Financial Performance Highlights (₹ in Lakhs)
Total Income: ₹18.90 (FY25: ₹31.19)
Total Expenses: ₹31.70 (FY25: ₹27.74)
Profit/(Loss) Before Tax: (₹12.80) (FY25: ₹3.45)
Tax Expense: ₹0.95 (for earlier years)
Net Profit/Loss After Tax: (₹13.75) (FY25: ₹3.45)
The company reported a significant decline in performance with income decreasing by approximately 39% year-over-year and moving from profitability to loss-making status.
Share Capital Structure
Authorized Share Capital: ₹13,20,00,000
Paid-up Equity Share Capital: ₹10,26,90,000 (unchanged during the year)
Shares Outstanding: 1,02,69,000 equity shares of ₹10 each
Key Corporate Developments
1. Annual General Meeting Details
34th AGM Date: Saturday, September 12, 2026
Time: 3:00 PM
Mode: Video Conferencing/Other Audio-Visual Means
Book Closure: September 6, 2026 to September 12, 2026 (both days inclusive)
2. Agenda Items
Ordinary Business:
- Adoption of audited financial statements for FY ended March 31, 2026
- Appointment of Hitesh Kishor Gajra (DIN: 11278758) as Managing Director effective September 12, 2026
Special Business:
- Appointment of M/s Parul Agrawal & Associates as Secretarial Auditor for five years from FY 2026-27 to 2030-31
3. Board Composition Changes
Director Resignations during FY25-26:
- Bharat Bhushan (Managing Director) - resigned July 24, 2025
- Parmanand Chaubey (Additional Director) - resigned July 24, 2025
- Narender (Non-Executive & Independent Director) - resigned June 26, 2025
- Geeta Devi (Non-Executive & Independent Director) - resigned June 26, 2025
- Ajay Kumar (Non-Independent Director) - resigned April 26, 2025
New Appointments:
- Ms. Bhoomi Girish Bhadra (DIN: 10896624) - Additional Non-Executive & Independent Director from June 26, 2025
- Mr. Divyesh Kishor Bhanushali (DIN: 10860757) - Additional Non-Executive Independent Director from June 26, 2025
- Ms. Iroda Alloyorovna Ochilova (DIN: 09698799) - Additional Non-Executive & Non-Independent Director from July 24, 2025
4. Key Managerial Personnel
- Mr. Ajay Khanna - Chief Financial Officer
- Ms. Riya Jain - Company Secretary (appointed from April 7, 2026, replacing previous secretary who resigned January 20, 2026)
Regulatory Compliance Matters
Audit Committee Meetings
Five meetings held on: May 13, 2025; May 29, 2025; July 22, 2025; November 11, 2025; February 5, 2026
Board Meetings
Nine meetings held during FY25-26 on: May 13, 2025; May 27, 2025; May 29, 2025; June 11, 2025; June 26, 2025; July 24, 2025; August 8, 2025; November 12, 2025; February 5, 2026
Statutory Auditors
M/S V R S K & ASSOCIATES (Firm Registration No. 011199N) appointed for five years from FY 2025-26 to 2029-30
Audit Fees: ₹1,29,800 for FY25-26
Secretarial Auditor Observations
Noted that Form SH-7 for increasing authorized share capital (approved in August 2025 AGM) was still due to be filed with ROC.
Financial Position Details
Investments
Non-current investments: ₹1,02,200 lakh in unquoted equity instruments:
- Edoptica Retail India Limited: 36,00,000 shares (₹45,000 lakh)
- Intellectual Finvest Private Limited: 57,20,000 shares (₹57,200 lakh)
Loans and Advances
Current loans (unsecured): ₹1,31,789.92 lakh (FY25: ₹1,47,804.47 lakh)
- Loans to related parties: ₹171.66 lakh
- Loans to other body corporate: ₹1,31,618.26 lakh
Significant observation: ₹131,400 lakh of loans are pending conversion to equity belonging to:
- Genesis Developers & Holdings Ltd.: ₹40,000 lakh
- Golkonda Aluminium Extrusions Ltd.: ₹37,400 lakh
- Hillridge Investments Ltd.: ₹40,000 lakh
- Pacheli Industrial Finance Ltd.: ₹14,000 lakh
Borrowings
Non-current borrowings (unsecured): ₹2,50,000 lakh from body corporate & others (unchanged from FY25)
Inventories
Total: ₹16,342.03 lakh (FY25: ₹342.03 lakh)
- Stock in shares (Dhenu Buildcon Infra Limited): ₹16,000 lakh
- Raw materials: ₹342.03 lakh
Market value of inventories: ₹88,788.73 lakh as on March 31, 2026
Auditor Qualifications and Observations
Statutory Auditor Report (V R S K & ASSOCIATES)
- Qualified opinion due to non-provision of interest on loans amounting to ₹131,400 lakh pending conversion to equity
- Noted non-compliance with IND-AS accounting standards
- Identified non-deposit of TDS (₹1.07 lakh) and GST under reverse charge (₹0.09 lakh)
- Pending tax demand of ₹4.33 lakh for AY 2019-20
Internal Financial Controls
Auditors expressed qualified opinion on adequacy and operating effectiveness of internal financial controls
Corporate Governance
Compliance: Company states it has complied with all applicable provisions of Companies Act, 2013 and SEBI Listing Regulations
Whistle Blower Policy: In place, no complaints received during FY25-26
CSR: Not applicable to the company
Voting Arrangements
E-voting period: September 9, 2026 (9:00 AM) to September 11, 2026 (5:00 PM)
Scrutinizer: ACS Parul Agrawal, Practicing Company Secretaries
Cut-off date: September 5, 2026
Other Material Information
- No dividend declared for FY25-26
- No deposits accepted from members or public
- No material changes affecting financial position between year-end and report date
- Company engaged in investment, financing, and trading in shares and securities activities
- 99.94% of paid-up share capital in dematerialized form as of March 31, 2026