Thacker and Company Limited is a Mumbai-based diversified entity listed on the **BSE (Bombay Stock Exchange)**. The company operates a multi-disciplinary business model spanning high-growth technology trading, strategic financial investments, and real estate management. Currently undergoing a significant corporate restructuring, the company is positioning itself for enhanced operational efficiency and a leaner capital structure. --- ### **Core Business Segments & Revenue Drivers** The Board of Directors monitors performance across four primary reportable segments, with the **Trading Business** recently emerging as the dominant driver of top-line growth. | Segment | Primary Activities | FY25 Revenue (Rs. in Lakhs) | | :--- | :--- | :--- | | **Trading Business** | Distribution of **scanners**, computer peripherals, and digital products. | **4,446.81** | | **Investment & Finance** | Strategic equity investments and management of unsecured loans. | **303.03** | | **Business Centre** | Real estate activities utilizing owned or leased property. | **155.29** | | **Others / Unallocable** | Corporate-level income and common expenditures. | **4.38** | * **Technology Trading:** This segment focuses on the marketing and distribution of high-end scanners and digital peripherals. It witnessed a massive **225% revenue surge** in the last fiscal year. * **Real Estate & Business Centres:** The company manages premium business center spaces. A key asset is a leasehold building held under a **Finance Lease** valid until **2066**, with a Written Down Value (WDV) of **₹17.14 crore** as of March 31, 2023. * **Investment Portfolio:** The company maintains a substantial investment book, with **Capital Employed** in this segment reaching **Rs. 13,678.01 lakhs** by March 2025. --- ### **Strategic Consolidation: The Fujisan Merger** A central pillar of the company’s current strategy is the **Merger by Absorption** of its wholly-owned subsidiary, **Fujisan Technologies Limited**. * **Status:** Sanctioned by the **NCLT (Mumbai Bench)** on **May 01, 2025**, with an effective **Appointed Date of April 01, 2022**. * **Integration Scope:** Fujisan specializes in the manufacturing and marketing of computer hardware, digital diaries, and data processing devices (CDs, hard drives, printers). * **Strategic Objectives:** * **Economies of Scale:** Consolidating activities into a single entity to reduce overhead and improve cost competitiveness. * **Cash Flow Optimization:** Gaining unfettered access to combined cash flows for more effective deployment in growth opportunities. * **Administrative Leanliness:** Eliminating inter-corporate dependencies and reducing the multiplicity of legal and regulatory filings. * **Human Capital:** Providing subsidiary employees better growth prospects within a **listed corporate entity** with a larger asset base. --- ### **Financial Performance & Capital Structure** The company reported robust financial growth for the fiscal year ended **March 31, 2025**, characterized by a significant expansion in both revenue and net profitability. **Consolidated Financial Highlights:** * **Total Income:** Increased to **Rs. 4,909.51 lakhs** in FY25, up from **Rs. 1,808.39 lakhs** in FY24. * **Net Profit:** Grew by **156%**, reaching **Rs. 214.06 lakhs** (compared to **Rs. 83.43 lakhs** in the previous year). * **Total Capital Employed:** Stood at **Rs. 16,452.99 lakhs** as of March 31, 2025. * **Expense Management:** The rise in revenue was primarily supported by **Purchases of stock-in-trade** totaling **Rs. 4,198.30 lakhs**. **Capital Management Policy:** * **Dividend Policy:** The company has maintained a **zero dividend distribution** policy for FY 2023-24 and 2022-23 to conserve financial resources for internal growth. * **Promoter Confidence:** In June 2025, Promoter **Arunkumar Mahabirprasad Jatia** increased his stake by acquiring **40,150 equity shares (3.69%)** via open market purchase. * **Debt Profile:** The company maintains a clean secured-debt profile with **no pending charges** for creation or satisfaction with the **Registrar of Companies (ROC)**. --- ### **Governance & Leadership** Thacker and Company Limited adheres to **SEBI Listing Regulations** for top 2000 entities, maintaining a balanced and professional board. * **Board Composition:** Consists of **6 Directors**, split equally between **3 Non-Executive Independent Directors** and **3 Non-Executive Non-Independent Directors**. * **Key Appointments:** * **Ms. Siddhi Kul:** Appointed as **Company Secretary & Compliance Officer** (KMP) effective **August 04, 2025**. * **Mr. Amit Shah:** Appointed as **Non-Executive Independent Director** for a **5-year term** ending March 2029. * **Related Party Oversight:** The company maintains transparency in material transactions, such as the November 2025 postal ballot for a transaction with **Biodegradable Products India Limited**. --- ### **Risk Management Framework** The company’s risk strategy is overseen by the **Audit Committee** and a dedicated **Risk Management Committee**, focusing on financial stability and asset protection. **Financial Risk Pillars:** * **Credit Risk:** Managed through rigorous monitoring of **receivables** and **loans repayable on demand**. Currently, no amounts are overdue beyond **90 days**. * **Liquidity Risk:** Management utilizes **rolling cash flow forecasts** and monitors financial ratios to ensure obligations are met. Current liabilities are minimal, with total borrowings and trade payables of only **Rs. 38.47 lakhs** as of March 2024. * **Market Price Risk:** Strategic equity investments are carried at **FVOCI (Fair Value through Other Comprehensive Income)**. This ensures that market volatility is reflected in **OCI** rather than the Profit and Loss account, protecting net earnings from temporary market swings. **Regulatory Compliance & Contingencies:** * **Taxation:** There are **no Income Tax demands** under dispute. * **Asset Integrity:** Property, Plant, and Equipment (PPE) are verified on a **3-to-4-year phased cycle**. * **Clean Legal Record:** No proceedings are pending under the **Benami Transactions (Prohibition) Act, 1988**, and no unrecorded income has been surrendered during recent tax assessments.