Board Meeting Details
The Board meeting was held on Friday, 30th October, 2026 at the registered office of the company, commencing at 03:30 PM and concluding at 05:30 PM.
Key Decisions Approved
1. Financial Results Approval
The Board considered and approved the Unaudited Financial Results of the company for the quarter and half year ended 30th September, 2026 along with the Limited Review Report of the auditors thereon.
Financial Performance Highlights (₹ Lakhs):
- Quarter Ended 30.09.2026: Revenue from Operations: ₹3.70; Total Income: ₹3.70; Profit/(Loss) before tax: (₹3.97); Net Profit/(Loss): (₹2.97)
- Half Year Ended 30.09.2026: Revenue from Operations: ₹12.53; Total Income: ₹12.53; Profit/(Loss) before tax: ₹0.99; Net Profit/(Loss): ₹0.74
- Earnings Per Share (Continuing Operations): Basic and Diluted: (₹0.06) for Q2 FY27; ₹0.01 for H1 FY27
- Paid-up Equity Share Capital: ₹504.37 lakhs with face value of ₹10.00 per share
- Reserves: ₹324.06 lakhs (excluding Revaluation Reserves)
2. Statutory Auditor Resignation
The Board considered and approved the resignation of M/s SHAMBHU GUPTA & CO. (Chartered Accountants FRN: 007234C) as Statutory Auditors of the Company with effect from the close of business hours on 30th October 2026.
Auditor Resignation Details:
- Effective Date: 30th October, 2026
- Reason: Pre-occupation with other assignments and inability to devote sufficient time to the affairs of the Company
- Date of Original Appointment: 30/09/2022
- Scheduled Term Expiry: 30/09/2027
- Last Review Report: Limited Review Report for quarter ended 30th September, 2026 submitted on 30-10-2026
- Auditor Confirmation: No other material reasons for resignation beyond those stated
3. Management Resignations
The Board approved the resignations of seven key management personnel, all effective from the close of business hours on 30th October 2026:
- Mr. Rameshwar Jangid - Chief Financial Officer (CFO)
Reason: To pursue other career opportunities and professional growth
- Mr. Anil Sayar Chand Kawar (DIN: 00464523) - Director
Reason: Change in management pursuant to completion of open offer
- Ms. Shweta Vikash Kawar (DIN: 07119867) - Non-Executive Director
Reason: Change in management pursuant to completion of open offer
- Mr. Sumit Chhajer (DIN: 11279184) - Non-Executive Independent Director
Reason: Change in management pursuant to completion of open offer
Confirmation: No other material reasons for resignation
Other Directorships: Nil in listed entities
- Mr. Javeri Lal Nahar (DIN: 11279186) - Non-Executive Independent Director
Reason: Change in management pursuant to completion of open offer
Confirmation: No other material reasons for resignation
Other Directorships: Nil in listed entities
- Mr. Noratmal Kawar (DIN: 00464435) - Managing Director
Reason: Change in management pursuant to completion of open offer
Financial Position as of 30th September, 2026 (Unaudited)
Assets (₹ Lakhs):
- Financial Loans: ₹817.00
- Cash and Cash Equivalents: ₹5.80
- Other Current Assets: ₹18.61
- Total Assets: ₹841.41
Liabilities (₹ Lakhs):
- Trade Payables: ₹4.46
- Other Current Liabilities: ₹8.27
- Provisions: ₹0.25
Equity (₹ Lakhs):
- Equity Share Capital: ₹504.37
- Other Equity: ₹324.06
Cash Flow Statement for Half Year Ended 30th September, 2026 (₹ Lakhs)
- Net Cash from Operating Activities: ₹380.79
- Net Cash from Investing Activities: ₹12.53
- Net Cash from Financing Activities: (₹389.89)
- Net Increase in Cash: ₹3.44
- Closing Cash Balance: ₹5.80
Limited Review Report
The statutory auditors, Shambhu Gupta & Co., issued an unmodified limited review report on the unaudited financial results for the quarter and half year ended 30th September, 2026, stating that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement.