Key Financial Figures (Standalone, Amount in ₹ Lakhs)

Financial Performance:

  • Revenue from Operations: ₹0.00 (FY26) vs ₹0.00 (FY25)
  • Other Income: ₹38.00 (FY26) vs ₹5.70 (FY25)
  • Total Income: ₹38.00 (FY26) vs ₹5.70 (FY25)
  • Total Expenses: ₹37.56 (FY26) vs ₹8.76 (FY25)
  • Profit Before Tax (PBT): ₹0.44 (FY26) vs (₹3.06) (FY25)
  • Deferred Tax Credit/(Liability): (₹0.36) (FY26) vs ₹0.61 (FY25)
  • Profit After Tax (PAT): ₹0.80 (FY26) vs (₹3.66) (FY25)
  • EPS: ₹0.002 (FY26) vs (₹0.008) (FY25)

Balance Sheet Highlights (as of March 31, 2026):

  • Paid-up Share Capital: ₹938.31 lakhs (4,69,15,632 equity shares of ₹2 each)
  • Other Equity: (₹922.63) lakhs
  • Total Equity: ₹15.68 lakhs
  • Trade Receivables: ₹1.60 lakhs (considered good, undisputed, outstanding for 2-3 years)
  • Cash & Cash Equivalents: ₹0.95 lakhs
  • Other Current Assets (TDS/Advance Tax): ₹8.83 lakhs
  • Total Current Liabilities: ₹2.74 lakhs
  • Total Assets: ₹18.42 lakhs

Other Financial Details:

  • Provision for Doubtful Advances: ₹494.30 lakhs (against loans to related parties)
  • Recovery against Provision: ₹141.67 lakhs booked as other income (PY: ₹103.67 lakhs)
  • Deferred Tax Asset: ₹5.57 lakhs (mainly on carry forward depreciation)
  • Net Block of Property, Plant & Equipment: ₹1.47 lakhs

Capital Structure

  • Issued, Subscribed & Paid-up Capital: ₹9,38,31,264 comprising 4,69,15,632 equity shares of ₹2 each
  • No changes in capital structure during the year via differential rights, sweat equity, ESOPs, or employee share purchase schemes
  • Major Shareholders (>5%): Godavari Corporation Pvt Ltd (15.73%), Shearson Investments Trading Co Pvt Ltd (18.48%), Nirved Traders Pvt Ltd (11.71%), KGR Securities Pvt Ltd (13.97%)
  • Promoter Holding: 52.43%

Dividends and Reserves

  • No dividend declared for FY26. Profit proposed to be carried forward to Profit & Loss account.
  • No amount transferred to general reserves.

Board and Committee Meetings

  • Board Meetings: 11 meetings held during FY26. Maximum interval between meetings did not exceed 120 days.
  • Audit Committee: 7 meetings held
  • Nomination & Remuneration Committee: 3 meetings held
  • Stakeholders Relationship Committee: 1 meeting held

Director Attendance:

| Director Name | Board Meetings Attended/Held | Last AGM Attended |

| Mr. Satyanarayana Dahagama | 8/8 | No |

| Mr. Abhijeet Bhingarde | 11/11 | Yes |

| Mrs. Minal Pote | 11/11 | Yes |

| Mr. Sagar Gala | 3/3 | No |

Changes in Board and Key Managerial Personnel

  • Mr. Satyanarayana Dahagama resigned as Director effective October 7, 2025.
  • Mr. Sagar Gala appointed as Additional Independent Director effective October 7, 2025 (term expires at ensuing AGM, proposed for 5-year appointment).
  • Mr. Himanshu Sarda resigned as Company Secretary & Compliance Officer effective July 1, 2025.
  • Mr. Hemant Agarwal appointed as Company Secretary & Compliance Officer effective July 1, 2025.
  • Ms. Minal Pote appointed as Chief Financial Officer effective August 1, 2025.

Current Key Managerial Personnel (as of report date):

1. Mr. Hemant Agarwal, Company Secretary & Compliance Officer

2. Ms. Minal Pote, Chief Financial Officer

Regulatory and Legal Matters

Delisting and Relisting Process:

  • On July 24, 2023, BSE issued notice (No. 20230724-18) for delisting effective July 26, 2023, due to suspension exceeding 6 months.
  • Company filed appeal with Securities Appellate Tribunal (SAT) on January 25, 2024.
  • SAT issued relisting order on October 9, 2025, enabling restoration on BSE listing center.
  • Company still awaiting trading commencement notice from BSE Ltd.

Tax Disputes:

  • Service Tax: ₹2.33 lakhs for FY 2014-15 (excluding interest)
  • Income Tax Disputes:
  • TDS of ₹1.88 lakhs for AY 2020-23 and prior years (rectification filing pending)
  • Income Tax of ₹114.31 lakhs for AY 1996-97 (settlement done but effect pending)
  • Income Tax of ₹94.00 lakhs for AY 1998-99
  • Income Tax of ₹91.35 lakhs for AY 1996-97

Other Statutory Dues:

  • Slight delay in depositing undisputed statutory dues, but no outstanding dues for more than 6 months as of March 31, 2026, except service tax of ₹2.33 lakhs for FY 2014-15.

Auditors

  • Statutory Auditors: M/s. Agarwal Jain & Gupta, Chartered Accountants appointed until 41st AGM in 2027. Audit report contains no qualifications.
  • Secretarial Auditor: M/s. Ankit Mazumdar Practicing Company Secretary (CP No. A22261). Report noted non-compliances:
  • Inadequate board processes and compliance mechanism
  • Statutory registers not updated
  • Non-filing of Form INC-22A ACTIVE
  • Active charge with Ratnakar Bank Limited still on MCA portal despite loan repayment
  • Internal Auditor: M/s. A Ranka & Associates, Chartered Accountants. No adverse remarks.

Related Party Transactions

  • Transactions with related parties were in ordinary course of business at arm's length.
  • No material related party transactions requiring disclosure under Section 134(3)(h) of Companies Act, 2013.
  • Outstanding loans to related parties (net of provision):
  • Nirved Traders Private Limited: ₹280.17 lakhs
  • Shearson Investment & Trading Co Pvt Ltd: ₹213.13 lakhs
  • Birla Capital Advisor Pvt Ltd: ₹1.00 lakhs

Other Material Disclosures

  • Deposits: Company has not accepted or renewed any public deposits. Availed loans from banks in accordance with deposit rules.
  • Loans/Guarantees/Investments: No loans, guarantees, or investments given under Section 186 of Companies Act, 2013.
  • Corporate Governance Report: Not applicable as paid-up capital < ₹10 crores and net worth < ₹25 crores, but company claims to follow high standards.
  • Vigil Mechanism: Not applicable due to borrowing limits and no deposit acceptance.
  • IEPF: No funds required to be transferred to Investor Education and Protection Fund.
  • Internal Financial Controls: Considered adequate by management and auditors.
  • Sexual Harassment: No complaints received or pending during the year.
  • Employees: 1 male and 1 female employee; no transgender employees.
  • Cost Audit: Not applicable to the company.
  • Going Concern: Financial statements prepared on going concern basis.

Future Outlook

Company expects business sector to improve and aims to enhance performance in coming years. Plans to procure Merchant Banking License and offer services including capital raising, M&A advisory, underwriting, sales & trading, and research.