Key Quantitative Figures - Standalone (₹ in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: 115.10 (vs. 111.76 in Q1 FY27; 92.01 in Q2 FY26)
  • Total Income: 115.10 (vs. 111.76 in Q1 FY27; 92.01 in Q2 FY26)
  • Total Expenses: 130.79 (vs. 120.74 in Q1 FY27; 115.62 in Q2 FY26)
  • Employee Benefits Expense: 17.23
  • Other Expenses: 113.56
  • Loss Before Tax: (15.69) (vs. (8.98) in Q1 FY27; (23.61) in Q2 FY26)
  • Net Loss for the Quarter: (15.69) (vs. (8.98) in Q1 FY27; (23.61) in Q2 FY26)
  • Earnings Per Share (Basic/Diluted): (0.13) (vs. (0.08) in Q1 FY27; (0.20) in Q2 FY26)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: 226.87 (vs. 192.08 in H1 FY26)
  • Total Income: 226.87 (vs. 192.08 in H1 FY26)
  • Loss Before Tax: (24.94) (vs. (39.99) in H1 FY26)
  • Net Loss for the Period: (24.94) (vs. (39.99) in H1 FY26)
  • Earnings Per Share (Basic/Diluted): (0.21) (vs. (0.34) in H1 FY26)

Key Quantitative Figures - Consolidated (₹ in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: 373.80 (vs. 365.60 in Q1 FY27; 327.60 in Q2 FY26)
  • Total Income: 373.80 (vs. 365.60 in Q1 FY27; 327.60 in Q2 FY26)
  • Total Expenses: 373.63 (vs. 361.06 in Q1 FY27; 328.16 in Q2 FY26)
  • Employee Benefits Expense: 17.63
  • Finance Costs: 0.36
  • Other Expenses: 355.64
  • Profit Before Tax: 0.17 (vs. 4.54 in Q1 FY27; (0.56) in Q2 FY26)
  • Net Profit for the Quarter: 0.17 (vs. 4.54 in Q1 FY27; (0.56) in Q2 FY26)
  • Earnings Per Share (Basic/Diluted): 0.00 (vs. 0.04 in Q1 FY27; (0.00) in Q2 FY26)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: 739.40 (vs. 653.88 in H1 FY26)
  • Total Income: 739.40 (vs. 653.88 in H1 FY26)
  • Profit Before Tax: 4.43 (vs. (5.30) in H1 FY26)
  • Net Profit for the Period: 4.43 (vs. (5.30) in H1 FY26)
  • Earnings Per Share (Basic/Diluted): 0.04 (vs. (0.05) in H1 FY26)

Standalone Balance Sheet Highlights (as of 30/09/2026, ₹ in Lakhs)

  • Total Assets: 2,655.98 (vs. 2,613.79 on 31/03/2026)
  • Non-Current Assets: 1,814.59
  • Property, Plant & Equipment: 111.15
  • Capital Work-in-Progress: 300.00
  • Other Intangible Assets under Development: 109.15
  • Non-Current Investments: 806.21
  • Non-Current Trade Receivables: 294.40
  • Non-Current Loans: 142.74
  • Current Assets: 841.39
  • Current Trade Receivables: 691.93
  • Cash & Cash Equivalents: 29.57
  • Current Loans: 16.00
  • Total Equity: 1,381.18
  • Equity Share Capital: 1,165.00
  • Other Equity: 216.18
  • Total Liabilities: 1,274.80
  • Non-Current Borrowings: 492.73
  • Current Borrowings: 484.25
  • Other Non-Current Liabilities: 56.32

Consolidated Balance Sheet Highlights (as of 30/09/2026, ₹ in Lakhs)

  • Total Assets: 3,276.20 (vs. 3,069.75 on 31/03/2026)
  • Non-Current Assets: 1,370.47
  • Property, Plant & Equipment: 115.97
  • Capital Work-in-Progress: 300.00
  • Goodwill: 206.70
  • Other Intangible Assets under Development: 109.15
  • Non-Current Investments: 135.43
  • Non-Current Trade Receivables: 309.54
  • Non-Current Loans: 142.74
  • Current Assets: 1,905.73
  • Current Trade Receivables: 1,565.90
  • Cash & Cash Equivalents: 71.94
  • Loans and Advances, Current: 161.92
  • Total Equity: 1,581.52
  • Equity Share Capital: 1,165.00
  • Other Equity: 416.52
  • Total Liabilities: 1,694.68
  • Non-Current Borrowings: 731.35
  • Current Borrowings: 606.36
  • Other Non-Current Liabilities: 56.32

Parties and Regulatory References

  • Statutory Auditors: M/s. Maddukuru & Associates, Chartered Accountants (ICAI FRN: 017530S)
  • Bank/Lender: Bank of Maharashtra, Hyderabad
  • Related Party: Transcord Telscape Private Limited
  • Subsidiaries Included in Consolidation: Ajel Technologies India Private Limited, Ajel Technologies, Inc (USA)
  • Regulation Compliance: SEBI (LODR) Regulations, 2015 - Reg. 33(3)(a), Reg. 33(3)(d), Reg. 52. Prepared in accordance with Ind AS 34.

Auditor Qualifications and Notes

The Limited Review Report by Maddukuru & Associates contained several key qualifications and notes:

1. Project Expenses & Intangible Asset: Amounts attributed to project expenses during FY24 were capitalized as an Intangible Asset under development, relating to an MoU with Transcord Telscape Pvt. Ltd. dated October 15, 2022.

2. Cash Credit Facility & NPA Status: A cash credit facility of ₹5.00 crore was availed from Bank of Maharashtra. ₹3.00 crore from this facility was advanced to Transcord Telscape Pvt. Ltd. This loan facility, along with another ₹5.00 crore loan (₹1 crore working capital, ₹4 crore demand loan), was declared a Non-Performing Asset (NPA) on October 8, 2024, due to non-repayment of interest and principal, and its status changed to 'substandard'.

3. Unrecovered Loans: A loan of ₹85.96 lakhs, disclosed under "Other Long Term Loans & Advances," is yet to be recovered. The auditors could not opine on its recoverability due to a lack of management information.

4. Investment Verification: Investments in listed equity shares worth ₹105.01 lakhs could not be verified physically or in dematerialized form for the majority of shares.

5. Fair Value and Depreciation: Investments were not measured at fair value at the quarter-end (to be done at year-end), and depreciation was not calculated for the quarter.

6. Unpaid Statutory Dues: The company had not paid any taxes or other regulatory statutory dues, including employee dues, as of the quarter ended September 30, 2026. The auditors could not confirm the payment status.

Capital Structure

  • The equity share capital remained unchanged at ₹1,165.00 lakhs.