Luxury Time Ltd

Order details

• Awarding authority: Office of the Regional Director (Northern Region-I), MCA.
• Order: Final Compounding Order under Section 441 for default under Section 129.
• Default: non-preparation and filing of consolidated financial statements of its associate company for FY 2019-20 to 2023-24.
• Compounding fee: ₹1,00,000 per year; total ₹5,00,000; paid by directors Ashok Goel and Pawan Chohan.
• No compounding fee payable by Luxury Time Limited; no material impact on finances or operations.
• Date of order/receipt: order dated 21 Sep 2026; receipt 25 Sep 2026.
• Action: file INC-28 with ROC; comply within applicable timeline.
• Related party/arm's length: involves director applicants; no explicit related party transaction or arm's-length assessment stated.
• Domestic: Yes; authority is Indian MCA.
• Material impact: None reported; no financial impact; no fee payable by company.

Resolution

• Special Resolution: Variation in IPO proceeds objects; approved by requisite majority.
• Voting results: 16 members voted; 6,139,628 in favor; 0 against; 0 abstained.
• Period: remote e-voting opened Aug 27 and closed Sep 25, 2026.
• Impact: variation in IPO proceeds usage for shareholders.

Luxury Time Ltd: Trading window closed from 01 October 2026 until 48 hours after the half-year ended 30 September 2026 results.

AGM Details

• AGM held on 21 September 2026; remote e-voting Sept 18–20 and poll at AGM.

Key Resolutions

• Resolution 1: Adoption of standalone and consolidated financial statements and audit report.
• Resolution 2: Re-appointment of Mr. Pawan Chohan as Director liable to retire by rotation.
• Resolution 3: Appointment of Statutory Auditors to fill casual vacancy caused by resignation.

Voting Results

• Resolution 1 passed unanimously; all votes in favour.
• Resolution 2 passed unanimously; all votes in favour.
• Resolution 3 passed unanimously; all votes in favour.

Director & Auditor Changes

• Director changes: Re-appointment of Pawan Chohan as director liable to retire by rotation.
• Auditor changes: Casual vacancy appointment of statutory auditors.

AGM Details

• Date and time: 21 September 2026, 3:00 P.M. IST
• Venue: Hotel City Park, Poorvi Pitampura, New Delhi
• Mode: physical AGM with remote e-voting
• Notice dispatched: 19 August 2026; e-voting window 18–20 September 2026
• Attendance: All Directors present except one Independent Director
• Proxies: No proxies were received

Key Resolutions

• Receive, consider and adopt audited standalone and consolidated financial statements for FY ended Mar 31, 2026
• Re-appointment of Mr. Pawan Chohan by rotation
• Appointment of M/s SAHAS & Associates as Statutory Auditors to fill casual vacancy

Voting Status

• Voting results to be declared via consolidated Scrutinizer report
• Results to be posted on company and NSDL websites

Resolutions

• Purpose: Special Resolution to vary the IPO proceeds utilisation.
• Net proceeds available for revised objects: ₹1,332.00 lakh (₹13.32 crore).
• Four stores: ₹300.00 lakh.
• Strategic investments or acquisitions: ₹1,000.00 lakh.
• General corporate purposes: ₹32.00 lakh.
• Revised objects to be implemented by 31 March 2028.
• Exit offer to dissenting shareholders if applicable by promoters.
• Voting period: 27 Aug 2026 to 25 Sep 2026.
• Eligibility cut-off: 21 Aug 2026.
• Results to be declared by 28 Sep 2026.
• Interim use: unutilised proceeds held in monitoring account.
• Stores operated directly; locations to be determined by Board.
• No part of net proceeds will be used for buying listed equity shares.

Financial snapshot

• Standalone revenue from operations: ₹5,391.20 Lakhs; flat YoY.
• Consolidated revenue from operations: ₹5,999.32 Lakhs.
• Standalone PAT: ₹561.98 Lakhs; Consolidated PAT: ₹552.58 Lakhs.
• EPS (standalone): ₹8.04; EPS (consolidated): ₹7.91.
• IPO completed; listed on BSE SME on 11-Dec-2025; ₹18.74 Crore issue.

IPO & listing milestones

• Total IPO issue size ₹18.74 crore; Fresh Issue ₹1,499.62 lakh; Offer for Sale ₹373.92 lakh.
• Shares listed on BSE SME (Scrip 544635) on 11 December 2025.

Capital structure & ownership

• Paid-up capital increased to ₹825.48 Lakhs; 82,54,828 shares outstanding.
• Promoters: Ashok Goel 45.62%; Pawan Chohan 22.93%.

Liquidity & balance sheet strength

• Debt-free at year-end; no borrowings.
• Closing cash and bank balances ₹387.96 Lakhs; current ratio 3.95x.

Operations & revenue mix

• Single luxury watch segment; distribution, retail, servicing.
• Service revenue grew to ₹559.17 Lakhs; 10.37% of total revenue.

Governance & board changes

• Board expanded in 2025 with Masha Goel; Sonali Aggarwal joined later in 2025.

Joint ventures & subsidiaries

• Pasadena Retail Private Limited: 50% JV; Micron Watch Service Private Limited: 49.9%.
• JVs not consolidated; investments reflect proportionate share.

CSR & ESG update

• CSR policy adopted; contributed ₹6.85 Lakhs to PM CARES Fund in 2025-26.
• CSR Committee constituted 14 Aug 2026.

Outlook & risks

• India luxury watch demand supported by premiumisation and organised channels; watch for macro risks.

Whistle Blower Policy adopted

• Board approved and adopted revised Whistle Blower Policy on August 14, 2026.
• Policy updated to align with Companies Act 2013 and SEBI LODR regulations.
• Policy strengthens vigil mechanism and protects whistle blowers from retaliation.
• Policy placed on the company's website for stakeholder information.
• Policy comes into effect from the date of Board approval.