Key Financial Figures (All amounts in Lakhs of Indian Rupees)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹190.20
  • Other Income: ₹46.42
  • Total Income: ₹236.61
  • Total Expenditure: ₹481.35
  • Finance Cost: ₹335.93
  • Loss Before Tax: ₹(244.73)
  • Tax Expense:
  • Current Tax: ₹17.77
  • Deferred Tax: ₹(28.17)
  • Net Loss: ₹(234.33)
  • Total Comprehensive Loss: ₹(234.33)
  • Earnings Per Share (Basic & Diluted): ₹(9.07)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹349.15
  • Other Income: ₹92.18
  • Total Income: ₹441.33
  • Total Expenditure: ₹939.71
  • Finance Cost: ₹671.65
  • Loss Before Tax: ₹(498.38)
  • Tax Expense:
  • Current Tax: ₹33.78
  • Deferred Tax: ₹(8.21)
  • Net Loss: ₹(523.95)
  • Total Comprehensive Loss: ₹(523.89)
  • Earnings Per Share (Basic & Diluted): ₹(20.28)

Balance Sheet Position (as at 30th September 2026)

  • Paid-up Equity Share Capital: ₹258.33
  • Reserves: ₹(25,604.02)
  • Total Equity: ₹(25,345.70)
  • Investment Property: ₹15,904.67
  • Property, Plant and Equipment: ₹2.89
  • Financial Assets: ₹541.19
  • Deferred Tax Assets: ₹42.60
  • Other Non-current Assets: ₹18.80
  • Total Non-current Assets: ₹16,510.15
  • Inventories: ₹165.20
  • Trade Receivables: ₹47.53
  • Cash and Cash Equivalents: ₹361.16
  • Other Current Assets: ₹191.28
  • Total Current Assets: ₹765.21
  • Total Assets: ₹17,275.35
  • Borrowings (Non-current): ₹14,470.91
  • Provisions (Non-current): ₹40.30
  • Other Non-current Liabilities: ₹3,350.00
  • Total Non-current Liabilities: ₹17,861.21
  • Trade Payables: ₹82.63
  • Other Financial Liabilities: ₹24,611.08
  • Provisions (Current): ₹62.22
  • Other Current Liabilities: ₹3.91
  • Total Current Liabilities: ₹24,759.84
  • Total Liabilities: ₹42,621.05

Parties Involved

  • Board of Directors: Approved the financial results
  • Audit Committee: Recommended approval of financial results
  • Company Secretary & Compliance Officer: G. Geetha
  • Chairman: V.R. Venkatachalam
  • Auditors: Ramesh and Ramachandran Chartered Accountants (FRN: 002981S)

Notes to Financial Results

Provision for Demerger Liabilities

The company, being the resultant company out of demerger scheme of erstwhile Binny Limited, has met liabilities of ₹9.73 Crores relating to M/s. Binny Limited (parent company) to fast track the demerger. Though this amount is recoverable from the parent company, the company has made provision for the full amount.

Finance Cost on Fair Value Measurement

Finance cost for the quarter includes finance cost on fair market value measurements on advance given to related party, in accordance with Companies (Indian Accounting Standards) (Ind AS).

Litigation Disclosures

1. Rent Litigation: The company had pending litigation in the Court of City Civil Judge of Bengaluru regarding rent payable to M/s Square Projects Associates for the company's showroom at M.G. Road, Bengaluru. The case was decided in favor of the company, with the claim for arrears of rent being rejected. However, the company has retained a provision of ₹28.65 lakhs for possible liability of rent and damages. The company continues to pay property tax for the showroom during the litigation period, which is shown as receivable from M/s Square Projects Associates.

2. Labor Litigation: The company along with management of Binny Ltd and B&C Mill Ltd had pending litigation in the Additional Labour Court, Chennai regarding demands raised by Chennai Perunagar Jananayaka Thozhilalar Sangam (Union) in respect of 22 employees. The case was decided in favor of the union for 8 out of 10 employees of the company, with a total award of ₹36.52 lakhs. The company has filed a stay against the award but has made provision for the awarded amount in the books of account.

3. Demerger Litigation Uncertainty: Subsequent to the demerger, the company was not provided with the list of pending litigations for which the company may become liable. Any liability arising from settlement of pending litigations will be provided for as and when it arises.

Promoter Shareholding Realignment

During the year, the company was informed of the execution of a Memorandum recording a Prior Oral Family Agreement (MoFA) for realigning shareholding among family members. The company was not a party to this arrangement. Inter-se transfers of equity shares by way of gift were effected among promoters and members of the Promoter Group during June 2026 in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These transfers were exempt from open offer requirements and represent only a realignment within the Promoter Group with no impact on company's operations, management, financial position or control.

Auditor's Review

The unaudited financial results were reviewed by Ramesh and Ramachandran Chartered Accountants, who issued a review report stating that nothing has come to their attention that causes them to believe that the statement contains any material misstatement. The review was conducted in accordance with Standard on Review Engagements (SRE) 2410 issued by ICAI.