Shashwat Furnishing Solutions Ltd

Shashwat Furnishing Solutions Limited trading window to close from October 1, 2026 till 48 hours after declaration of unaudited financial results for the half year ending September 30, 2026

Price movement clarification

• All disclosures under SEBI LODR have been made; price move market-driven, with no pending material information.

Director and KMP changes

• Re-appoint Hitesh Karnawat as Chairman & MD for 5 years (04 Sep 2026–03 Sep 2031).
• Reason: Nomination & Remuneration Committee recommendation.
• Not debarred; holds 11,24,850 shares (53.87%).
• Lalit Ghewarchand Karnawat re-appointed as Whole-Time Director for 5 years (04 Sep 2026–03 Sep 2031).
• Not debarred; holds 250 shares (0.01%).
• Mayuri Karnawat re-appointed as Whole-Time Director for 5 years (04 Sep 2026–03 Sep 2031).
• Not debarred; holds 85,000 shares (4.07%).
• Devesh Bhati appointed as Non-Executive Independent Director (Additional) for 5 years (04 Sep 2026–03 Sep 2031).
• Profile: Company Secretary; corporate law expertise.
• Jagdish Jangid appointed as Non-Executive Independent Director (Additional) for 5 years (04 Sep 2026–03 Sep 2031).
• Profile: CA Jagdish Jangid; ~9 years in finance and governance.
• Sweta Duggar appointed as Non-Executive Independent Director (Additional) for 5 years (04 Sep 2026–03 Sep 2031).
• Profile: Sweta Duggar; governance and regulatory compliance expertise.
• Adesh Bhansali ceases as Independent Director effective 04 Sep 2026.
• Praveen Kumar Bokariya ceases as Independent Director effective 04 Sep 2026.
• Neelabh Gotecha ceases as Independent Director effective 04 Sep 2026.

AGM Details

• AGM held Aug 31, 2026, 11:00 AM to 3:20 PM; physical meeting at Jodhpur address.
• Remote e-voting facility provided; period Aug 28–30, 2026; NSDL engaged.

Key Resolutions

• Ordinary: Adopt Audited Financial Statements for year ended March 31, 2026.
• Ordinary: Re-appoint director retiring by rotation (Lalit Karnawat).
• Special: Approve sale/transfer of subsidiary investment to Mayuri Karnawat and Piyush Karnawat.

Voting Results

• Ordinary: Results to be announced within 2 working days after meeting.
• Special: Results to be announced within 2 working days after meeting.

Material Related/Party Transactions

• Transfer of subsidiary investment to Mayuri Karnawat and Piyush Karnawat; value undisclosed.

Director Changes

• Director Lalit Karnawat retires by rotation; proposed reappointment.

Financial highlights

• Standalone revenue ₹235.53 Lakhs, down from ₹468.48 Lakhs prior year.
• Standalone PAT ₹-53.76 Lakhs; previous ₹35.50 Lakhs.
• Standalone PBT ₹-53.88 Lakhs; tax ₹-0.12 Lakhs.
• Consolidated revenue ₹2395.03 Lakhs; prior ₹1351.51 Lakhs.
• Consolidated PAT ₹-35.52 Lakhs; prior ₹53.87 Lakhs.
• Consolidated PBT ₹-29.24 Lakhs; tax ₹6.29 Lakhs.
• Standalone EPS ₹-2.57; Consolidated EPS ₹-1.88.
• Cash & bank balances: Standalone ₹6.39 Lakhs; Consolidated ₹26.98 Lakhs.
• Total borrowings ₹147.95 Lakhs (LT ₹53.33; ST ₹94.62).
• Dividend: Board did not recommend any dividend for FY2025-26.

Subsidiary & strategic move

• Subsidiary: Dhruvanshi Agrotech Private Limited (80% held).
• Board approves sale of 8,000 shares for ₹27.20 Lakhs.
• Purchasers: Mrs. Mayuri Karnawat and Mr. Piyush Karnawat.
• Post-completion: Dhruvanshi Agrotech to cease as subsidiary.

Capital structure & liquidity

• Paid-up share capital ₹208.80 Lakhs; Authorized ₹500.00 Lakhs.
• Standalone current ratio 2.54; Consolidated 2.69.
• Total borrowings ₹147.95 Lakhs; LT ₹53.33 Lakhs; ST ₹94.62 Lakhs.

Governance & audit

• Statutory auditors: M/s A Y & Company reappointed for 5 years.
• Secretarial auditor: M/s Prashant Malhotra & Associates; Internal auditors: M/s Singhvi Mehta & Associates.
• Board: six directors; five board meetings held in the year.
• Independent directors provided declarations; no material weaknesses noted in ICFR.

Dividends & AGM matters

• Sixth AGM scheduled; AGM held 30 Sept 2025; Notice for 06th AGM dated 31 Aug 2026.
• e-voting facility enabled; cut-off date 24 Aug 2026.

Related party transactions

• Related party remuneration to directors: standalone ₹12.60 Lakhs; consolidated ₹23.10 Lakhs.
• Unsecured loans from directors: closing balance ₹18.64 Lakhs.
• Closing balances with related parties: Hitesh ₹1.39 Lakhs; Mayuri ₹1.04; Lalit ₹1.09.

Management discussion & outlook

• MD&A notes global resilience; India remains growth leader with infra and manufacturing expansion.
• Near-term profitability pressures due to demand and input-cost dynamics; long-term demand supported by urbanization.

Notes on governance & compliance

• Code of Conduct and ethics in place; whistleblower policy active.
• Company not required to file Corporate Governance Report due to SME listing status.

Secretarial Auditor change

• Board appointed Puneet Sahtani as Secretarial Auditor for FY2025-26 in May 2025.
• Sahtani informed on 30 Jun 2026 he could not continue due to COP surrender.
• Board appointed M/s Prashant Malhotra & Associates as Secretarial Auditor for FY2025-26 on 01 Jul 2026.
• New auditor holds COP No. 18880 (Company Secretaries).
• Firm specializes in corporate compliance and secretarial services; appointment for the 2025-26 year only.

Key details

• Target Company: Shashwat Furnishing Solutions Limited.
• Disclosing Party: Hitesh Karnawat, promoter.
• Transaction Type: Acquisition of 9,000 equity shares.
• Pre-Transaction Holding: 1,115,850 shares (53.44%).
• Transaction Details: 9,000 shares acquired, 0.43% of total.
• Mode/Instrument: Open market purchase of equity shares.
• Date of transaction: 23 June 2026.
• Post-Transaction Holding: 1,124,850 shares (53.87%).
• Equity share capital before/after: Rs 20,880,000 (2,088,000 shares).
• Total diluted share capital: Rs 20,880,000 (2,088,000 shares).