Key Quantitative Figures

  • Revenue from Operations: ₹957.85 lakhs (FY 2025-26) vs ₹0 lakhs (FY 2024-25)
  • Other Income: ₹0 lakhs (FY 2025-26) vs ₹8.81 lakhs (FY 2024-25)
  • Profit Before Tax: ₹46.15 lakhs (FY 2025-26) vs ₹1.32 lakhs (FY 2024-25)
  • Net Profit After Tax: ₹37.97 lakhs (FY 2025-26) vs ₹1.32 lakhs (FY 2024-25)
  • Total Comprehensive Income: ₹37.97 lakhs (FY 2025-26) vs ₹1.32 lakhs (FY 2024-25)
  • Earnings Per Share: ₹0.85 (FY 2025-26) vs ₹0.03 (FY 2024-25)
  • Share Capital: ₹445.07 lakhs (44,50,680 equity shares of ₹10 each)
  • Reserves and Surplus: Negative ₹227.70 lakhs

Dates of Action

  • AGM Date: September 26, 2026 at 12:00 PM through Video Conference
  • Register Closure: September 20, 2026 to September 26, 2026
  • E-voting Period: September 23, 2026 (9:00 AM) to September 25, 2026 (5:00 PM)
  • Cut-off Date for E-voting: September 19, 2026
  • Result Declaration: On or before September 28, 2026 at 12:00 PM

Parties Involved

  • Stock Exchange: BSE Limited (Scrip Code: 526675)
  • Registrar & Transfer Agent: Satellite Corporate Services Pvt. Ltd (w.e.f. July 21, 2025)
  • Statutory Auditors: M/S. S S R V & Associates, Chartered Accountants (FRN: 135901W)
  • Secretarial Auditor: A. SHAH & ASSOCIATES, Practising Company Secretary
  • Scrutinizer for E-voting: Mr. Anish Shah (FCS No. 4713; CP No. 6560)

Board of Directors

  • Mr. Jigar Shah (Managing Director, DIN: 06605922)
  • Mr. Ashish Shah (Independent Director, DIN: 08297813)
  • Ms. Nidhi Gandhi (Independent Director, DIN: 11086584)
  • Mr. Dharmesh Shah (Independent Director, DIN: 10158601)
  • Mrs. Sandhya (Non-Independent Woman Director, DIN: 08579512)

Key Managerial Personnel

  • CFO: Mr. Het Shah
  • Company Secretary: Ms. Supriya Chakraborty

AGM Business Items

Ordinary Business:

1. Adoption of financial statements for FY ended March 31, 2026

2. Re-appointment of Mr. Jigar Shah who retires by rotation

Special Business:

3. Appointment of Ms. Nidhi Bharatbhai Gandhi as Non-Executive Independent Director for 5 years effective February 5, 2026

Director Changes During FY 2025-26

  • Ms. Nidhi Gandhi appointed as Additional Independent Director effective February 5, 2026
  • Mr. Abhishek Hagwane resigned as CFO effective February 5, 2026
  • Mr. Het Shah appointed as CFO effective February 5, 2026
  • Ms. Supriya Chakraborty appointed as Company Secretary effective May 16, 2025
  • Mr. Aadesh Sunil Gadhave resigned as Independent Director effective February 5, 2026

Financial Performance Highlights

| Particulars | 2025-26 (₹ Lakhs) | 2024-25 (₹ Lakhs) |

| Revenue from Operations | 957.85 | 0.00 |

| Other Income | 0.00 | 8.81 |

| Total Income | 957.85 | 8.81 |

| Profit Before Tax | 46.15 | 1.32 |

| Tax Expense | 8.18 | 0.00 |

| Net Profit | 37.97 | 1.32 |

| EPS (₹) | 0.85 | 0.03 |

Dividend and Reserves

  • No dividend recommended for FY 2025-26
  • No amount transferred to reserves during FY 2025-26

Secretarial Audit Qualifications

The Secretarial Audit Report by A. Shah & Associates highlighted several compliance deficiencies:

1. Non-maintenance of 100% promoter shareholding in dematerialized form

2. Non-provision of proof of dispatch of annual report for 2024-25 to shareholders

3. Non-compliance with newspaper advertisement requirements for board meetings and quarterly results

4. Non-appointment of Internal Auditor (appointed for FY 2026-27)

5. Non-registration of independent directors under ID databank

6. Delay in filing Form SH-7 with ROC

7. BSE levied fine of ₹1,06,200 for non-appointment of company secretary

8. Rejection of in-principle application for preferential issue by BSE

9. Delay in filing DIR-12 forms for director appointments

Internal Financial Controls

Auditors reported that the company has adequate internal financial controls system over financial reporting operating effectively as at March 31, 2026.

Shareholding Pattern (as on March 31, 2026)

  • Promoter & Promoter Group: 23.53% (10,47,160 shares)
  • Public Shareholding: 76.47% (34,03,520 shares)
  • Total Shares: 44,50,680 shares
  • Physical Shares: 29,84,590 shares (67.06%)
  • Demat Shares: 14,66,090 shares (32.94%)

Related Party Transactions

No contracts or arrangements with related parties during FY 2025-26.

Loans, Guarantees and Investments

No loans, guarantees or investments under Section 186 of Companies Act, 2013.

Corporate Governance

The company is exempt from certain corporate governance regulations as its paid-up equity share capital and net worth do not exceed stipulated thresholds.

Compliance with Sexual Harassment Act

No complaints of sexual harassment received or pending during FY 2025-26.

Significant Changes During Year

  • Change in RTA from Purva Sharegistry to Satellite Corporate Services
  • Registered office shifted to new address
  • Appointment of new statutory auditors

Financial Impact

Financial impact of compliance deficiencies includes BSE fine of ₹1,06,200 already paid by the company.