Key Financial Figures (Amounts in ₹ Thousand, except per share data)

Financial Performance FY 2025-26 vs. FY 2024-25:

  • Revenue from Operations: ₹8,360,968.70 (Prev. Year: ₹5,600,791.61) — 49.3% increase
  • Other Income: ₹483,217.06 (Prev. Year: ₹411,961.44)
  • Total Revenues: ₹8,844,185.76 (Prev. Year: ₹6,012,753.05)
  • Purchase of Stock-in-Trade: ₹8,641,135.65 (Prev. Year: ₹5,894,220.66)
  • Change in Inventories: (₹395,801.51) decrease (Prev. Year: (₹254,976.25) decrease)
  • Employee Benefit Expense: ₹63,736.82 (Prev. Year: ₹48,933.92)
  • Finance Costs: ₹19,997.44 (Prev. Year: ₹23,717.33)
  • Depreciation & Amortization: ₹8,475.44 (Prev. Year: ₹7,179.94)
  • Other Expenses: ₹383,709.64 (Prev. Year: ₹219,432.67)
  • Profit Before Tax: ₹122,932.28 (Prev. Year: ₹74,244.77) — 65.6% increase
  • Current Tax: ₹31,132.69 (Prev. Year: ₹19,279.68)
  • Deferred Tax: (₹86.69) (Prev. Year: (₹116.06))
  • Excess/Short Provision for Prior Year Tax: (₹50.86) (Prev. Year: ₹12.76)
  • Profit After Tax: ₹91,937.15 (Prev. Year: ₹55,068.49) — 67.0% increase

Capital Structure:

  • Authorized Share Capital: ₹17,00,00,000 (17,000,000 equity shares of ₹10 each) — unchanged
  • Issued, Subscribed & Paid-up Capital: ₹142,200,000 (14,220,000 equity shares of ₹10 each) increased from ₹104,500,000 (10,450,000 shares) due to IPO
  • Earnings Per Share (Basic & Diluted): ₹7.09 (Prev. Year: ₹5.27)

Balance Sheet Highlights (as of March 31, 2026):

  • Total Equity: ₹483,941.31
  • Reserves and Surplus: ₹341,741.31
  • Non-Current Liabilities: ₹517,491.42 (primarily deposits for branch management)
  • Current Liabilities: ₹653,760.61
  • Total Liabilities: ₹1,655,193.34
  • Non-Current Assets: ₹93,305.61 (Property, Plant & Equipment: ₹45,995.33; Intangible Assets: ₹8,485.27)
  • Current Assets: ₹1,561,887.73 (Inventories: ₹1,068,477.26; Cash & Cash Equivalents: ₹35,419.99; Short-term Loans & Advances: ₹387,601.76)
  • Total Assets: ₹1,655,193.34

Significant Events and Dates

  • IPO Completion: The company successfully completed its Initial Public Offering (IPO) of 377,000 equity shares of ₹10 each at a price of ₹66 per share (including a premium of ₹56 per share), aggregating to ₹2,448.20 lakhs. The issue was entirely a fresh issue.
  • Listing Date: Equity shares were listed on the BSE SME Platform on August 4, 2025. The BSE scrip code is '544464'.
  • AGM Notice Date: September 2, 2026
  • AGM Date: September 26, 2026, at 5:00 PM IST through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Record Date for AGM: September 18, 2026
  • Remote E-voting Period: September 23, 2026 (9:00 AM) to September 25, 2026 (5:00 PM)
  • Book Closure: September 19, 2026 to September 25, 2026 (both days inclusive)

Parties Involved

  • Stock Exchange: BSE Limited (BSE)
  • Registrar & Transfer Agent: Bigshare Services Private Limited
  • Statutory Auditor (Retiring): S A D P & Co. (FRN: 0112625W)
  • Statutory Auditor (Proposed): HAY & Associates LLP, Chartered Accountants (Firm Registration No. 104106W)
  • Internal Auditor: D.A. Kamani & Associates
  • Secretarial Auditor: K.P. Ghelani & Associates (CS Keyur Ghelani)
  • Bankers: HDFC Bank, Axis Bank
  • Scrutinizer for E-voting: CS Keyur Ghelani, proprietor of M/s K.P. Ghelani & Associates

AGM Business Items

Ordinary Business:

1. Adoption of audited standalone financial statements for FY 2025-26 together with reports of Board of Directors and Auditors.

2. Reappointment of Mr. Girishkumar Premjibhai Jadvani (DIN: 06452836) as Whole Time Director, who retires by rotation.

3. Appointment of M/s. HAY & Associates LLP as Statutory Auditors for a term of 5 consecutive years, from the conclusion of the 14th AGM until the conclusion of the 19th AGM.

Operational and Strategic Highlights

  • Business Model: Multi-brand retail sector company specializing in sale of smartphones, mobile accessories, and consumer durable electronic products.
  • Product Portfolio: Includes smartphones from Apple, Samsung, Realme, Xiaomi, Oppo, Vivo, Motorola, Google Pixel, Infinix; consumer electronics like Smart TVs, ACs, Refrigerators from Sony, LG, Panasonic, Godrej.
  • Store Network: 390 stores as of July 2026, with 197 in Gujarat, 127 in Maharashtra, 65 in Madhya Pradesh, and 1 in Union Territory of Dadra and Nagar Haveli and Daman and Diu.
  • Customer Offerings: Credit/EMI facilities through tie-ups with banks/financial institutions; after-sales services; warranties from manufacturers.
  • Growth Drivers: Rising disposable income, premiumization, digitalization, financing/EMI schemes, expansion into Tier-II/III cities, smart-home adoption.

Corporate Governance and Compliance

  • Board of Directors: Comprises 6 directors - 1 Chairman & Managing Director (Kishorbhai P. Jadwani), 2 Whole Time Directors (Girishkumar P. Jadvani, Vijesh P. Patel), and 3 Independent Directors (Vishwas O. Sagparia, Bhavik K. Nathavani, Komal N. Ganatra).
  • Board Meetings: 10 meetings held during the year.
  • Key Managerial Personnel: Kishorbhai P. Jadwani (Chairman & MD), Girishkumar P. Jadvani (WTD), Vijesh P. Patel (WTD), Piyush J. Dedakiya (CFO), Vinay B. Karkera (CS & Compliance Officer).
  • Board Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders' Relationship Committee, Corporate Social Responsibility Committee.
  • CSR: Spent ₹800,000 on CSR activities against a requirement of ₹768,602. The amount was spent on education-related activities through SHREE SWAMINARAYAN GURUKUL.
  • Secretarial Audit: Conducted by K.P. Ghelani & Associates. The report contains no qualifications or adverse remarks.
  • Internal Financial Controls: The auditors reported that the company has adequate internal financial controls system over financial reporting.

Related Party Transactions

All transactions with related parties were conducted at arm's length and in the ordinary course of business. Key transactions included:

  • Rent payments to directors and relatives: ₹1,563 to Premjibhai Jadwani, ₹390 to Kishor P. Jadwani, ₹1,170 to Girish P. Jadvani, ₹918 to Vijesh P. Patel.
  • Salary payments to directors: ₹2,100 each to Kishor P. Jadwani, Girish P. Jadvani, and Vijesh P. Patel.
  • Purchases from related parties: ₹12,745.09 from Girish P. Jadvani HUF, ₹1,427.80 from Kishor P. Jadwani HUF.

Forward-Looking Statements

The Management Discussion & Analysis section outlines:

  • Outlook: Confident of reaching ₹1,200 crore turnover; plans to expand to 500-600 stores and enter new markets including Chhattisgarh and Mumbai.
  • Risks: Margin pressure, inventory obsolescence, high operating costs, online competition, supply-chain disruptions, rapid technological change.
  • Opportunities: Expansion into Tier-II/III cities, growth in smartphones/laptops/wearables, smart-home products, omnichannel retailing.