Shiva Granito Export Ltd

Shiva Granito Export Limited trading window closure from 01 October 2026 till 48 hours after the declaration of the Unaudited Financial Results for the Half Year ended 30 September 2026 for Connected/Designated Persons

AGM details

• Date: 30 September 2026; Time: 11:30 AM IST; Mode: Physical at registered office.
• Remote e-voting available 27–29 September; ballot papers used at meeting.

Key resolutions

• Adoption of financial statements for year ended 31 March 2026.
• Re-appointment of Rachna Upadhyay by rotation.
• Re-appointment of statutory auditor M/s Ankit Suresh Jain & Co.
• Regularization and appointment of Krati Maheshwari as Non-Executive Independent Director for one year.
• Regularization and appointment of Rekha Panwar as Non-Executive Independent Director for five years.

Voting results

• All resolutions passed at the AGM; no dissent noted.

Director movements

• Rachna Upadhyay re-appointed by rotation.
• Krati Maheshwari appointed as NEDI for one year.
• Rekha Panwar appointed as NEDI for five years.

Auditor appointments

• M/s Ankit Suresh Jain & Co. re-appointed as statutory auditor.

Financial performance

• Revenue from operations Rs 1,173.00 Lakh in FY2025-26, up from Rs 860.49 Lakh.
• Profit before tax Rs 1.46 Lakh; tax Rs 7.26 Lakh; net loss Rs 5.80 Lakh.
• Total expenses Rs 1,176.75 Lakh; margins near breakeven.
• Earnings per share: Basic and diluted Rs (0.04).

Dividends and reserves

• Dividend for FY2025-26 not recommended.
• Loss carried to balance sheet; no transfer to reserves.

Capital structure & liquidity

• Equity share capital Rs 1,321.51 Lakh; 13,215,050 shares.
• Net worth around Rs 23.94 crore.
• Bank borrowings include working capital loan from Bank of Baroda; director loans.

Governance & AGM

• 11th AGM scheduled 30 Sep 2026 at Udaipur.
• Krati Maheshwari and Rekha Panwar regularized as Independent Directors for one year from AGM.
• M/s Ankit Suresh Jain & Co reappointed as Statutory Auditors for two years.
• Earlier Independent Directors Vishal Jain and Chanchal Nuwal resigned in 2025; Satish Heda joined 01.09.2025; resigned 10.03.2026.

Auditor observations & internal controls

• Auditor’s report contains qualified opinion due to non-provision for expected credit losses on receivables.
• Inventory valuation not provided due to lack of stock records; potential adjustments noted.
• MSME interest on delayed payments not provided; gratuity provision not recognized.
• Audit trail facility not operated throughout the year; internal controls flagged.
• Secretarial audit notes delays in BSE filings; board composition reforms underway.

Related party transactions

• All related party transactions are at arm's length.
• Some RPTs with KMPs and entities connected to directors disclosed in Annexure A.

Taxation & regulatory matters

• Income tax demands outstanding across multiple assessment years; total significant exposure.
• VAT/CGST disputes; company has filed appeals with authorities.

Outlook & risk

• Management aims to grow turnover and improve performance in coming years.
• Material impairment risk from ECL provisions and inventory valuation remains a key risk.

AGM Details

• 11th AGM on 30 September 2026 at 11:30 AM at registered office, Udaipur.
• Physical meeting with remote e-voting facility via NSDL.
• Register of Members/Share Transfer Books closed 24 Sep to 30 Sep 2026.
• Remote e-voting period: 27 to 29 September 2026.

Key Resolutions

• Adoption of Audited Financial Statements for the year ended 31 March 2026.
• To re-appoint Rachna Upadhyay as Director by rotation.
• To re-appoint M/s Ankit Suresh Jain & Co as Statutory Auditors.
• Regularize Krati Maheshwari as Non-Executive Independent Director for one year.
• Regularize Rekha Panwar as Non-Executive Independent Director for one year.

Director Changes

• Krati Maheshwari regularized as Non-Executive Independent Director.
• Rekha Panwar regularized as Non-Executive Independent Director.

Auditor Appointments

• Statutory Auditor re-appointed for two years (2026–2028) with Board-determined remuneration.
• Remuneration to be decided by the Board.

Other Material Approvals

• Board authorized to implement the resolutions and related actions.
• NSDL e-voting facility provided; voting window ends on 29 Sept 2026.

Book closure details

• Book closure: 24 September 2026 to 30 September 2026 inclusive
• Purpose: for the 11th Annual General Meeting
• Record date for voting: 23 September 2026
• AGM date and time: 30 September 2026 at 11:30 AM
• Security: Equity shares
• E-voting period: 27 September 2026 09:00 to 29 September 2026 17:00

Management changes

• Krati Maheshwari appointed as additional Non-Executive Independent Director for five years, effective 11 Aug 2026.
• Rekha Panwar appointed as additional Non-Executive Independent Director for five years, effective 11 Aug 2026.
• Both appointed as members of Audit Committee and Nomination & Remuneration Committee.
• Term subject to regularization by shareholders at the ensuing AGM.
• Audit Committee: Rekha Panwar as Chairperson; Krati Maheshwari as Member.
• Nomination & Remuneration Committee: Rekha Panwar as Chairperson; Krati Maheshwari as Member.
• Disclosures: both not related to any director or relatives.
• Disclosures: both not debarred from holding office.

Dematerialisation status

• Regulation 74(5) not applicable as all shares are in demat form.
• No rematerialisation requests were received during the quarter ended 31 March 2026.

Audit findings & financials

• Standalone audited results for half-year and year ended 31-03-2026 released.
• Auditor qualified opinion due to lack of provisions for receivables, inventories, MSME interest, and gratuity.
• Trade receivable credit loss provision of Rs 7.74 crore not made.
• Inventory valuation not provided due to stock-record gaps.
• MSME interest on delayed payments not provided; impact not quantified.
• Gratuity provision not made; actuarial valuation not conducted.
• Total revenue for half-year ended 31-03-2026: Rs 963.02 Lakhs.
• Net profit for the period: Rs -5.88 Lakhs.
• Basic EPS: Rs -0.04; Diluted EPS: Rs -0.09.
• Results prepared under Ind AS 34; balancing figures between audited year and unaudited figures.

Key disclosures from board meeting

• Board approved standalone audited results for half-year and year ended 31 March 2026.
• Auditor's report carries a qualified opinion.
• Key qualification: no provision for trade receivables ₹7,74,37,115 under Ind AS 109.
• Inventory valuation not provided due to lack of stock records as of 31-03-2026.
• No interest payable provision for MSMEs on delayed payments.
• Gratuity provision not made; actuarial valuation not conducted.
• Balancing figures reflect full-year audited results with unaudited year-to-date figures.

Meeting Details

• Board meeting on 06 August 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve the audited standalone financial results for half-year and year ended March 31, 2026.

Other Notes

• No additional material notes disclosed.