Annual Report of F.Y 2024-25 with notice attached herewith.
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Gujarat Winding Systems Limited (formerly Hi-Tech Winding Systems Limited) submitted its Annual Report for FY 2024-25 to BSE. Gross income surged to Rs. 29.80 lakh from Rs. 2.24 lakh in the previous year, with net profit after tax rising to Rs. 5.85 lakh from Rs. 0.18 lakh. The company did not recommend any dividend, citing resource conservation. During the year, authorised share capital was raised from Rs. 6 crore to Rs. 50 crore, and the company name was changed via special resolution dated 26 December 2024. The AGM is scheduled for 16 September 2025, with shareholders to vote on adopting financials and appointing M/s. Nirav S Shah & Co. as statutory auditors for five years (FY 2025-26 to FY 2029-30). The Secretarial Auditor flagged several compliance gaps including absence of an internal auditor, missing newspaper publication of quarterly results for June and September 2024, and non-appointment of a Managing Director.
For shareholders: Strong year-on-year revenue and profit growth signals business recovery, though absolute numbers remain very small. The massive jump in authorised capital and company name change suggest strategic restructuring plans. The multiple secretarial compliance lapses and key management exits (Company Secretary resignation, Director death) are governance red flags worth monitoring.