Financial Results Overview

For Year Ended 31st March, 2026 (Audited):

  • Total Income: ₹48.37 lakhs (compared to ₹19.25 lakhs in FY2025)
  • Total Expenses: ₹765.98 lakhs
  • Loss Before Tax: ₹(717.61) lakhs (compared to ₹(54.73) lakhs in FY2025)
  • Loss After Tax: ₹(717.61) lakhs
  • Basic & Diluted EPS: ₹(10.25) per share (face value ₹10)
  • Paid-up Equity Share Capital: ₹700.22 lakhs
  • Other Equity: ₹(827.37) lakhs
  • Net Worth: ₹(127.15) lakhs

For Quarter Ended 31st March, 2026 (Audited):

  • Total Income: ₹5.85 lakhs
  • Total Expenses: ₹726.79 lakhs
  • Loss Before Tax: ₹(726.79) lakhs
  • Loss After Tax: ₹(724.17) lakhs
  • Basic & Diluted EPS: ₹(10.34) per share

Balance Sheet Position (as at 31st March, 2026)

  • Total Assets: ₹76.86 lakhs
  • Shareholders' Funds: ₹(127.15) lakhs
  • Non-current Liabilities: ₹0
  • Current Liabilities: ₹204.01 lakhs (including Borrowings ₹165.62 lakhs, Other Financial Liabilities ₹24.90 lakhs, Other Current Liabilities ₹13.49 lakhs)

Cash Flow Statement

  • Net Cash from Operating Activities: ₹441.87 lakhs (used in FY2025: ₹(458.46) lakhs)
  • Net Cash from Investing Activities: ₹0
  • Net Cash from Financing Activities: ₹(437.71) lakhs
  • Cash and Cash Equivalents at year-end: ₹8.45 lakhs (₹4.29 lakhs in FY2025)

Audit Qualifications

Statutory Auditors M/s Sunit M Chhatbar & Co. issued qualified opinion with two key issues:

1. Material Write-offs: During Q4 FY2026, the company wrote off majority of assets and liabilities appearing in books, citing they were "old, non-recoverable, non-traceable and not supported by adequate documentary evidence or confirmations." This event indicates material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. Auditors noted they received Board Resolution but not special resolution by shareholders to validate authorization of such material write-off.

2. TDS Non-payment: The company did not make any payment of TDS dues during FY2025-26 as required under Income-tax Act, 1961.

Impact of Audit Qualifications Statement

Management submitted Statement on Impact of Audit Qualifications declaring:

  • No quantitative impact on reported figures due to audit qualifications
  • All reported figures remain unchanged: Turnover ₹0, Total Expenditure ₹765.98 lakhs, Net Loss ₹(717.61) lakhs, EPS ₹(10.25), Total Assets ₹76.86 lakhs, Total Liabilities ₹204.01 lakhs, Net Worth ₹(127.15) lakhs
  • Management view: Write-offs were properly accounted for and no further financial impact arises
  • Unable to quantify impact on going concern assessment as it depends on future business operations and asset realization

Board Meeting Details

Board meeting held on 30th May, 2026 at Registered Office in Ahmedabad approved the financial results and related disclosures.