ELEGANT FLORICULTURE & AGROTEC

Operates as a single trading segment in the floriculture and agricultural products space. For FY26, revenue from operations was ₹16,003.19 lakhs, up roughly 24% from ₹12,893 lakhs in FY25 per the audited results filed on May 22, 2026. The cost structure does not resemble a producer of flowers or crops: materials cost is reported at 0% of revenue and other operating expenses absorb 98.1% of revenue, with employee cost at 0.1%, indicating a pass-through role. EBITDA margin is thin at 1.81%. Revenue recognition is highly back-loaded across the year - the Q3 FY26 filing shows revenue from operations of just ₹0.89 lakh for the quarter and ₹956.70 lakhs for the nine months ended December 31, 2025, while the FY26 full-year total was ₹16,003.19 lakhs. The statutory auditor issued an unmodified opinion but flagged an emphasis of matter over trade receivables of ₹16,026.42 lakhs and trade payables of ₹15,482.14 lakhs that could not be independently verified through external balance confirmations. Operating cash flow turned positive at ₹788.99 lakhs in FY26 from negative ₹775.50 lakhs in the prior year. The board has approved additions to the objects clause covering real estate, construction, builders, developers, contractors and infrastructure projects, and a name change to Elegant Infrastructure Limited - signalling a strategic shift. The registered office is being moved from Pune, Maharashtra to Gujarat and the company has executed an MoU for the sale of land.