AGM Details

  • Meeting Date: Wednesday, 30th September, 2026 at 11:30 a.m.
  • Venue: Registered office at Plot No. 15, Road 10, Sec -1 New Panvel East, Raigarh, Navi Mumbai, Maharashtra, India, 410206
  • Record Date: 23rd September, 2026 (for determining shareholders entitled to vote)
  • Book Closure: From 18th September, 2026 to 30th September, 2026 (both days inclusive)

Agenda Items

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026 together with Reports of Board of Directors and Statutory Auditors.

2. Re-appointment of Director: Mrs. Sumanlata Dhareshwar (DIN: 07027595) retires by rotation and offers herself for re-appointment.

Special Business

3. Appointment of Secretarial Auditor: To appoint CS Mayuri Rupareliya, Practicing Company Secretary (COP No. 18634) from M Rupareliya & Associates as Secretarial Auditor for FY 2026-27.

Financial Performance Highlights (Standalone)

| Particulars | FY 2025-26 (₹ Lakhs) | FY 2024-25 (₹ Lakhs) |

| Income from operations | 1,956.01 | 1,071.76 |

| Other Income | 0.92 | 0.03 |

| Total revenue | 1,965.93 | 1,071.79 |

| Total Expenses | 1,942.47 | 1,966.11 |

| Profit before tax | 23.05 | (894.33) |

| Deferred Tax Charge | (0.09) | 0.4 |

| Profit after tax (PAT) | 22.96 | (894.29) |

| Total Comprehensive Income | 22.96 | (894.29) |

Key Financial Position (As at March 31, 2026)

  • Equity Share Capital: ₹38.96 lakhs (unchanged from previous year)
  • Other Equity: Negative ₹768.72 lakhs (improved from negative ₹791.09 lakhs)
  • Trade Receivables: ₹451.64 lakhs (increased from ₹111.38 lakhs)
  • Cash and Cash Equivalents: ₹28.22 lakhs (decreased from ₹30.29 lakhs)
  • Short Term Borrowings: ₹4,677.03 lakhs (decreased from ₹5,219.88 lakhs)
  • Trade Payables: ₹476.34 lakhs (increased from ₹66.19 lakhs)

Board and Committee Composition

Board of Directors

  • Pankaj Narendra Saxena - Managing Director & CFO
  • Chaitanya Bharat Dhareshwar - Non-executive Director
  • Sumanlata Dhareshwar - Non-executive Director
  • Uma Krishnan - Independent Director
  • Rishi Dharampal Aggarwal - Independent Director
  • Nitesh Pratapray Mehta - Independent Director

Key Managerial Personnel

  • Pankaj Narendra Saxena - Managing Director and Chief Financial Officer & Company Secretary
  • Harshvardhan Barve - Compliance Officer

Auditor Information

  • Statutory Auditor: M/s B.B. Gusani & Associates, Chartered Accountants
  • Secretarial Auditor: CS Mayuri Rupareliya, M/s M Rupareliya & Associates
  • Internal Auditor: M/s D G M S & CO., Chartered Accountants, Jamnagar

Corporate Governance

  • The Company is listed on BSE SME platform and exempt from certain corporate governance requirements
  • Board met 4 times during FY2025-26
  • Audit Committee met 4 times during the year
  • Nomination and Remuneration Committee met 1 time during the year
  • Stakeholders Relationship Committee met 1 time during the year
  • No complaints received under Sexual Harassment policy during the year

Dividend Declaration

No dividend recommended for the year under review due to accumulated losses, though the company returned to profitability.

Auditor Reports

Statutory Auditor Report (B.B. Gusani & Associates)

  • Unqualified opinion on financial statements
  • No fraud reported under Section 143(12) of Companies Act, 2013
  • No material uncertainty regarding going concern
  • Internal financial controls found adequate and operating effectively

Secretarial Audit Report (M. Rupareliya & Associates)

  • Generally compliant with applicable statutes
  • Noted several compliance issues:
  • Company CIN indicates unlisted status despite being listed on BSE SME
  • Undisclosed group company "Wherrelz Corporation" incorporated outside India
  • Inadequate maintenance of board meeting minutes
  • Delayed filing of shareholding pattern (BSE imposed ₹11,800 fine)
  • Delayed submission of shareholder complaint statement (BSE imposed ₹22,420 fine)
  • Non-submission of Share Capital Audit Report for December 2025 quarter
  • Delayed AGM voting results submission (AGM held September 30, 2025, results filed October 27, 2025)
  • Delayed filing of MGT-7 since FY2023-24

Other Significant Disclosures

  • No change in share capital during the year
  • No subsidiaries, joint ventures or holding company
  • No deposits accepted during the year
  • No loans, guarantees or investments under Section 186 of Companies Act, 2013
  • No material related party transactions
  • No application under Insolvency and Bankruptcy Code, 2016
  • CSR provisions not applicable to the company
  • No foreign exchange earnings or outgo

Voting Arrangements

  • Remote e-voting through NSDL from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
  • Physical voting at AGM venue
  • Scrutinizer: CS Mayuri Rupareliya appointed to conduct voting process

Registered Office and Contact Information

  • Registrar & Share Transfer Agent: Bigshare Services Private Limited, Mumbai
  • Banker: YES Bank
  • Investor Contact: Mr. Harshvardhan Barve (Compliance Officer) - +919179383838