Annual General Meeting Details
The 34th Annual General Meeting will be held on Wednesday, September 23, 2026 at 11:30 AM through Video Conferencing/Other Audio Visual Means. The business to be transacted includes:
1. Adoption of audited financial statements for FY 2025-26 and reports of Board of Directors and Auditors
2. Appointment of Mrs. Shruti A Shah (DIN: 06952245) as Director who retires by rotation
The Register of Members and Share Transfer Books will remain closed from Thursday, September 17, 2026 to Wednesday, September 23, 2026 (both days inclusive). The remote e-voting period will commence at 9:00 AM on Sunday, September 20, 2026 and end at 5:00 PM on Tuesday, September 22, 2026.
Financial Performance Highlights (Amounts in ₹ Lakhs)
Income Statement:
- Revenue from operations: 3248.45 (FY26) vs 1667.05 (FY25)
- Other Income: 80.16 (FY26) vs 121.87 (FY25)
- Total Revenue: 3328.61 (FY26) vs 1788.92 (FY25)
- Cost of Goods Sold: 2451.05 (FY26) vs 1139.93 (FY25)
- Employee benefit expense: 171.40 (FY26) vs 157.81 (FY25)
- Other expenses: 416.02 (FY26) vs 323.23 (FY25)
- EBITDA: 326.34 (FY26) vs 167.95 (FY25)
- Depreciation and amortization: 129.14 (FY26) vs 90.78 (FY25)
- Finance cost: 40.22 (FY26) vs 26.39 (FY25)
- Exceptional Items: (30.99) (FY26) vs - (FY25)
- Profit before tax: 125.79 (FY26) vs 50.78 (FY25)
- Current tax: 22.00 (FY26) vs 9.29 (FY25)
- Deferred tax: 49.39 (FY26) vs 2.35 (FY25)
- Profit after tax: 54.40 (FY26) vs 39.14 (FY25)
- Total comprehensive income: 54.40 (FY26) vs 39.14 (FY25)
Balance Sheet Highlights:
- Net Worth: 2292.32 (FY26) vs 2221.88 (FY25)
- Paid-up Equity Share Capital: ₹199,98,476 comprising 19,998,476 equity shares of ₹10 each
- Property, Plant and Equipment: ₹2343.37 lakhs (FY26) vs ₹1987.00 lakhs (FY25)
- Inventories: ₹444.86 lakhs (FY26) vs ₹244.48 lakhs (FY25)
- Trade receivables: ₹978.96 lakhs (FY26) vs ₹350.00 lakhs (FY25)
- Borrowings (Non-current): ₹378.01 lakhs (FY26) vs ₹419.90 lakhs (FY25)
- Borrowings (Current): ₹79.52 lakhs (FY26) vs ₹70.91 lakhs (FY25)
- Trade payables: ₹1212.46 lakhs (FY26) vs ₹261.97 lakhs (FY25)
Dividend and Reserves
No dividend recommended for FY26 in view of expansion plans. The closing balance of retained earnings for FY26 was ₹54.40 lakhs.
Operations and Business Overview
The company is engaged in manufacturing and marketing of oral care, skincare, personal care, cosmetic and Ayurvedic products and formulations. It focuses on quality, innovation and product development, catering to its own brands as well as third-party and contract manufacturing requirements in domestic and international markets.
The company's consumer brand 'Ayuveer' is growing with an expanding portfolio across skincare, hair care, personal care and wellness categories, sold through e-commerce platforms including Amazon, Flipkart and Myntra.
Share Capital and Fundraising
The paid-up equity share capital as on March 31, 2026 was ₹199,98,476 comprising 19,998,476 equity shares of ₹10 each.
On March 28, 2026, the board approved creation, issue, offer and allotment of Fully Convertible Warrants on a preferential basis to persons belonging to 'Promoter & Promoter Group' Category and 'Non-Promoter' Category, subject to member approval.
Director Reappointment
Mrs. Shruti A Shah (DIN: 06952245), Director, retires by rotation and being eligible, offers herself for reappointment. She holds 657,800 equity shares in the company and is the daughter of Mr. Yogesh M Shah.
Corporate Governance
The company has complied with corporate governance requirements as per SEBI Listing Regulations. The Board comprises 6 directors (2 executive, 1 non-executive non-independent, and 3 non-executive independent directors).
Six Board meetings and four Audit Committee meetings were held during the year. The company has established adequate internal financial controls systems.
Auditors
M/s. Jayesh R. Shah & Co., Chartered Accountants, continue as auditors till the conclusion of the 35th AGM. M/s. Nidhi Shah & Associates conducted the secretarial audit. Both audit reports contain no qualifications or adverse remarks.
Key Managerial Personnel Changes
Mr. Rony Shah resigned as Company Secretary and Compliance Officer effective November 12, 2025. Ms. Ashita Chittora was appointed as Company Secretary effective February 2, 2026.
Related Party Transactions
All related party transactions were in the ordinary course of business and on arm's length basis. Details are provided in Note 35 to the financial statements.
Foreign Exchange Exposure
The company has USD-denominated foreign currency loans aggregating to USD 489,442 (equivalent to ₹4.58 crores) taken for capex and working capital purposes. An exceptional foreign exchange loss of ₹30.99 lakhs was recognized due to significant INR depreciation against USD.
Future Prospects
The company continues to strengthen its presence across oral care, skincare, personal care and cosmetic segments, with growing focus on domestic and international markets. It has expanded third-party and contract manufacturing business and is now exporting products to the United States.
Other Disclosures
- The company has 64 permanent employees as on March 31, 2026
- Median remuneration of employees: ₹237,250
- No corporate social responsibility requirement applicable
- No material changes affecting financial position between year-end and report date
- No frauds reported by auditors
- No significant orders passed by regulators/courts