diluted): ₹1.83

Comparative Figures (Year Ended March 31, 2025 - Audited)

  • Revenue from Operations: ₹1,041.39 lakhs
  • Net Profit after tax: ₹63.33 lakhs
  • Total Comprehensive Income: ₹63.33 lakhs
  • EPS (Basic & Diluted): ₹1.58

Financial Position as at March 31, 2026

  • Paid-up equity share capital: ₹2,001.60 lakhs (Face Value of ₹5 each)
  • Reserves: ₹3,914.67 lakhs
  • Total Assets: ₹11,486.30 lakhs
  • Total Liabilities: ₹4,338.55 lakhs

Cash Flow Statement for Year Ended March 31, 2026

  • Cash Generated from Operations: ₹862.56 lakhs
  • Taxes Paid: ₹222.79 lakhs
  • Net Cash Flow from Operating Activities: ₹639.77 lakhs
  • Net Cash Flow from Investing Activities: (₹725.64) lakhs
  • Net Cash Flow from Financing Activities: ₹75.13 lakhs
  • Net Decrease in Cash: (₹14.94) lakhs
  • Closing Cash Balance: ₹22.88 lakhs

Annual General Meeting

  • 25th Annual General Meeting scheduled for Thursday, 25th June 2026 at 4:30 PM
  • Meeting to be held through Video Conference/Other Audio-Visual means
  • Cutoff date for identifying shareholders: 18th June 2026
  • Register of Members and Share Transfer Books shall remain closed from 19th June 2026 to 25th June 2026 (both days inclusive)

Other Disclosures

  • Investor complaints: Nil pending at start, received during, disposed during, and pending at end of quarter
  • Business segment: Manufacturing & Sale of Horological items, Clocks, Clock Movements and related items (single reportable segment)
  • Geographical segment: India (only one geographical segment)
  • The company received certificates of compliance with Code of Conduct, non-disqualification of directors, and corporate governance compliance from relevant parties