Royal Cushion Vinyl Products MD, chairman, board of directors and AGM
BSE: 526193Consumer DurablesSmall Cap
Share price at the BSE close on 23 Oct 2026. Previous close ₹12.09.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹50 Cr3,199th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
- Shares changed
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business.
- Net worth zero or below
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 13 Aug 2026
- −23.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- Net worth zero or below
- Volume, BSEVolume. Shares traded on the last trading day.
- 10,962
Royal Cushion Vinyl Products board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and managing directorMAHESH SHAH
4 directors2 independent1 executive1 non-executive
- MAHESH SHAH · Chairperson and managing directorExecutive · joined Nov 1983 · reappointed Sep 2025 · 0 months as independent · 1 listed board
- JAYESH MOTASHANon-executive · joined Nov 1983 · reappointed Mar 2019 · 0 months as independent · 1 listed board · 2 committee seats, 1 as chair
- DHAVAL VAKHARIAIndependent · joined Apr 2024 · reappointed Apr 2024 · 30 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- AVANI PANDITIndependent · joined Mar 2019 · reappointed Mar 2024 · 91 months as independent · 1 listed board · 1 as independent · 2 committee seats
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 1 Sep 20264 of 4 present2 independent · 18 days in between
- 13 Aug 20264 of 4 present2 independent · 75 days in between
- 29 May 20264 of 4 present2 independent
Audit Committee
Chair DHAVAL VAKHARIA
JAYESH MOTASHA, AVANI PANDIT
- 1 Sep 20263 of 3 present2 independent · 18 days in between
- 13 Aug 20263 of 3 present2 independent · 75 days in between
- 29 May 20263 of 3 present2 independent
Nomination and remuneration committee
Chair AVANI PANDIT
JAYESH MOTASHA, DHAVAL VAKHARIA
No meeting listed in the filing.
Stakeholders Relationship Committee
Chair JAYESH MOTASHA
AVANI PANDIT, DHAVAL VAKHARIA
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- MANEK AND ASSOCIATESPeer-review certificate valid to Jan 2029
1 earlier auditor
- MANEK & ASSOCIATESNamed in the filing for the quarter to Sep 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Royal Cushion Vinyl Products AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Royal Cushion Vinyl Products share news and announcements
Annual general meeting, 29 Sep 2026
4,889 shareholders on the register on 22 Sep 2026; present: 9 promoters and 11 others; votes counted by Padma Loya / Loya & Shariff.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31st, 2026 together with the reports Of the Board Of Directors and Auditors thereon and in this regardMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 47.26% · promoters 71.31% · institutions 16.97% · other public 32.82%
To appoint a Director in place Of Mr. Jayesh Motasha (DIN 00054236), Non- Executive Director Of the Company, who is liable to retire by rotation and being eligible, offers himself for re- appointment and in this regardMoreLess
OrdinaryPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
Approval for Material Related Party Transaction with Natroyal Industries Private Limited for entering into a leave and Licence Agreement for land Of the Company, admeasuring 9,030.06 sq. mtrs., situated at Baska, GujaratMoreLess
OrdinaryPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
Approval for Material Related party Transaction with Natroyal Industries private Limited for entering into a Lease Agreement for land admeasuring 25,324.94 sq. mtrs. and building admeasuring 6606 sq. mtrs. Of the Company, situated at Baska, GujaratMoreLess
OrdinaryPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
- Approval for Material Related party Transaction with Natroyal Industries private Limited for purchase and sale of goods by the CompanyOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 19.76% · promoters 0.00% · institutions 100.00% · other public 32.84%
- Approval for Material Related party Transaction with Natroyal Industries private Limited for availing of financial assistance by way of loan(s)/advance(s) from time to time.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
- Approval under Section 185 & 186 Of the Companies Act, 2013 to provide Corporate Guarantee for Natroya I Industries Private LimitedSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
- Approval for Material Related Party Transaction with Mr. Mahesh K Shah for availing of financial assistance by way of loan(s)/advance(s) from time to time.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 18.81% · promoters 0.00% · institutions 16.97% · other public 32.84%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Tax disputes
Reported in the filing for the quarter to Sep 2026.
- Tax disputeCESTAT, WZB, MumbaiSince 22 Feb 2022custom duty of Rs. 1,93,07,300/- along with interest @24% and penalty of Rs. 1,93,073/-At the filing before: Pending Export
- Tax disputeAppellate Tribunal, FEMA – New DelhiSince 8 Oct 2022Penalty of Rs. 1,00,00,000/-At the filing before: No realization of Export proceeds
- Tax disputeAppellate Tribunal, FEMA – New DelhiSince 12 Aug 2003Penalty of Rs. 49,39,000/-At the filing before: No submission of Bill of entry for two import remitance
- Tax disputeThe commissioner (Appeals )SGST, BarodaSince 31 Jul 2023Amt. of Rs.14,91,704/- demanded under section 73 of CGST Act 2017. There was a mismatch between GSTR-3B and 2A, it may be dropped by higher authority. PH PendingAt the filing before: Difference between GSTR-3B and GSTR-2A ( 2020-21 ); Asst. Comm., SGST order dt.31.07.2023 challenged
- Tax disputeCIT ( Appeal), MumbaiSince 31 Jul 2017
Penalty Proceedings Initiated U/S 271 (1) (C ) Of The Act . Appeal Filed with CIT ( Appeal ) of Rs.46,00,000/- . Requested that the Appeal be Allowed on the Basis of the Written Submissions . Response Re-Submitted On 16-05-2023, Awaiting for Hearing.MoreLess
At the filing before: APPEAL FILED WITH CIT ( APPEAL ), Mumbai) - Tax disputeCIT ( Appeal), MumbaiSince 31 Mar 2026Demand Notice u/s. 156 of the Act for Rs.2,75,32,300/-. Appeal filed with CIT (Appeal) of requested that the Appeal be allowed on the basis of the written submissions. Awaiting for hearing.At the filing before: APPEAL FILED WITH CIT ( APPEAL ), Mumbai)
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.