Starlite Components Ltd

Starlite Components Ltd – Closure of Trading Window from Oct 01, 2026 till 48 hours after the declaration of Unaudited Financial Results (both days inclusive) for the quarter and half year ended September 30, 2026

Financial performance

• Revenue from operations: 186.32 Lakhs in FY2025-26.
• Total income: 187.74 Lakhs in FY2025-26.
• Profit before tax: -7.66 Lakhs; Exceptional items: 6.42.
• Profit after tax: -7.09 Lakhs.
• Earnings per share: Basic and Diluted -0.04 Rs.
• Current ratio: 2.20; Debt-to-equity: -3.12.
• Return on equity: 14.83%; Net capital turnover: 2.32x.
• Trade receivables (current): 24.88 Lakhs, down from 52.17.
• Dividend: No dividend declared for FY2025-26.

Capital structure & dividends

• Authorized capital: 1,800 Lakhs; issued and paid-up: 1,710 Lakhs.
• Capital reduction planned under the approved resolution plan.
• Plan to meet 5% public shareholding; Interlocutory Application filed with NCLT; awaiting approval.
• Promoter Solar Copyer Limited holds 28.71%.
• No change in authorized or issued capital during the year.

Operational & CIRP status

• CIRP concluded; Monitoring Committee dissolved; Reconstituted Board formed Feb 12, 2025.
• Revenue declined due to tightened market conditions.
• Associate Solar Copyer Limited holds 28.71% stake.
• Arbitration with Ambernath Municipal Corporation pending.
• No subsidiaries; only associate Solar Copyer Limited.
• Issuance under resolution plan: 35,000 shares to Solar Copyer; 15,000 to Rutwik; others subject to NCLT.

Governance & internal controls

• Statutory auditors issued qualified opinion due to CIRP.
• Internal financial controls have material weaknesses; strengthening needed.
• Secretarial audit flagged website data not maintained.
• Board comprises four directors: one Executive, three Independent.
• Independent Directors held separate meeting to evaluate performance.

Related party & risk disclosures

• Related party: Solar Copyer Limited; labour charges 177.01 Lakhs.
• Factory rent paid to Reprolite Paper (I) Pvt Ltd: 4.01 Lakhs.

Regulatory & compliance notes

• Public shareholding norm under CIRP; Interlocutory Application filed with NCLT.
• SDD non-compliant; website data issues flagged.
• CSR requirements not applicable.

AGM & corporate actions

• 35th AGM scheduled for Sept 30, 2026; ordinary business includes adoption of financials and reappointment.
• Secretarial Auditor Anirudh Kumar Tanvar appointed for 2026-31.

Key FY2025-26 highlights

• CIRP concluded; NCLT approved resolution plan; Monitoring Committee dissolved; Reconstituted Board now exercises powers.
• 35th AGM scheduled for 30 September 2026; notice and Annual Report circulated.
• Revenue from operations 2025-26: 186.32 lakh; total income 187.74 lakh; large decline vs prior year.
• Profit before tax: -7.66 lakh; profit after tax: -7.09 lakh; exceptional item of 6.42 lakh.
• Public shareholding to be addressed via modified resolution plan to meet 5% minimum public holding.
• Proposed reduction of existing share capital; fresh equity to resolution applicant and others; final numbers await NCLT approval.
• Auditors flag material going-concern uncertainty due to CIRP; trading suspended by BSE pending resolution plan modifications.
• Dividend for FY2025-26 not declared.
• Key governance details: four directors; MD as chair; three independent directors; board meetings in FY2025-26.

AGM Details

• 35th AGM set for Sept 30, 2026 at 5:00 PM at registered office.
• Book closure from Sept 23 to Sept 29, 2026 (inclusive).
• Notice of AGM approved by Board.

Resolutions

• Ordinary: adopt Audited Financial Statements for FY 2025-26.
• Ordinary: re-appoint Mahesh Bhagwandas Bakliwal by rotation.
• Ordinary: appoint Anirudh Kumar Tanvar as Secretarial Auditor (Apr 2026–Mar 2031).
• Special: approve managerial remuneration up to Rs 3 crore per annum.
• Any Other Matter as considered necessary.

Voting Results

• Voting results not disclosed in this filing.

Dividend

• Dividend details not disclosed in the filing.

Director Changes

• Re-appointment of director by rotation: Mahesh Bhagwandas Bakliwal.

Auditor Appointments

• Secretarial Auditor appointment: Anirudh Kumar Tanvar; tenure Apr 1, 2026–Mar 31, 2031; remuneration to be fixed by Board.

Material Related Party Transactions

• No material related party transactions disclosed.

Standalone financial highlights

• Q1 FY27 unaudited standalone results approved by the Board; Limited Review by Sharp Aarth & Co LLP.
• Total income 64.71 Lakhs and revenue from operations 64.38 Lakhs for quarter ended 30 Jun 2026.
• Total expenses 68.00 Lakhs; sub-contracting expenses 61.17 Lakhs; employee benefits 2.25 Lakhs.
• Profit before tax shows a loss of 3.29 Lakhs; after tax loss of 3.40 Lakhs.
• Tax expense for quarter includes 0.10 Lakhs; net loss after tax -3.40 Lakhs; Basic EPS -0.02.
• LED Products is the single primary reportable segment; no change in operating segment.
• 5% public shareholding requirement under amended CIRP rules; NCLT modification application filed.
• Arbitration with Ambernath Municipal Council ongoing; escrow arrangement to continue until total dues realized.
• Unaudited results prepared under Ind AS; Audit Committee reviewed; results announced Aug 13, 2026.
• CIRP updates: monitoring committee dissolved Feb 12, 2025; reconstituted board.

Key outcomes and regulatory updates

• Un-audited standalone Q1 FY2026 results approved; quarter ended 30 June 2026; Limited Review attached.
• CIRP plan modification: Interlocutory Application filed with NCLT Mumbai; next hearing 07 Sept 2026.
• 5% public shareholding requirement under SEBI to be met via plan modification; listing/trading pending.
• Arbitration proceedings against Ambernath Municipal Council; Sole Arbitrator; escrow arrangement continues.
• LED Products identified as the single reportable operating segment; no change.
• Outstanding debt Rs 160 Lakhs treated as non-interest per resolution plan; debt measured at cost.
• Monitoring Committee reconstituted the Board and dissolved on 12 Feb 2025.
• Next hearing date 7 September 2026 for IA; shares issuance may occur post-approval.

Meeting Details

• Board meeting scheduled for August 13, 2026; time and venue not disclosed.

Key Agenda Items

• Un-Audited financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window closed; will reopen 48 hours after results announcement.

Dematerialisation/rematerialisation status

• Securities received for dematerialisation were processed and confirmed to the depositories.
• Dematerialised securities have been listed on the relevant stock exchanges.
• Certificates were mutilated and cancelled after verification; registered owner updated to the depository.