Board Meeting Details

  • Meeting Date: October 15, 2026
  • Meeting Time: 3:30 PM to 4:30 PM
  • Business Approved: Standalone & Consolidated Un-Audited Financial results for the quarter and half year ended September 30, 2026

Financial Results Overview

Standalone Results (Amount in Lakhs Except EPS)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹133.20
  • Total income: ₹133.20
  • Total expenses: ₹121.22
  • Net profit before tax: ₹11.98
  • Net profit for the period: ₹11.98
  • Basic EPS: ₹2.40

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹206.20
  • Total income: ₹206.20
  • Total expenses: ₹186.03
  • Net profit before tax: ₹20.18
  • Net profit for the period: ₹20.18
  • Basic EPS: ₹4.04

Comparative Figures (Quarter):

  • September 30, 2025: Net loss of ₹12.02 lakhs (EPS: -₹2.40)
  • June 30, 2026: Net profit of ₹8.19 lakhs (EPS: ₹1.64)

Comparative Figures (Half Year):

  • September 30, 2025: Net loss of ₹23.23 lakhs (EPS: -₹4.65)
  • March 31, 2026 (Audited): Net loss of ₹35.10 lakhs (EPS: -₹7.02)

Consolidated Results (Amount in Lakhs Except EPS)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹133.20
  • Total income: ₹133.20
  • Total expenses: ₹128.19
  • Net profit before tax: ₹5.01
  • Net profit for the period: ₹5.01
  • Basic EPS: ₹1.00

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹206.20
  • Total income: ₹206.20
  • Total expenses: ₹199.97
  • Net profit before tax: ₹6.23
  • Net profit for the period: ₹6.23
  • Basic EPS: ₹1.25

Comparative Figures (Quarter):

  • September 30, 2025: Net loss of ₹19.42 lakhs (EPS: -₹3.88)
  • June 30, 2026: Net profit of ₹1.22 lakhs (EPS: ₹0.24)

Comparative Figures (Half Year):

  • September 30, 2025: Net loss of ₹38.03 lakhs (EPS: -₹7.61)
  • March 31, 2026 (Audited): Net loss of ₹64.69 lakhs (EPS: -₹12.94)

Share Capital Structure

  • Paid-up equity share capital: ₹10.00 lakhs
  • Face value per share: ₹2.00
  • Number of equity shares: 500,000

Auditor's Report - Qualified Opinion

Statutory auditors M/s. J M Patel & Bros., Chartered Accountants issued a qualified opinion on both standalone and consolidated financial results due to the following issues:

Standalone Audit Qualifications:

1. Unverified Current Liabilities (₹45.51 lakhs):

  • Financial Creditors: ₹7,51,873
  • Resolution Professional: ₹37,99,574
  • No adequate supporting documentation or confirmations available

2. Unverified Investments (₹8,92,96,000):

  • No documentary evidence, investment statements, or supporting information available
  • Unable to verify existence, ownership, valuation, classification, and recoverability

3. Unsubstantiated Deferred Tax Assets (₹52.09 lakhs):

  • Detailed workings and assessment of future taxable profits not available
  • Unable to verify recognition, measurement, and recoverability

Consolidated Audit Qualifications (Additional):

4. Unverified Depreciation and Fixed Assets of Subsidiaries:

  • Supporting fixed asset registers and documentation not available

5. Transition to New Management Post-CIRP:

  • Complete historical records for periods preceding handover not available
  • Limited ability to verify opening balances and prior period transactions

Emphasis of Matter

1. Change of Name and Main Objects:

  • Company name changed from "KDJ Holidayscapes & Resorts Limited" to "AVENIQUE LIMITED" effective July 10, 2026
  • Shareholders approved alteration of main object clause to enable diversification into agriculture, agro-processing, and clean energy/renewable fuels sectors on May 21, 2026
  • ROC registered the approval on June 22, 2026

2. Status of Listing and Trading Approvals:

  • Listing approval granted by BSE Limited on January 20, 2026
  • Trading approval remains pending as of the report date
  • Shares are lying in temporary ISIN awaiting trading approval

Other Matters

1. Prior Period Comparatives: Previous period results were reviewed/audited by predecessor statutory auditor who expressed a modified opinion/disclaimer of opinion

2. Casual Vacancy Appointment: Current auditors appointed effective July 15, 2026, to fill casual vacancy caused by resignation of M/s D D Shah Patel & Co., Chartered Accountants

3. Subsidiaries Included in Consolidation:

  • KDJ Hospitality Private Limited (100% Wholly-Owned Subsidiary)
  • KDJ Hospital Limited (51% Subsidiary)

4. Unreviewed Subsidiary Results: Financial results of subsidiaries have not been subjected to limited review or audit by independent auditors

Corporate Insolvency Resolution Process (CIRP) Background

The company was admitted into Corporate Insolvency Resolution Process (CIRP) pursuant to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by TJSB Sahakari Bank Limited, admitted by NCLT on September 23, 2019.

The Resolution Plan submitted by Mr. Ravikumar Gaurishankar Patel was approved by the Committee of Creditors with 100% voting share and implemented under the supervision of the Implementation and Monitoring Committee (IMC).

Management was handed over to the Board on March 28, 2025, and the new Board of Directors was constituted with effect from April 18, 2025.

Capital Restructuring

Pursuant to the NCLT-approved Resolution Plan:

  • Cancellation and extinguishment of all existing shares (5,46,56,000 equity shares of ₹2 each)
  • Allotment of 25,000 ordinary equity shares of ₹2 each to existing public shareholders in the ratio of 1:998 as on record date April 30, 2025

Financial Position

Standalone Balance Sheet (as at September 30, 2026):

  • Total Assets: ₹1,164.92 lakhs
  • Total Equity: ₹877.98 lakhs
  • Total Liabilities: ₹286.94 lakhs
  • Current Assets: ₹219.87 lakhs
  • Non-Current Assets: ₹945.05 lakhs

Consolidated Balance Sheet (as at September 30, 2026):

  • Total Assets: ₹6,830.37 lakhs
  • Total Equity: ₹1,017.98 lakhs
  • Total Liabilities: ₹5,812.39 lakhs
  • Current Assets: ₹224.88 lakhs
  • Non-Current Assets: ₹6,605.49 lakhs

Impact of Audit Qualifications

Management stated that they are unable to estimate the impact of audit qualifications due to reliance on records and data made available by the Resolution Professional from the CIRP period. The qualifications are repetitive from previous periods.