Key Financial Figures (₹ in Lakhs)

FY 2025-26 Performance:

  • Net Sales: ₹0 (FY 2024-25: ₹794.62L)
  • Profit Before Tax: (₹126.67) (FY 2024-25: (₹2,121.71))
  • Profit After Tax: (₹508.42) including discontinued operations tax expense of ₹381.75L (FY 2024-25: (₹2,705.91))
  • Net Cash Accrual: ₹241.13 (FY 2024-25: ₹151.09)
  • Earnings Per Share: (₹7.62) (FY 2024-25: (₹40.57))

Financial Position as on 31-Mar-2026:

  • Equity Share Capital: ₹667.00L (66,70,000 shares of ₹10 each)
  • Reserves & Surplus: ₹2,154.93L (includes revaluation reserve of ₹3,710.77L)
  • Net Worth: ₹2,821.93L
  • Total Assets: ₹3,545.90L including Assets Held for Sale of ₹1,382.38L
  • Current Liabilities: ₹723.97L

Liquidation Status

  • Voluntary liquidation commenced effective 14-Jul-2025 under Section 59 of Insolvency and Bankruptcy Code, 2016
  • Liquidator: Mr. Rajendran Shanmugam (IBBI/IPA-002/IP-N00098/2017-2018/10241)
  • Trading in equity shares suspended on BSE with effect from 24-Nov-2025
  • Operations ceased since August 2024

Asset Realization Events

  • Public e-auction conducted on 23-Jan-2026 realized ₹4,277.00L from sale of:
  • Land: 138.35 acres with factory building, staff quarters, mango garden
  • Plant and machinery, stores and spares
  • Letter of Intent issued to successful bidders on 03-Feb-2026
  • Sale consideration realized on 06-Feb-2026
  • Profit on sale: ₹805.87L recognized in P&L (carrying value: ₹3,471.13L)
  • Unsold assets classified as "Assets Held for Sale" valued at ₹1,382.38L comprising:
  • Land at Kurnool: 114.08 acres
  • Land at Vedadri: 77.74 acres
  • Disputed land at Vedadri: 55.25 acres (carrying value: ₹545.98L)

Revaluation Reserve

  • Assets revalued at estimated realizable values based on IBBI-registered valuers' reports
  • ₹3,710.77L recognized as Revaluation Reserve during the year

AGM Details

  • 44th Annual General Meeting scheduled for 29-Sep-2026 at 11:00 AM through Video Conferencing
  • Ordinary Business:

1. Adoption of audited financial statements for FY 2025-26

2. Reappointment of Mrs. Swaminathan Nandhini (DIN: 09746701) who retires by rotation

  • Special Business:

3. Reappointment of Mr. Sivasamy Raju (DIN: 06961330) as Independent Director for second term of 5 years

4. Increase in Liquidator's fee from ₹50,000 to ₹100,000 per month plus GST effective 14-Jul-2026

Board and Committee Composition

Directors as on 31-Mar-2026:

  • Mr. Sivasamy Raju (Non-Executive Independent Director)
  • Mr. Sundar Venkataraman (Non-Executive Independent Director)
  • Mr. Ramachandran Harikrishna (Non-Executive Non-Independent Director)
  • Ms. Nandini Swaminathan (Non-Executive Non-Independent Director)
  • Mr. Gopalsamy Rajan (ceased as director w.e.f 18-Jun-2026 due to death)

Committees (reconstituted w.e.f 24-Apr-2025):

  • Audit Committee: Mr. Sivasamy Raju, Mr. Sundar Venkataraman, Mr. Ramachandran Harikrishna
  • Nomination and Remuneration Committee: Mr. Sundar Venkataraman (Chairman), Mr. Sivasamy Raju, Mr. Ramachandran Harikrishna
  • Stakeholders Relationship Committee: Mr. Sivasamy Raju (Chairman), Mr. Sundar Venkataraman, Mr. Ramachandran Harikrishna
  • CSR Committee: Mr. Sivasamy Raju (Chairman), Mr. Sundar Venkataraman, Mr. Ramachandran Harikrishna

Key Management Changes

  • Mr. Krish Narayanan, Company Secretary resigned on 10-May-2025
  • Mr. Krishnamurthy Suryanarayanan, CFO resigned on 02-Sep-2025
  • Mr. Sujay Sambamoorthy, CEO resigned on 02-Sep-2025
  • Mr. Srikant Ramani, Company Secretary appointed on 10-May-2025, resigned on 13-Feb-2026

Regulatory Penalties

  • BSE imposed penalty of ₹2,95,000 for non-compliance with Regulation 17(1) of SEBI LODR (no Chairperson, insufficient Independent Directors)
  • BSE imposed penalty of ₹1,06,000 for non-compliance with Regulation 20(2)/(2A) of SEBI LODR
  • BSE imposed penalty of ₹5,000 for delay in disclosure of Related Party Transactions

Shareholding Pattern

  • Promoter Group holding: 66.25% (4,419,110 shares)
  • SRMPR Construction Private Limited: 40.80% (2,721,060 shares)
  • SRM TRP Properties & Investments Pvt Ltd: 22.44% (1,496,899 shares)
  • Dematerialized shares: 10,06,377 shares as on 31-Mar-2026

Related Party Transactions

  • Sale of assets to related parties through e-auction:
  • SRMPR Construction Private Limited: ₹2,854L
  • SRM TRP Properties and Investment Pvt Ltd: ₹1,423L
  • Interest expense on related party loans: ₹58.50L
  • Unsecured loans from related parties: ₹1,039L received during year

Compliance Status

  • Company under voluntary liquidation - normal business operations suspended
  • All registers and documents available for electronic inspection by members
  • E-voting facility provided through CDSL for AGM resolutions
  • No dividends declared for FY 2025-26

Future Outlook

  • Liquidation process expected to take additional 270 days for completion
  • Pending tasks include: verification of land documents, final settlement to stakeholders, resolution of legal issues, distribution to equity shareholders, and filing dissolution application with NCLT Chennai