Board Meeting Details
The board of directors meeting was held on October 31, 2026, from 3:00 PM to 5:00 PM at the registered office in Ahmedabad, Gujarat.
Financial Results Approval
The board considered and approved the unaudited Standalone Financial Results along with Limited Review Report for the half year ended September 30, 2026, pursuant to Regulation 33 of SEBI LODR.
Financial Performance (Half Year Ended September 30, 2026)
Revenue & Profitability:
- Revenue from Operations: ₹3,121.89 lakh (compared to ₹3,554.72 lakh in H1 FY26 and ₹5,034.79 lakh for full year FY26)
- Total Income: ₹3,121.89 lakh
- Profit before tax: ₹90.40 lakh (compared to ₹280.81 lakh in H1 FY26)
- Tax Expense: ₹23.36 lakh (Current Tax: ₹21.23 lakh, Earlier Years Tax: ₹2.13 lakh)
- Profit for the period: ₹67.05 lakh (compared to ₹222.49 lakh in H1 FY26)
- Earnings per share (Basic & Diluted): ₹0.50 (compared to ₹2.41 in H1 FY26)
Expense Breakdown:
- Cost of Material Consumed: ₹2,777.62 lakh
- Changes in inventories: ₹156.51 lakh
- Employee Benefits Expenses: ₹33.16 lakh
- Finance Cost: ₹2.65 lakh
- Depreciation & Amortisation: ₹4.51 lakh
- Other Expenses: ₹57.04 lakh
- Total Expenses: ₹3,031.48 lakh
Balance Sheet Position (as at September 30, 2026):
- Share Capital: ₹1,332.48 lakh
- Reserves and Surplus: ₹2,073.49 lakh
- Total Shareholders' Funds: ₹3,405.98 lakh
- Long-Term Borrowings: ₹387.34 lakh
- Trade Payables: ₹30.20 lakh
- Total Liabilities: ₹3,892.21 lakh
- Property, Plant & Equipment: ₹164.31 lakh
- Inventories: ₹478.67 lakh
- Trade Receivables: ₹1,474.65 lakh
- Cash and Cash Equivalents: ₹557.94 lakh
- Total Assets: ₹3,892.21 lakh
Cash Flow Statement (H1 FY27):
- Cash Generated From Operations: ₹(502.31) lakh
- Net cash used in operating activities: ₹(523.55) lakh
- Net cash used in investing activities: ₹(137.15) lakh
- Net cash from financing activities: ₹374.61 lakh
- Net decrease in cash: ₹(286.09) lakh
- Opening cash balance: ₹844.02 lakh
- Closing cash balance: ₹557.94 lakh
Operational Update
The Board reviewed store establishment progress and noted that the Company has successfully set up 11 new stores as of the meeting date. The Board approved shifting one existing store to a new location in the same locality for operational efficiency optimization.
IPO Proceeds Utilization Certificate
The statutory auditor certified the utilization of IPO proceeds amounting to ₹12.28 crore as of September 30, 2026:
- Expansion of Retail Network: Allocated ₹3.58 crore, Utilized ₹1.16 crore, Unutilized ₹2.42 crore
- Brokerage Charges: Allocated ₹0.19 crore, Utilized ₹0.01 crore, Unutilized ₹0.18 crore
- Security Deposits: Allocated ₹0.37 crore, Utilized ₹0.06 crore, Unutilized ₹0.31 crore
- Working Capital Requirements: Allocated ₹6.39 crore, Utilized ₹5.08 crore, Unutilized ₹1.31 crore
- General Corporate Purpose: Allocated ₹1.20 crore, Utilized ₹0.06 crore, Unutilized ₹1.14 crore
- Issue Related Expenses: Allocated ₹0.55 crore, Utilized ₹0.55 crore, Unutilized ₹0.00 crore
Total unutilized amount: ₹5.35 crore parked in bank accounts. The board has approved utilization of balance proceeds beyond the originally envisaged timeline of September 30, 2026.
Store Opening Details (New stores opened as of date):
The document lists 11 store locations with opening dates ranging from April to October 2026 across Ahmedabad, Anand, Kheda, Gandhinagar, and other locations in Gujarat.