Financial Performance Highlights

Standalone Results (₹ in lakhs):

  • Total Income: ₹167.66 lakhs (compared to ₹289.12 lakhs in H1FY26)
  • Net Loss: ₹76.18 lakhs (compared to ₹629.58 lakhs loss in H1FY26)
  • Earnings Per Share: -₹0.43 (compared to -₹3.56 in H1FY26)
  • Negative Reserves: ₹4,293.96 lakhs

Consolidated Results (₹ in lakhs):

  • Total Income: ₹167.66 lakhs
  • Net Loss: ₹76.20 lakhs
  • Earnings Per Share: -₹0.43
  • Negative Reserves: ₹4,431.87 lakhs

Balance Sheet Position (Standalone as of September 30, 2026)

  • Share Capital: ₹1,770.73 lakhs
  • Negative Net Worth: ₹2,523.23 lakhs
  • Total Borrowings: ₹6,252.88 lakhs (Long-term: ₹1,144.82 lakhs, Short-term: ₹5,108.06 lakhs)
  • Total Assets: ₹4,172.43 lakhs
  • Cash and Cash Equivalents: ₹11.79 lakhs

Operational Challenges

1. Default on Borrowings: Company has defaulted in repayment of borrowings, resulting in loan accounts being classified as Non-Performing Assets (NPA)

2. One-Time Settlement: Engaged in discussions with lenders for settlement of outstanding dues through OTS arrangement

3. Statutory Payment Delays: Experienced delays in payment of TDS, Provident Fund, and ESIC due to financial constraints

4. Tax Demands: Outstanding Income Tax demands aggregating ₹9,708.96 lakhs and GST demands aggregating ₹864.80 lakhs

Auditor's Qualification

R.K. Jain Agarwal & Co., Chartered Accountants, issued a disclaimer of opinion citing:

  • Inability to verify carrying value of inventories (₹1,026.70 lakhs) containing slow-moving items
  • Uncertainty about recoverability of non-current assets (₹2,987.29 lakhs) and long-term loans/advances (₹860.38 lakhs)
  • Non-recognition of interest expense on NPA accounts pending OTS finalization
  • Material uncertainty regarding going concern assumption due to negative net worth
  • Non-provision for tax demands under dispute

Subsidiary Information

Consolidated results include:

  • Benara Solar Private Limited: Total assets ₹27.64 lakhs, net loss ₹0.22 lakhs
  • Securitrans Trading Private Limited: Total assets ₹24.42 lakhs, no transactions during the period

Meeting Details

Board meeting held on November 13, 2026, from 18:45 Hrs to 20:00 Hrs, where results were approved.

Contingent Liabilities

Income tax demands: ₹9,708.96 lakhs

GST demands: ₹864.80 lakhs