Key Financial Figures (All amounts in ₹ lakhs unless specified)
- Total Income: ₹53.96 lakh (FY25: ₹53.90 lakh)
- Expenses: ₹21.38 lakh (FY25: ₹26.47 lakh)
- EBITDA: ₹32.58 lakh (FY25: ₹28.58 lakh)
- Profit Before Tax (PBT): ₹32.58 lakh (FY25: ₹27.43 lakh)
- Tax Expense: ₹5.08 lakh (FY25: ₹4.28 lakh)
- Net Profit: ₹27.50 lakh (FY25: ₹23.15 lakh)
- Earnings Per Share (EPS): ₹0.37 (FY25: ₹0.31)
- Number of Equity Shares: 73,59,200 shares of ₹10 each (unchanged from previous year)
- Share Capital: ₹735.92 lakh
- Loans and Advances: ₹638.60 lakh (FY25: ₹610.07 lakh)
- Cash and Cash Equivalents: ₹3.11 lakh (FY25: ₹8.47 lakh)
- Total Assets: ₹708.82 lakh (FY25: ₹690.40 lakh)
Operational Highlights
The company has no commercial operations and generates income primarily from interest on retained earnings. During FY25-26, it earned ₹53.96 lakh as interest income, resulting in a net profit of ₹27.50 lakh. The company was originally incorporated for manufacturing rubberized coir products but has been non-operational due to market changes.
Director Changes and Board Composition
- Ms. Santhi (DIN: 07145742) completed her term as Woman Independent Director on 31st March 2025.
- Mrs. K. Ashitha (DIN: 07233606) was appointed as Additional Director and Independent Director for 5 years effective 12th August 2025 to 11th August 2030.
- Shareholders approved Mrs. Ashitha's appointment at the 36th Annual General Meeting held on 10th September 2025.
- The Board consists of Mr. N. Neelakanda Pillai (Managing Director), Mr. V K Balaji (Non-Executive & Independent Director), Mrs. K. Ashitha (Woman Director), and Mr. Muralikrishnan (Non-Executive & Non-Independent Director).
Managerial Remuneration
- Managing Director: Nil remuneration
- Independent Directors: Nil remuneration
- Company Secretary: ₹7,10,000
- Chief Financial Officer: Nil remuneration
- Number of permanent employees: 4 as of 31st March 2026
Dividend Declaration
No dividend was recommended for FY25-26 to conserve company resources.
Auditor Appointments and Remarks
Statutory Auditors: M/s Balaji & Thulasiraman, Chartered Accountants, appointed for 5 years from FY2023-24 to 2027-28.
Secretarial Auditors: M/s SPAN & Co., Company Secretaries LLP, appointed for 5 years from FY2025-26 to 2029-30.
Auditor Qualifications:
1. The company has granted loans/advances of ₹6.39 crore either repayable on demand or without specifying repayment terms (Schedule iii(f)).
2. Income tax arrears outstanding for more than six months totaling ₹87.20 lakh:
- ₹64.56 lakh for AY 2011-12 (due since 31-Oct-2012)
- ₹0.50 lakh for AY 2019-20 (due since 31-Oct-2020)
- ₹0.94 lakh for AY 2021-22 (due since 31-Oct-2022)
- ₹22.10 lakh for AY 2009-10 (partially paid ₹3.71 lakh on 06-Mar-2026, balance pending)
Secretarial Audit Adverse Remark: The company did not intimate the stock exchange about the vacancy arising from the completion of Mrs. Santhi's tenure as Woman Independent Director.
Corporate Governance
The company is exempt from certain corporate governance provisions under Regulation 15(2) of SEBI LODR Regulations as its paid-up equity share capital does not exceed ₹10 crore and net worth does not exceed ₹25 crore.
Related Party Transactions
No materially significant transactions with related parties during FY25-26.
Internal Financial Controls
The company maintains adequate internal financial controls systems, and the auditors expressed an unmodified opinion on their effectiveness.
Shareholding Pattern
- Promoter Group holding: 65.57% (FY25: 60.81%)
- Klassic Industries Private Limited: 41.98% (30,89,677 shares)
- Nortan Electricals Private Limited: 23.59% (17,35,797 shares)
Financial Impact
No quantified financial impact disclosed for the auditor qualifications regarding loans and tax arrears. The company stated that the demand loans are acknowledged by borrowing companies and recovery is not foreseen as difficult.
Forward-looking Statements
The directors are exploring options to bring new business to the company but face difficulties due to sluggish investment environment. The company is looking for strategic partnerships, collaborations, and product developments for future growth.