Key Financial Figures (Amount in ₹ Lacs)

Quarterly Performance (Q2 FY27)

  • Sales/Income from Operations: ₹24.50
  • Other Income: ₹19.82
  • Total Income: ₹44.32
  • Total Expenses: ₹231.92
  • Loss from Operations before Tax: (₹187.60)
  • Net Loss for the Quarter: (₹187.60)
  • Earnings Per Share (Basic & Diluted): (₹1.14)

Half-Yearly Performance (H1 FY27)

  • Sales/Income from Operations: ₹198.89
  • Other Income: ₹406.55
  • Total Income: ₹605.44
  • Total Expenses: ₹1,013.35
  • Loss from Operations before Tax: (₹407.91)
  • Net Loss for the Half Year: (₹407.91)
  • Earnings Per Share (Basic & Diluted): (₹2.49)

Balance Sheet Highlights as at 30.09.2026 (₹ Lacs)

  • Total Assets: ₹23,114.62
  • Property, Plant and Equipment: ₹11,213.08
  • Capital Work-in-Progress: ₹1,049.16
  • Investments: ₹2,251.89
  • Loans & Advances: ₹1,207.14
  • Inventories: ₹3,374.99
  • Trade Receivables: ₹360.44
  • Cash and Cash Equivalents: ₹11.26
  • Equity Share Capital: ₹1,639.50
  • Other Equity: (₹528.80)
  • Borrowings (Non-Current): ₹3,519.61
  • Other Financial Liabilities (Non-Current): ₹7,454.63
  • Borrowings (Current): ₹343.88
  • Trade Payables: ₹8,382.11

Cash Flow for H1 FY27 (₹ Lacs)

  • Net Cash from Operating Activities: ₹101.20
  • Net Cash used in Investing Activities: (₹542.16)
  • Net Cash from Financing Activities: ₹441.15
  • Net Increase in Cash & Equivalents: ₹0.19

Operational & Strategic Update

The company has suspended operations at its ferro alloys manufacturing facility since 30th May 2025 due to significant fluctuations in the market. Management states it will continue to monitor market conditions and take appropriate steps to resume operations at a suitable time.

Audit & Compliance Status

The unaudited financial results are prepared in accordance with Indian Accounting Standards (Ind AS) and relevant rules, except for Ind AS 16, 19, and 109.

The statutory auditors, M/s. PAVULURI & Co., have issued a qualified limited review report for the period. The key qualifications are:

1. Non-provision of Employee Benefits (Ind AS 19): The company has not made provisions for gratuity and leave encashment using the Projected Unit Credit Method, leading to an understatement of losses and liabilities. The financial impact is not quantified.

2. Uncertainty on Loans & Advances: Existence of material uncertainties over the realizability of interest-free loans and advances amounting to ₹12.07 crores. Had these been provided for, the loss would be higher and equity lower by the provision amount.

3. Inventory Verification & Valuation: The company has not undertaken periodic physical verification or obtained technical/market evaluation for inventories valued at ₹33.75 crore. Consequently, the realizable value may be lower than the carrying amount.

4. Lack of Balance Confirmations: The auditors could not confirm the accuracy of:

  • Trade payables of ₹8.04 crore
  • Other liabilities of ₹15.38 crore
  • Advances to suppliers of ₹23.15 crore

5. Verification of Fixed Assets: The management did not carry out scheduled physical verification of Property, Plant & Equipment, as required under Ind AS 16.

Management's view is that no adjustments are required in the books of account for these qualifications, as they believe all balances are correct and recoverable.

Capital Structure

  • The paid-up equity share capital remained unchanged at ₹1,639.50 lacs (Face Value ₹10/- each).