Innovative Ideals and Services (India) Ltd

Innovative Ideals and Services (India) Ltd — Closure of Trading Window

Document details

• Page shows digital signature and timestamp dated 2026-09-08.

document excerpt status

• No AGM details (date, resolutions, results) disclosed in this chunk.

AGM Details

• Date/time: 30 September 2026 at 04:00 PM via VC/OAVM.
• Cut-off for voting on AGM resolutions: 23 September 2026.
• Book closure: 24 September 2026 to 30 September 2026.
• Remote e-voting window: 26 September 2026 09:00 to 29 September 2026 17:00.
• Record date for e-voting: 23 September 2026.

Key Resolutions

• Ordinary: Adoption of Audited Financial Statements for year ended 31 March 2026.
• Ordinary: Re-appointment of Mrs. Tazyeen Maqsood Shaikh as Director, retires by rotation.
• Special: Re-appointment of Parvez Yunus Sayyed as Independent Director for second term (2027–2032).
• Special: Re-appointment of Mayank Suresh Gala as Independent Director for second term (2027–2032).
• Ordinary: Appoint NNJ & Co. as Secretarial Auditor for FY2026-27 to FY2030-31.

Dividend

• Dividend: No dividend declared for FY2025-26.

Director/Management Changes

• Re-appointment of Tazyeen Maqsood Shaikh as Whole-time Director (retiring by rotation).
• Independent Directors Sayyed and Gala to continue for second five-year terms.

Auditors

• Secretarial Auditor NNJ & Co. appointed for 5 years; remuneration Rs 50,000 plus taxes/expenses.
• Statutory Auditor: Existing firm continued; no change proposed.

Material Related Party Transactions

• Loans from Directors outstanding Rs 632.98 Lakhs as of 31 Mar 2026.
• Repayment on demand; prior member approvals for director loans not obtained.

Financial performance

• Revenue from operations: 54.29 Lakh in FY2025-26, down from 322.34 Lakh prior year.
• Total income: 54.29 Lakh; prior year 373.23 Lakh.
• Profit before tax: -934.56 Lakh, versus 135.29 Lakh prior year.
• Profit after tax: -934.89 Lakh, versus 100.39 Lakh prior year.
• Earnings per share: -8.22 Rs; prior year 0.88 Rs.

Liquidity and leverage

• Total debt: 1986.63 Lakh; long-term 869.94 and short-term 483.71 borrowings plus director loan 632.98 Lakh.
• Share capital: Rs 11.38 Crore; net worth negative Rs 510.21 Lakh.
• Current ratio: 0.06 times; liquidity stressed.
• Cash and cash equivalents: Rs 5.35 Lakh; total current assets Rs 55.75 Lakh.

Dividends and reserves

• Dividend for FY2025-26: not declared.
• Net loss transferred to Reserve and Surplus: Rs 934.89 Lakh.

Business operations and inventory

• Business: security systems and mobile phones; no change in nature.
• Inventory: closing stock 50.40 Lakh; prior year 377.49 Lakh.
• Distress sale: inventory disposed for Rs 54.29 Lakh in FY2025-26.
• Inventory valued at cost; NRV is not provided beyond notes.

Governance and audits

• Secretarial auditor NNJ & Co appointed for 2026-31; fee Rs 50,000 for 2026-27.
• DIN deactivation of Mayank Gala raised compliance concerns.
• Loans from directors exceeding materiality thresholds; member approvals pending disclosures.

Audit and internal controls

• Statutory auditor: Keyur Shah & Associates; going concern emphasis in audit report.
• Internal controls: adequate but inventory valuation and balance confirmations flagged.
• Secretarial audit noted non-submission of Corporate Governance Non-Applicability Certificate.

Tax, regulatory and litigation

• Statutory dues pending: IT and GST disputes; several appeals filed.
• Pending litigation: Rs 74.20 Lakh for recovery of dues.
• Management implementing compliance enhancements.

Outlook and risks

• Management focusing on stabilising operations, revenue revival, and cost control.
• Significant liquidity and net-worth challenges persist; going concern risk noted by auditors.
• Revival depends on improving volumes and cash flows.

Board decisions

• Re-appoint Director Mrs. Tazyeen Magsood Shaikh, liable to retire by rotation, effective 07 September 2026.
• Re-appointment of Parvez Yunus Sayyed as Non-Executive Independent Director, effective 01 June 2027.
• Re-appointment of Mayank Suresh Gala as Non-Executive Independent Director, effective 24 July 2027.
• Appointed M/s. NNJ & Co. as Secretarial Auditor for FY 2026-27 to FY 2030-31 (5-year term).
• Board-approved Directors' Report and Annexures for FY 2025-26.
• Fixed date, time and venue for the Annual General Meeting.
• Fixed Book Closure Date for the Annual General Meeting.
• Notice for calling the upcoming Annual General Meeting.

Demat/remat status

• No dematerialisation/rematerialisation requests were received during the quarter ended 30 June 2026.
• Regulation 74(5) not applicable since the entire holding is in demat form.