Financial Performance Summary

FY 2025-26 Financial Highlights:

  • Total Sales and Other Income: ₹49,009.21 lakhs (FY25: ₹49,238.74 lakhs)
  • Profit before depreciation: ₹2,559.77 lakhs (FY25: ₹1,055.70 lakhs)
  • Depreciation: ₹738.69 lakhs (FY25: ₹628.42 lakhs)
  • Profit Before Tax: ₹1,821.08 lakhs (FY25: ₹427.28 lakhs)
  • Provision for taxation: ₹508.67 lakhs (including Deferred & Current Tax) (FY25: ₹106.10 lakhs)
  • Profit After Tax: ₹1,312.41 lakhs (FY25: ₹321.18 lakhs)
  • Balance Carried Forward: ₹4,754.34 lakhs (FY25: ₹3,469.02 lakhs)
  • EPS: ₹31.25 (FY25: ₹7.65)

Dividend Declaration:

No dividend declared for FY 2025-26.

Board and Management Changes

Director Appointments/Resignations:

  • Mr. Gopalsingh Rajput (DIN: 11238557) appointed as Additional Non-Independent Executive Director on 11th August, 2025, regularized at 52nd AGM on 30th September, 2025
  • Mr. Subhash H. Rajput (DIN: 08602709) resigned as Whole-time Director effective 11th November, 2025

AGM Resolutions Proposed:

1. Ordinary Business:

  • Adoption of audited financial statements for FY 2025-26
  • Re-appointment of Mrs. Hansarani Ripudaman Singh Vaghela (DIN: 01468168) who retires by rotation

2. Special Business:

  • Re-appointment of Smt. Nayankuwar J. Rawal (DIN: 03605134) as Whole-Time Director for 3 years from 20th November, 2026 with monthly salary up to ₹1,00,000 and commission
  • Re-appointment of Shri Vishal Thakkar (DIN: 05327900) as Independent Director for second term of 5 years
  • Change in designation of Mr. Gopalsingh Rajput (DIN: 11238557) from Director to Whole-time Director for 3 years from 12th August, 2026 with monthly remuneration of ₹2,75,000

Key Managerial Personnel Remuneration

  • Mr. Jitendrasinh J. Rawal (Chairman & MD): ₹134.26 lakhs (17.66% increase)
  • Mrs. Hansarani Vaghela (Whole-time director): ₹26.88 lakhs (no change)
  • Mrs. Nayankuwar J. Rawal (Whole-time director): ₹13.44 lakhs (no change)
  • Mr. Nikhil Borana (Company Secretary): ₹9.32 lakhs (8.54% increase)
  • Mr. Gopalsingh B. Rajput (Whole-time director): ₹10.67 lakhs (new appointment)
  • Mr. Jivan N. Mali (CFO): ₹6.82 lakhs (new appointment)

Non-executive directors paid sitting fees of ₹5.86 lakhs during FY 2025-26.

Capital Structure

  • Authorized Capital: ₹6.00 crore (60,00,000 equity shares of ₹10 each)
  • Paid-up Capital: ₹4.20 crore (42,00,000 equity shares of ₹10 each)
  • No change in share capital during the year

Debt Position

  • Long-term borrowings: ₹2,885.49 lakhs (FY25: ₹2,865.22 lakhs)
  • Short-term borrowings: ₹3,138.64 lakhs (FY25: ₹4,015.82 lakhs)
  • Total Borrowings: ₹6,024.13 lakhs (FY25: ₹6,880.04 lakhs)

Related Party Transactions

Total related party transactions amounted to ₹34.20 crore, including:

  • Purchases from Shivangan Food & Pharma Products P.Ltd.: ₹6.75 crore
  • Sales to Shivangan Food & Pharma Products P.Ltd.: ₹4.32 crore
  • Processing charges from Shivangan Food & Pharma Products P.Ltd.: ₹5.21 crore
  • Loans from directors: ₹14.02 crore
  • Guarantee commission to directors: ₹0.92 crore

Corporate Governance Compliance

  • Four Board meetings held during the year
  • CSR expenditure: ₹35.00 lakhs (required: ₹14.40 lakhs)
  • Secretarial Audit Report contained qualifications regarding 100% promoter shareholding not in demat form and delayed entries in Structured Digital Database
  • Company complied with SEBI LODR regulations except for minor non-compliances

Operational Highlights

  • Company engaged in manufacture of starches and derivatives for textile, paper, pharmaceutical, and food industries
  • Factory located at Rawal Industrial Estate, Dondaicha, Dist. Dhule
  • Export earnings: ₹2,504.38 lakhs (FY25: ₹2,146.82 lakhs)
  • 376 permanent employees as on 31st March, 2026

AGM Details

  • Date: 28th September, 2026
  • Time: 10:00 AM
  • Venue: Registered Office at Mhatre Pen Building, 'B' Wing, 2nd Floor, Senapati Bapat Marg, Dadar West, Mumbai-400028
  • Book Closure: 22nd September, 2026 to 28th September, 2026 (both days inclusive)

Auditors

  • Statutory Auditors: M/s. M B Agrawal & Co. (until 54th AGM)
  • Secretarial Auditors: M/s. Leena Agrawal & Co. (for FY 2025-26 to FY 2029-30)
  • Total audit fees: ₹3.00 lakhs