Financial Performance (FY 2025-26)

  • Total Income: ₹690.32 lakh (₹1,162.95 lakh in FY 2024-25)
  • Profit Before Tax and Exceptional Items: ₹191.12 lakh (₹264.52 lakh in FY 2024-25)
  • Exceptional Items: ₹40.45 lakh (₹69.24 lakh in FY 2024-25)
  • Net Profit After Tax: ₹161.45 lakh (₹180.81 lakh in FY 2024-25)
  • Basic and Diluted EPS: ₹1.00 (₹1.12 in FY 2024-25)
  • Paid-up Equity Share Capital: ₹1,624.34 lakh (unchanged)
  • Reserves and Surplus: ₹1,987.56 lakh (₹1,817.02 lakh in FY 2024-25)

15th Annual General Meeting Details

  • Date: September 19, 2026
  • Time: 3:00 PM
  • Mode: Video Conferencing/Other Audio-Visual Means
  • Record Date: September 12, 2026
  • Book Closure: September 13, 2026 to September 19, 2026 (both days inclusive)

Ordinary Business Items

1. Adoption of Audited Financial Statements for FY 2025-26

2. Re-appointment of Mr. Manvendra Shivshyam Tiwari (DIN: 09585374) as Director retiring by rotation

3. Re-appointment of M/s Bansilal Shah & Company as Statutory Auditors

Special Business Items

4. Reappointment cum continuation of tenure of Independent Director Mr. Subodh Jain (DIN: 09203940) for a second term of 5 years

5. Enabling resolution for issuance of Equity Shares via Rights Issue for an aggregate amount not exceeding ₹50 crores

6. Enabling resolution for issuance of securities through Private Placement for an amount not exceeding ₹50 crores

7. Approval for payment of remuneration to managerial personnel exceeding limits under Section 197 of Companies Act, 2013

8. Approval for loans, deposits, advances, guarantees, securities, and investments with an aggregate limit of ₹100 crores

Key Financial Position (as of March 31, 2026)

  • Total Assets: ₹8,441.76 lakh (₹7,939.15 lakh in FY 2024-25)
  • Non-Current Borrowings: ₹1,281.22 lakh (₹1,682.22 lakh in FY 2024-25)
  • Current Borrowings: ₹0.00 lakh (₹6.00 lakh in FY 2024-25)
  • Trade Payables: ₹1,234.19 lakh (₹699.52 lakh in FY 2024-25)
  • Inventories: ₹3,110.46 lakh (₹2,056.40 lakh in FY 2024-25)
  • Trade Receivables: ₹2,108.50 lakh (₹2,540.41 lakh in FY 2024-25)
  • Cash and Cash Equivalents: ₹28.18 lakh (₹53.48 lakh in FY 2024-25)
  • Loans and Advances: ₹2,831.05 lakh (₹2,687.45 lakh in FY 2024-25)

Audit and Compliance Matters

  • Statutory Auditor: M/s Bansilal Shah & Company (Firm Registration No. 000384W)
  • Audit Fee: ₹1,50,000 for FY 2025-26
  • Secretarial Auditor: M/s B.L. Harawat and Associates
  • Internal Auditor: M/s Bansilal Shah & Company
  • Audit Opinion: Unmodified opinion without qualifications

Key Audit Matter

Recoverability and classification of trade receivables, advances, and project balances were identified as a key audit matter due to material amounts requiring assessment of ageing, recoverability, dispute status, and expected credit loss.

Contingent Liability

  • The company has a pending GST dispute with a show cause notice of ₹22,12,72,895 (excluding interest and penalty)
  • The matter is sub-judice before the Hon'ble Bombay High Court, which has granted a stay on proceedings
  • No provision has been recognized in the financial statements based on legal advice and management assessment

Default in Borrowings

  • The company defaulted in repayment of borrowings and interest to Bank of Baroda amounting to ₹90,01,141.74
  • The default period was 50 days as of March 31, 2026
  • The amount was outstanding as of the balance sheet date

Related Party Transactions

Multiple related party transactions were disclosed during the year, including loans, advances, and purchases totaling approximately ₹490 lakh across 22 parties, with closing balances of approximately ₹680 lakh.

Board and Management Details

  • Managing Director: Mr. Vijaybhai Vagjibhai Bhanshali (DIN: 05122207)
  • Chief Financial Officer: Mr. Priyank Chandrakant Parikh (DIN: 06615205)
  • Company Secretary: Mr. Mahesh Kachhawa
  • Board Strength: 6 Directors (1 Managing Director, 2 Executive Directors, 2 Non-Executive Independent Directors, 1 Non-Executive Director)

Corporate Governance

  • The company maintained all mandatory committees: Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee
  • 7 Board meetings were held during FY 2025-26 with 100% attendance by all directors
  • The company has adopted requisite policies including Whistle Blower Policy, Related Party Transactions Policy, and Code of Conduct

Voting Arrangements

  • Remote e-voting period: September 16, 2026 (9:00 AM) to September 18, 2026 (5:00 PM)
  • E-voting during AGM available for shareholders attending through VC/OAVM
  • Scrutinizer: Ms. CS Avni Chouhan, Practicing Company Secretary

Other Disclosures

  • No dividend declared for FY 2025-26
  • No bonus shares issued
  • No material orders passed by regulators or courts affecting going concern status
  • No fraud reported by auditors under Section 143(12) of Companies Act, 2013
  • No CSR obligation as provisions of Section 135 not applicable

#Tags: #VeerGlobal #AnnualReport #SEBIDisclosure #AGM2026 #FinancialResults #RightsIssue #PrivatePlacement #GSTDispute #RegulatoryCompliance #Neutral