Board Meeting Details

The Board of Directors meeting was held on May 26, 2026, commencing at 12:45 PM and concluding at 1:55 PM.

Key Board Approvals

1. Approved Audited Financial Statements for Quarter and Year ended March 31, 2026, including:

  • Audited Financial Results
  • Independent Auditors Report
  • Statement on Impact of Audit Qualifications

2. Re-appointed M/S D.C. Chhajed & Associates (FRN: 013529N) as Internal Auditor for FY 2026-27

  • Appointment date: May 26, 2026
  • Terms: To conduct internal audit for financial year 2026-27
  • Auditor profile: Firm with 30+ years experience, empanelled with Indian Bank Association and Delhi High Court

Financial Results Highlights (₹ in Lakhs)

Year Ended March 31, 2026:

  • Revenue from operations: ₹7,550.41
  • Total income: ₹7,581.11
  • Total expenses: ₹17,125.25
  • Net loss: ₹(9,544.14)
  • EPS: ₹(2.42)
  • Paid-up equity share capital: ₹3,949.50 (Face value ₹1 each)
  • Other equity: ₹(39,850.20)
  • Net worth: ₹(35,900.70)

Quarter Ended March 31, 2026:

  • Revenue from operations: ₹1,716.51
  • Total income: ₹1,745.02
  • Total expenses: ₹4,471.08
  • Net loss: ₹(2,743.96)
  • EPS: ₹(0.69)

Balance Sheet Position as at March 31, 2026 (₹ in Lakhs)

  • Total assets: ₹31,406.00
  • Non-current assets: ₹22,678.58
  • Current assets: ₹8,727.42
  • Total liabilities: ₹61,782.32
  • Current liabilities: ₹61,782.32 (exceeding current assets)
  • Borrowings (current): ₹21,263.62
  • Trade payables: ₹3,315.60 (including ₹421.66 to micro & small enterprises)

Critical Financial Challenges

1. Going Concern Uncertainty: Company has accumulated losses, negative net worth of ₹35,900.70 lakhs, and current liabilities exceed current assets

2. NPA Status: Loans amounting to ₹58,114.41 lakhs (including accrued interest) classified as Non-Performing Assets by lenders

3. Active Debt Resolution: Company engaged in One-Time Settlement discussions with lenders; upfront amounts deposited with some lenders

4. Interest Accounting: Continuing to provide interest on borrowings as per original sanction terms despite NPA classification

Regulatory and Legal Matters

1. Enforcement Directorate Action: Provisional Attachment Order No. 09/2024 dated September 13, 2024, issued by Deputy Director, Gurugram Zonal Office

  • Attached immovable properties in company's name
  • Attached shares held by promoter company
  • Matter sub-judice before Appellate Authority
  • Management states no impact on business operations

2. Audit Qualifications: Qualified opinion due to:

  • Trade payables, receivables, and loans/advances subject to reconciliation and confirmation
  • Term loan accounts with banks/financial institutions subject to reconciliation
  • Impact of non-reconciliation not quantifiable at this stage

Cash Flow Statement (Year Ended March 31, 2026)

  • Net cash from operating activities: ₹1,493.15
  • Net cash used in investing activities: ₹(119.10)
  • Net cash used in financing activities: ₹(976.29)
  • Net increase in cash: ₹504.38
  • Cash equivalents at year-end: ₹902.14

Auditor's Emphasis of Matter

1. Provisional attachment of properties by Enforcement Directorate

2. Carrying values of Property, Plant and Equipment at historical cost

3. NPA classification of loans and ongoing OTS negotiations

#Tags: #AllianceIntegratedMetaliks #SEBIDisclosure #FinancialResults #NPA #EnforcementDirectorate #Negative