Key Quantitative Figures

  • Revenue from Operations: ₹41.95 crore (FY26) vs ₹25.51 crore (FY25)
  • Net Profit After Tax: ₹1.77 crore (FY26) vs ₹1.76 crore (FY25)
  • Earnings Per Share (Basic): ₹3.01 (FY26) vs ₹3.30 (FY25)
  • Earnings Per Share (Diluted): ₹3.01 (FY26) vs ₹2.84 (FY25)
  • Total Expenses: ₹39.58 crore (FY26) vs ₹23.18 crore (FY25)
  • Current Tax Expense: ₹53.72 lakh (FY26) vs ₹58.64 lakh (FY25)
  • Deferred Tax Charge: ₹5.54 lakh (FY26) vs ₹(1.04) lakh (FY25)
  • Paid-up Equity Share Capital: ₹6.19 crore (61,89,600 equity shares of ₹10 each)
  • Authorized Share Capital: ₹25.00 crore

Dates of Action

  • AGM Date: Tuesday, 15th September 2026 at 2:30 PM
  • Record Date for E-voting: Tuesday, 8th September 2026
  • Remote E-voting Period: 12th September 2026 (9:00 AM) to 14th September 2026 (5:00 PM)
  • Board Meeting Dates: 8 meetings held during FY26 on 04-04-2025, 29-05-2025, 05-06-2025, 01-08-2025, 01-09-2025, 11-11-2025, 31-12-2025, and 13-01-2026
  • Warrant Conversion Date: 1st August 2025
  • Financial Year: 1st April 2025 to 31st March 2026

Parties Involved

  • Stock Exchange: Bombay Stock Exchange Ltd.
  • Statutory Auditors: M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W)
  • Registrar & Transfer Agent: KFin Technologies Pvt. Ltd.
  • Secretarial Auditor: M/s. Sonu Jain & Co., Company Secretaries
  • Internal Auditor: PHP & Associates, Chartered Accountants
  • Bankers: Axis Bank Limited (Cash Credit), Tata Capital Limited (Vehicle Loans), Mahindra Finance Limited (Vehicle Loans)

AGM Agenda Items

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

2. Ordinary Business: Re-appointment of M/s. Panchal S K & Associates as Statutory Auditors for 5 years (until FY 2030-31 AGM)

3. Ordinary Business: Re-appointment of Mr. Vishal Tiwari (DIN: 08530704) as Director retiring by rotation

4. Special Business: Appointment of Ms. Malvika Jagani (DIN: 11409166) as Non-Executive Independent Director for 5 years (24th April 2026 to 23rd April 2031)

Capital Structure Impact

  • Preferential allotment of 8,56,872 Equity Shares at ₹51 per share (including premium of ₹41 per share) upon conversion of warrants
  • Increased paid-up capital from ₹5.33 crore to ₹6.19 crore
  • Warrant holders belonged to Promoter Group and Non-Promoter Category

Director Appointments/Changes

  • Ms. Malvika Jagani appointed as Additional Non-Executive Independent Director effective 24th April 2026
  • Ms. Khyati Bhavya Shah resigned as Non-Executive Independent Director on 9th April 2026
  • Ms. Shivani Tiwari appointed as CFO effective 5th June 2025 (replacing Ms. Niyati Navinbhai Panchal)

Financial Performance Highlights

  • Revenue Growth: 64.5% year-on-year increase
  • Profit Margin: 4.23% net profit margin (FY26) vs 6.89% (FY25)
  • Inventory Value: ₹14.07 crore (FY26) vs ₹8.70 crore (FY25)
  • Trade Receivables: ₹13.58 crore (FY26) vs ₹13.84 crore (FY25)
  • Cash & Cash Equivalents: ₹1.03 crore (FY26) vs ₹1.25 crore (FY25)

Borrowings and Security

  • Vehicle Loans: ₹46.95 lakh from Tata Capital Limited (21 vehicles) and ₹359.65 lakh from Mahindra Finance Limited (68 vehicles)
  • Cash Credit: ₹649.96 lakh from Axis Bank Limited
  • Security: Hypothecation of vehicles for specific loans; Hypothecation of current assets and mortgage of properties for cash credit facility

Corporate Governance

  • Board comprises 5 directors including 2 independent directors
  • Committees formed: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee
  • Whistle Blower Policy and Vigil Mechanism established
  • No dividend recommended for FY26

Compliance Status

  • No material orders passed by regulators/courts impacting going concern status
  • No fraud reported by auditors under Section 143(12) of Companies Act, 2013
  • No deposits accepted from public under Section 73 of Companies Act, 2013
  • CSR provisions not applicable to company
  • No sexual harassment complaints received during FY26

Auditor Reports

  • Statutory Auditors: Unmodified opinion on financial statements
  • Secretarial Auditor: Generally compliant with minor delays in filing certain forms (CHG-1 and MGT-14)
  • Internal Financial Controls: Adequate and operating effectively

Related Party Transactions

  • Transactions with related parties in ordinary course of business at arm's length
  • Details provided in Form AOC-2 annexure to Director's Report
  • Total remuneration to KMPs: ₹31.24 lakh for FY26