AGM Details
- Meeting Date: Tuesday, August 4, 2026 at 12:00 PM
- Mode: Video Conferencing (VC)/Other Audio Visual Means (OAVM)
- Book Closure: Wednesday, July 29, 2026 to Tuesday, August 4, 2026 (both days inclusive)
- E-voting Cut-off: July 28, 2026
- Remote E-voting Period: August 1, 2026 (9:00 AM) to August 3, 2026 (5:00 PM)
Business Items
Ordinary Business:
1. Adoption of audited financial statements for FY ended March 31, 2026 and Reports of Board of Directors and Auditors
2. Re-appointment of Mrs. Karamjeet Sidhu (DIN: 03325221) who retires by rotation
Special Business:
3. Re-appointment of Mr. Manish Kumar (DIN: 08881293) as Independent Director for second term of five years from October 1, 2026 to September 30, 2031 (Special Resolution required)
Financial Performance Highlights (Standalone)
- Revenue from Operations: ₹210.64 lakhs (FY2024-25: ₹19.14 lakhs) - 1000.52% increase
- Total Income: ₹210.64 lakhs (FY2024-25: ₹19.14 lakhs)
- Net Loss: ₹53.88 lakhs (FY2024-25: ₹98.12 lakhs) - 45.08% reduction
- Total Expenses: ₹264.53 lakhs (FY2024-25: ₹117.26 lakhs)
- No dividend recommended due to losses and accumulated losses
- Share Capital: ₹2,172.00 lakhs (21,72,00,000 equity shares of ₹1 each) - unchanged during year
Key Financial Ratios
- Current Ratio: 17.59 times (FY2024-25: 32.16 times)
- Debt-Equity Ratio: 0.36 times (FY2024-25: 0.61 times)
- Return on Equity: -2.68% (FY2024-25: -4.74%)
Board Composition Changes
Resignations (August 21, 2025):
- Mrs. Chhayaben Parmar (Non-Executive Independent Director)
- Mr. Mehul Kumar Dhaduk (Non-Executive Independent Director)
- Mr. Ramiz Rafikbhai Saya (Executive Director - Chairperson)
Appointments (January 19, 2026, regularized March 29, 2026):
- Ms. Neha Kargeti (Non-Executive Independent Director)
- Ms. Adithi Rathore (Non-Executive Independent Director)
- Mr. Kulbir Singh Sandhu (Non-Executive Independent Director)
Key Managerial Personnel
- Managing Director: Mrs. Karamjeet Kaur Sidhu
- Chief Financial Officer: Ms. Sakshi Jhala
- Company Secretary & Compliance Officer: Ms. Guddi Bajpai (from February 4, 2026)
Statutory Appointments
- Statutory Auditors: M/s. H Rajen & Co., Chartered Accountants (FRN: 108351W) - appointed for 5 years till 45th AGM
- Secretarial Auditors: M/s. Ashok Patel & Associates - appointed for 5 years from 2025-26 to 2029-30
- Internal Auditors: M/s. H.M. Shah & Co., Mumbai
- RTA: M/s. Satellite Corporate Services Private Limited, Mumbai
Regulatory Compliance Status
Suspension Status: Trading suspended by BSE due to non-payment of Annual Listing Fees and non-submission of quarterly compliances
Remedial Actions Taken:
- Paid SOP fees of ₹1,54,08,676 to BSE for revocation of suspension
- Paid reinstatement fees of ₹17,70,000
- Filed application for revocation of suspension on February 13, 2026
- Submitted all pending quarterly compliances as per BSE letter dated January 16, 2026
Secretarial Audit Observations:
1. Annual Listing Fees not paid timely (Reg. 14, SEBI LODR)
2. Quarterly shareholding pattern not filed within timelines for December 2025 and June 2025 quarters (Reg. 31)
3. Delays in filing quarterly/annual financial results (Reg. 33)
4. Newspaper publications of financial results not done for June 2025 quarter (Reg. 47)
5. Delayed filing of investor grievance statement for June 2025 quarter (Reg. 13(3))
6. Irregularities in price-sensitive disclosures and meeting intimations (Reg. 29 & 30)
7. Delay in appointment of full-time Company Secretary (KMP)
8. Irregularity in depositing undisputed statutory dues including GST, PF, ESI, Income Tax, etc.
Loans and Investments
- Loans Given: ₹841.51 lakhs
- Investments: ₹1,836.25 lakhs
- Guarantees Given: Nil
Related Party Transactions
No materially significant related party transactions under SEBI Listing Regulations read with Section 188 of Companies Act, 2013. Details of transactions as required under Ind AS 24 are provided in financial statements.
Corporate Governance
- Board met 8 times during FY2025-26
- Audit Committee met 4 times
- Nomination and Remuneration Committee met 2 times
- Stakeholders' Relationship Committee met 2 times
- Separate meeting of Independent Directors held on February 12, 2026
Remuneration Details
- Mrs. Karamjeet Sidhu (MD): ₹7.50 lakhs (100% increase from nil previous year)
- Ms. Sakshi Jhala (CFO): ₹6.60 lakhs (100% increase from nil previous year)
- Ms. Guddi Bajpai (CS): ₹1.41 lakhs (appointed February 4, 2026)
- Median Employee Remuneration Increase: 105.82%
- Total Employees: 32 as on March 31, 2026
Other Material Disclosures
- No subsidiaries, joint ventures or associate companies
- No material changes affecting financial position between year-end and report date
- No deposits accepted under Section 73 of Companies Act, 2013
- No significant orders passed by regulators/courts impacting going concern
- No sexual harassment complaints received during FY2025-26
- Vigil Mechanism/Whistle Blower Policy in place, no complaints received
- CSR provisions not applicable
- No foreign exchange earnings or outgo
Voting Arrangements
- E-voting services provided by NSDL
- Scrutinizer: Mr. Ashok Patel of M/s. Ashok Patel & Associates
- Results to be placed on company website and NSDL website within 2 days of AGM conclusion