Board Meeting Details

The Board of Directors meeting was held on 13th November, 2026, commencing at 12:00 PM and concluding at 3:35 PM.

Key Board Resolutions

1. Approved the unaudited financial results for the quarter and half year ended 30th September, 2026, along with the Limited Review Report issued by statutory auditors M/s G Basu & Co.

2. Resolved to diversify the company's main business into acquisition, sale, construction, development, and promotion of land and buildings. This diversification will utilize existing stock already in the company's possession or involve fresh acquisitions, to be undertaken independently or in joint venture with other parties, as authorized under clauses 5 and 6 of the main object clause of the Memorandum and Articles of Association.

Financial Results Overview (Quarter Ended 30.09.2026)

  • Total Income: ₹929.06 lakh (compared to ₹643.79 lakh in Q2 FY26)
  • Revenue from Operations: ₹415.83 lakh
  • Other Income: ₹513.23 lakh
  • Total Expenses: ₹401.25 lakh
  • Profit/(Loss) before tax: ₹527.81 lakh (compared to loss of ₹56.45 lakh in Q2 FY26)
  • Tax Expense: ₹1.04 lakh
  • Net Profit/(Loss) for the period: ₹526.77 lakh (compared to loss of ₹58.23 lakh in Q2 FY26)
  • Total Comprehensive Income: ₹526.58 lakh
  • Earnings Per Share (Basic & Diluted): ₹17.12 (compared to loss of ₹1.89 in Q2 FY26)

Financial Results Overview (Half Year Ended 30.09.2026)

  • Total Income: ₹1,079.13 lakh (compared to ₹1,000.79 lakh in H1 FY26)
  • Revenue from Operations: ₹561.89 lakh
  • Other Income: ₹517.24 lakh
  • Total Expenses: ₹608.25 lakh
  • Profit/(Loss) before tax: ₹470.88 lakh (compared to loss of ₹140.59 lakh in H1 FY26)
  • Tax Expense: ₹0.26 lakh
  • Net Profit/(Loss) for the period: ₹470.63 lakh (compared to loss of ₹142.33 lakh in H1 FY26)
  • Total Comprehensive Income: ₹470.77 lakh
  • Earnings Per Share (Basic & Diluted): ₹15.28 (compared to loss of ₹4.65 in H1 FY26)

Segment Performance (Quarter Ended 30.09.2026)

  • Jute/Jute Diversified Products & Services: Revenue ₹197.36 lakh, Segment Result loss of ₹183.49 lakh
  • Flax Products: Revenue ₹8.46 lakh, Segment Result loss of ₹11.64 lakh
  • Others: Revenue ₹210.00 lakh, Segment Result profit of ₹209.82 lakh

Balance Sheet Position (as at 30.09.2026)

  • Total Assets: ₹2,136.06 lakh (compared to ₹1,877.02 lakh as at 31.03.2026)
  • Non-Current Assets: ₹703.36 lakh
  • Current Assets: ₹1,432.71 lakh (including inventories ₹708.01 lakh)
  • Total Equity: ₹267.94 lakh (improved from negative ₹202.84 lakh)
  • Non-Current Liabilities: ₹745.75 lakh
  • Current Liabilities: ₹1,122.37 lakh

Cash Flow Statement (Half Year Ended 30.09.2026)

  • Net Cash from Operating Activities: ₹40.64 lakh
  • Net Cash used in Investing Activities: ₹36.76 lakh
  • Net Cash from Financing Activities: ₹32.70 lakh
  • Net Increase in Cash: ₹36.59 lakh

Operational Highlights

  • Yarn unit and Libra carpet Unit at Choudwar, Cuttack Odisha, and weaving units at Rishra and Konnagar continue under suspension of work
  • Yarn and Fine Yarn unit at Rishra and Jagatdal, and Wellington jute mill at Rishra have commenced production after requisite renovation
  • Production resumption occurred despite volatile raw jute market conditions even after bumper crop due to market complexities

Auditor's Qualification

Statutory auditors G Basu & Co issued a qualified review report stating: "Based on our review, except for unquantified depletion in inventory, nothing has come to our attention that causes us to believe that the accompanying Statement... contains any material misstatement."

Notes to Financial Statements

1. Financial results prepared in accordance with IND AS 34 Interim Financial Reporting

2. Company operates in two business segments: Jute/Jute Diversified Products and Flax Products

3. Prolonged suspension of work has caused substantial quality depletion in inventories, with quantum not readily ascertainable

4. Assets poised for disposal have been transferred from Fixed Asset to Assets held for sale under Current Assets following diversification resolution

5. Q2 FY27 figures are balancing figures between H1 FY26 figures and Q1 FY27 reviewed figures