Key Financial Figures (Standalone)
Revenue from Operations: ₹99.99 lakhs (FY 2024-25: ₹6.63 lakhs)
Net Loss: ₹30.80 lakhs (FY 2024-25: ₹35.03 lakhs)
Loss Before Tax: ₹30.80 lakhs (FY 2024-25: ₹35.03 lakhs)
Employee Benefits Expense: ₹111.44 lakhs
Depreciation: ₹0.26 lakhs
Finance Costs: ₹0.03 lakhs
Other Expenses: ₹15.96 lakhs
Total Assets: ₹410.79 lakhs
Total Liabilities: ₹530.81 lakhs
Equity Share Capital: ₹608.49 lakhs (60,84,900 equity shares of ₹10 each)
Other Equity: Negative ₹728.51 lakhs
Borrowings: ₹234.41 lakhs (unsecured loans from directors and others)
Trade Payables: ₹193.06 lakhs
Business Items for AGM Approval
Ordinary Business:
1. Adoption of audited financial statements for FY 2025-26
2. Reappointment of Mr. Bharat Kumar Kakkireni (DIN: 06781591) who retires by rotation
Special Business:
3. Appointment of Secretarial Auditor: Resolution to appoint M/s. P B & Associates, Practicing Company Secretaries (M. No. 36114, C.P. No: 25291) as Secretarial Auditor for five consecutive financial years from FY 2026-27 to FY 2030-31
4. Revision in Remuneration: Special resolution to increase remuneration of Mr. Bharat Kumar Kakkireni, Whole-time Director & CEO, from ₹1,00,000 to ₹4,00,000 per month (₹48,00,000 per annum) effective October 1, 2026
Key Dates and Deadlines
AGM Date: September 30, 2026 at 4:00 PM through VC/OAVM
Register Closure: September 22, 2026 to September 30, 2026 (both days inclusive)
Remote e-Voting Period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
Cut-off Date for Voting Rights: September 23, 2026
Board and Committee Composition
Managing Director: Mr. D. V. Ramana Reddy (DIN: 02957936)
Whole Time Director & CFO: Mrs. D. Aparna Reddy
Whole Time Director & CEO: Mr. Bharat Kumar Kakkireni (DIN: 06781591)
Independent Directors: Mr. William Peddapanga, Mr. Sreenivasull Thoganti
Audit Committee: Mr. Srinivasulu Thoganti (Chairman), Mr. William Peddapanga, Mr. Adepu Sreekanth
Nomination and Remuneration Committee: Mr. Sreenivasull Thoganti (Chairman), Mr. Adepu Sreekanth, Mr. William Peddapanga
Stakeholders Relationship Committee: Mr. Srinivasulu Thoganti (Chairman), Mr. William Peddapanga, Mr. Adepu Sreekanth
Auditor Information
Statutory Auditors: M/s. M M Reddy & Co., Chartered Accountants (Firm Registration No. 010371S)
Secretarial Auditor for FY 2025-26: Ms. Neha Poddar, Practicing Company Secretary (M. No. A33026, C.P. No: 12190)
Proposed Secretarial Auditor for FY 2026-31: M/s. P B & Associates, Practicing Company Secretaries
Auditors' report for FY 2025-26 contains no qualifications but includes an Emphasis of Matter regarding non-obtainment of actuarial valuation for gratuity obligations as required under Ind AS 19.
Regulatory and Compliance Status
- Company is exempt from certain corporate governance provisions under Regulation 15(2) of SEBI LODR due to paid-up equity share capital not exceeding ₹10 crore and net worth not exceeding ₹25 crore
- Trading in company's shares suspended on BSE due to penal reasons
- Company achieved regulatory compliance and was re-listed on BSE during FY26
- No material orders passed by regulators, courts, or tribunals impacting going concern status
- No fraud reported by statutory auditors during FY 2025-26
- No revision of financial statements required
Capital Structure Impact
The proposed remuneration revision for Mr. Bharat Kumar Kakkireni represents an increase in managerial remuneration but does not impact share capital structure. The company has inadequate profits, and the remuneration is within limits prescribed under Section II of Part II of Schedule V to the Companies Act, 2013.
Cash Flow Implications
- Net cash used in operating activities: ₹47.81 lakhs
- Net cash from financing activities: ₹52.21 lakhs (primarily from borrowings)
- Cash and cash equivalents at year-end: ₹7.90 lakhs
- No dividend declared or paid during the year
Related Party Transactions
Unsecured loans taken from Managing Director (₹40.53 lakhs) and Whole-time Director & CFO (₹3.50 lakhs). These are interest-free and excluded from the ambit of Section 188 of the Companies Act, 2013.
Voting Arrangements
The company has engaged Central Depository Services (India) Limited (CDSL) as the authorized agency for conducting the AGM and providing remote e-Voting and e-Voting facilities. Detailed instructions for shareholders to participate in e-Voting and join the virtual AGM are provided in the notice.
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