Pursuant to Regulation 30 and 34(1) of SEBI(LODR) Regulation, 2015, we enclose herewith the Annual Report of the Company for the Financial Year ended March 31 2025 along with Notice of ....
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Mitshi India Ltd (formerly Dera Paints & Chemical Ltd) submitted its 35th Annual Report for FY ended March 31, 2025, along with the notice for its 35th AGM scheduled for September 25, 2025 at 1:00 PM via video conferencing. Total income dropped sharply to Rs. 457.68 lakhs from Rs. 2,023.69 lakhs in FY24, while profit after tax fell to Rs. 3.56 lakhs (from Rs. 12.11 lakhs) and EPS slipped to Rs. 0.04 (from Rs. 0.14). The company has shifted to trading in fruits and vegetables and software services, and did not recommend any dividend citing insufficient profits. The AGM notice also seeks shareholder approval to appoint M K Samdani & Co as Secretarial Auditors for five years (FY 2025-26 to FY 2029-30) and to re-appoint Managing Director Kumar Vasantlal Shah, who retires by rotation.
Sharp revenue decline and a thin profit margin suggest weak operating performance, though the stock is a small-cap (paid-up capital under Rs. 10 crore, net worth under Rs. 25 crore) so impact on shareholders is largely limited to no dividend payout for FY25 and the secretarial audit flags around governance (Independent Director tenure exceeding 10 years and prior late filing of results for which a penalty was paid).