Board Meeting Details

The Board of Directors meeting was held on Wednesday, October 28, 2026 at 10:00 A.M at Meeting Room No 3, Oberoi Lobby, Oberoi, Mumbai, India. The meeting ended at 01:45 P.M.

Key Decisions Approved

1. The Standalone Un-audited financial results for the Quarter and half year ended September 30, 2026 as per Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 along with the Un-audited Statement of Assets and Liabilities and Unaudited Cash Flow Statement and the Limited Review Report.

2. Consideration of the cessation of office of Company Secretary and Compliance officer and authorization for fresh appointment.

3. Consideration of the receipt of a Letter of Intent from Chowgule and Company Private Limited, a Promoter of the Company, in connection with the proposed inter-se transfer of equity shares amongst the Promoters and Promoter Group, pursuant to the implementation of the Memorandum of Family Settlement dated January 11, 2021.

Financial Results Summary (Standalone, ₹ in Lakhs)

Quarter Ended September 30, 2026 (Unaudited)

  • Revenue from Operations: ₹59.80
  • Other Income: ₹50.59
  • Total Income: ₹110.39
  • Total Expenses: ₹115.04
  • Employee Benefits Expense: ₹18.13
  • Depreciation & Amortization: ₹8.20
  • Other Expenses: ₹88.71
  • Profit/(Loss) before tax: ₹(4.65)
  • Tax Expense: ₹16.19
  • Profit/(Loss) after tax: ₹(20.84)
  • Total Comprehensive Income/(Loss): ₹(20.84)
  • Earnings per Share (of ₹10 each):
  • Basic: ₹(0.06)
  • Diluted: ₹(0.06)

Quarter Ended September 30, 2025 (Unaudited) - Comparative

  • Revenue from Operations: ₹109.08
  • Other Income: ₹191.35
  • Total Income: ₹300.43
  • Total Expenses: ₹122.83
  • Profit/(Loss) before tax: ₹68.52
  • Tax Expense: ₹4.71
  • Profit/(Loss) after tax: ₹63.81
  • Total Comprehensive Income/(Loss): ₹63.81
  • Earnings per Share (of ₹10 each):
  • Basic: ₹0.18
  • Diluted: ₹0.18

Half Year Ended September 30, 2026 (Unaudited)

  • Revenue from Operations: ₹159.24
  • Other Income: ₹124.54
  • Total Income: ₹283.78
  • Total Expenses: ₹237.87
  • Profit/(Loss) before tax: ₹63.87
  • Tax Expense: ₹20.90
  • Profit/(Loss) after tax: ₹42.97
  • Total Comprehensive Income/(Loss): ₹42.97
  • Earnings per Share (of ₹10 each):
  • Basic: ₹0.12
  • Diluted: ₹0.12

Half Year Ended September 30, 2025 (Unaudited) - Comparative

  • Revenue from Operations: ₹142.07
  • Other Income: ₹159.67
  • Total Income: ₹301.74
  • Total Expenses: ₹221.89
  • Profit/(Loss) before tax: ₹61.89
  • Tax Expense: ₹18.35
  • Profit/(Loss) after tax: ₹43.54
  • Total Comprehensive Income/(Loss): ₹43.54
  • Earnings per Share (of ₹10 each):
  • Basic: ₹0.12
  • Diluted: ₹0.12

Statement of Unaudited Assets and Liabilities (As at September 30, 2026, ₹ in Lakhs)

Assets

  • Total Non-current assets: ₹2,170.04
  • Property, plant and equipment: ₹457.06
  • Investment property: ₹263.30
  • Financial Assets: ₹1,355.33
  • Investments: ₹0
  • Trade receivables: ₹0
  • Loans: ₹1,350.00
  • Other financial assets: ₹5.33
  • Other non-current assets: ₹94.75
  • Total Current assets: ₹3,299.01
  • Financial Assets: ₹3,188.42
  • Investments: ₹1,776.23
  • Trade receivables: ₹9.30
  • Cash and cash equivalents: ₹234.75
  • Bank balances other than cash: ₹0
  • Loans: ₹800.00
  • Other financial assets: ₹445.14
  • Current Tax Assets (Net): ₹23.56
  • Other current assets: ₹100.03
  • Total Assets: ₹5,469.05

Equity and Liabilities

  • Total Equity: ₹2,479.65
  • Equity Share capital: ₹3,630.84
  • Other equity: ₹(1,151.19)
  • Total Non-current liabilities: ₹261.37
  • Financial liabilities: ₹181.20
  • Provisions: ₹6.91
  • Deferred tax liabilities (Net): ₹73.26
  • Total Current liabilities: ₹728.43
  • Financial liabilities: ₹679.53
  • Other current liabilities: ₹2.93
  • Provisions: ₹(5.03)
  • Total Liabilities: ₹989.80
  • Total Equity and Liabilities: ₹5,469.05

Cash Flow Statement (Half Year Ended September 30, 2026, ₹ in Lakhs)

  • Net cash flow used in operating activities: ₹(157.19)
  • Net cash flow from investing activities: ₹381.64
  • Net cash flow used in financing activities: ₹0
  • Net Increase/(Decrease) in cash and cash equivalents: ₹224.45
  • Cash and cash equivalents - opening balance: ₹10.30
  • Cash and cash equivalents - closing balance: ₹234.75

Limited Review Report

M. N. Choksi & Co. LLP, Chartered Accountants, conducted a limited review of the unaudited standalone financial results. The review was performed in accordance with Standard on Review Engagements (SRE) 2410 issued by ICAI. The report dated October 28, 2026, states that nothing has come to their attention that causes them to believe that the statement contains any material misstatement.

Additional Information

  • The Company operates in only one business segment: Shipping
  • Previous year figures have been regrouped wherever necessary
  • The results were reviewed by the Audit Committee and approved by the Board of Directors
  • Results are available on the Company's Website and BSE Limited website