Board Meeting Details

The Board of Directors meeting was held on Tuesday, July 28, 2026, commencing at 11:30 AM and concluding at 6:30 PM. The Audit Committee reviewed and the Board approved the unaudited financial results for the quarter ended June 30, 2026.

Financial Results - Standalone (Rs. in Lakhs)

  • Revenue from operations: ₹12,026.73 (Q1 FY27) vs ₹5,130.72 (Q1 FY26)
  • Other income: ₹331.51
  • Total income: ₹12,358.24
  • Total expenses: ₹13,310.92
  • Loss before exceptional items: ₹(952.68)
  • Exceptional items: Gain of ₹302.83 (reversal of provision for change in fair value of NCD investments)
  • Loss before tax: ₹(649.85)
  • Tax benefit: ₹(100.02) (tax relating to earlier years)
  • Net loss for quarter: ₹(549.83) vs profit of ₹9,882.83 in Q1 FY26
  • Total comprehensive income: ₹(550.70)
  • Earnings per share (basic/diluted): ₹(0.12)
  • Paid-up equity share capital: ₹8,935.19 (face value ₹2 per share)
  • Reserves excluding revaluation: ₹8,935.19

Financial Results - Consolidated (Rs. in Lakhs)

  • Revenue from operations: ₹12,026.73 (Q1 FY27) vs ₹5,130.72 (Q1 FY26)
  • Other income: ₹331.51
  • Total income: ₹12,358.24
  • Total expenses: ₹13,310.25
  • Loss before share of profit and exceptional items: ₹(952.01)
  • Exceptional items: Gain of ₹302.83
  • Loss before tax: ₹(649.18)
  • Tax benefit: ₹(100.02) (tax relating to earlier years)
  • Net loss for quarter: ₹(549.16) vs profit of ₹6,245.84 in Q1 FY26
  • Profit from discontinued operations: ₹1,547.96 (Q1 FY26)
  • Total comprehensive income: ₹(550.03)
  • Earnings per share (basic/diluted): ₹(0.12)
  • Paid-up equity share capital: ₹8,935.19
  • Reserves excluding revaluation: ₹18,943.74

Key Operational Metrics

  • Balance value of work on hand as at June 30, 2026: ₹1,11,038 Lakhs
  • Segment reporting: Single segment - Construction and other infrastructural services

Director Resignation

Mr. V G Janarthanam (DIN: 00426422), Non-Executive Non-Independent Director, tendered his resignation via letter dated July 1, 2026, due to personal reasons. The resignation was accepted by the Board effective close of business hours on July 28, 2026.

Auditor's Review Report

The statutory auditor, ASA & Associates LLP, issued a modified review report with qualified conclusions citing:

  • Non-receipt of confirmation and reconciliation of balances from loans and advances, trade payables (including MSME), and other liabilities
  • Lack of sufficient audit evidence for identification of micro and small enterprises and dues thereon
  • Non-provision for interest on dues to micro and small enterprises as required under MSMED Act, 2006
  • Non-estimation and provision for interest and penalty on earlier years' statutory dues paid during the year

The auditor stated that the resultant impact on the financial results is not ascertainable.

Exceptional Items Explanation

Exceptional items represent reversal of provision for change in fair value of investments (NCD) - net ₹295.63 lakhs pursuant to sale and ₹7.20 lakhs pursuant to fair value changes of continuing investments.

Other Disclosures

  • Balances of trade payables, loans and advances, and other liabilities are subject to confirmation/reconciliation
  • Certain statutory dues (GST/VAT/PF/TDS) could not be paid on due dates in earlier years due to cash flow issues, but were remitted during previous year
  • Delayed payment charges (interest and penalties) are not ascertainable and will be accounted when demanded and settled
  • Company assessed financial impact of contract prolongation and believes no additional costs beyond estimates will be incurred
  • Previous period figures have been regrouped/reclassified where necessary