Board Meeting Details

The Board Meeting commenced at 03:00 P.M. and concluded at 03:50 P.M. on May 29, 2026.

Key Decisions Approved

1. Audited Standalone Financial Results for Half Year and Year ended March 31, 2026

The Board approved the audited financial results including Statement of Assets & Liabilities and Cash Flow Statement, prepared in accordance with Accounting Standards (AS) and Companies (Accounting Standards) Rules, 2006.

Financial Performance Highlights (All amounts in ₹ lakhs):

Year ended March 31, 2026:

  • Revenue from Operations: ₹2,206.07 (Previous year: ₹4,003.50)
  • Other Income: ₹0.19 (Previous year: ₹6.07)
  • Total Revenue: ₹2,206.26 (Previous year: ₹4,009.56)
  • Total Expenses: ₹2,176.00 (Previous year: ₹3,956.64)
  • Profit Before Tax: ₹30.26 (Previous year: ₹52.93)
  • Tax Expense: ₹8.13 (Previous year: ₹13.01)
  • Net Profit: ₹22.13 (Previous year: ₹39.92)
  • Earnings Per Share (Basic & Diluted): ₹0.04 (Previous year: ₹2.40)

Half Year ended March 31, 2026:

  • Revenue from Operations: ₹1,300.98
  • Other Income: ₹0.04
  • Total Revenue: ₹1,301.02
  • Total Expenses: ₹1,291.93
  • Profit Before Tax: ₹9.09
  • Tax Expense: ₹2.77
  • Net Profit: ₹6.32
  • Earnings Per Share (Basic & Diluted): ₹0.01

Capital Structure:

  • Paid-Up Equity Share Capital: ₹557.44 lakhs (Previous year: ₹166.40 lakhs)
  • Face Value per Share: ₹10
  • Other Equity: ₹3,781.11 (Previous year: ₹3,251.46)

Balance Sheet Position as at March 31, 2026 (₹ lakhs):

  • Total Equity and Liabilities: ₹6,204.52 (Previous year: ₹4,878.09)
  • Total Assets: ₹6,204.52 (Previous year: ₹4,878.09)
  • Property, Plant and Equipment: ₹2,866.26 (Previous year: ₹2,869.83)
  • Inventories: ₹461.81 (Previous year: ₹200.32)
  • Trade Receivables: ₹2,088.09 (Previous year: ₹1,494.93)
  • Cash and Bank Balances: ₹129.21 (Previous year: ₹47.94)

Cash Flow Statement for Year ended March 31, 2026 (₹ lakhs):

  • Net cash from operating activities: (₹57.44)
  • Net cash used in investing activities: ₹0.15
  • Net cash from financing activities: ₹385.57
  • Net increase in cash: ₹128.27

2. Issuance of Non-Convertible Debentures (NCDs)

  • Approved issuance of secured, unlisted, redeemable NCDs aggregating up to ₹30,00,00,000 (Rupees Thirty Crores)
  • Issuance on private placement basis
  • Creation of ISIN with NSDL/CDSL
  • Authorization given to Mr. Kanuparthi Srinivas Prasad, Chief Executive Officer, to complete all formalities

NCD Details:

  • Total number of securities: Up to 600 NCDs
  • Face value: ₹5,00,000 per NCD
  • Total issue size: ₹30 crores
  • Listing: Not proposed
  • Tenure: Within 48 months from date of allotment
  • Coupon: 18% per annum payable every six months
  • Redemption: Bullet payment at par after 48 months
  • Security: Charge will be created on company assets as required

3. Appointment of Internal Auditor

  • Appointed M/s S S A R & Associates (Firm Registration Number: 007351) as Internal Auditor
  • Term: For financial years 2025-26 and 2026-27
  • Date of appointment: May 29, 2026

Auditor Profile:

  • Headed by CMA Swamy Ayyappa Reddy Sathi (ACMA - Membership No. 57356)
  • Based in Vijayawada, Andhra Pradesh
  • 3 years of experience spanning statutory, internal, management, and tax audits
  • Core expertise covers audit & assurance and taxation (GST, income tax, TDS compliance)

4. Alteration in Memorandum of Association

  • Expanded object clause to include agricultural business operations
  • New objects include export, import, trading, buying, selling, marketing, processing, packaging, storing, handling, and distribution of all kinds of agricultural products
  • Includes authority to establish warehouses, cold storage facilities, processing units, packaging units and export houses
  • Allows obtaining necessary licenses and registrations for export-import business
  • Permits collaborations and joint ventures with foreign buyers and international trade bodies

Auditor's Report Details

  • Auditor: TRAK & Associates, Chartered Accountants
  • Audit conducted in accordance with Standards on Auditing
  • Unmodified opinion without qualifications
  • Two emphasis of matter paragraphs:

1. Trade Receivables, Trade Payables and Inventory balances as at March 31, 2026 are subject to confirmation and physical verification

2. Sample selection for vouching of Sales and Purchases is limited due to nature of company's business operations

Capital Changes

  • Company allotted 11,23,200 Equity Shares on Right Issue and 27,87,200 Equity Shares on Bonus Issue during the year
  • Right Issue proceeds: ₹898.56 lakhs, utilized ₹778.56 lakhs for expansion of agri trading business, unutilized ₹120.00 lakhs

Segment Information

  • Company has one reportable business segment
  • Separate segment-wise disclosure not applicable as per Accounting Standard (AS) 17