Financial Performance Highlights

  • Revenue from Operations: ₹0 (FY25: ₹0)
  • Other Income: ₹2.21 million (FY25: ₹13.76 million)
  • Total Income: ₹2.21 million (FY25: ₹13.76 million)
  • Loss before Tax: ₹(6.15) million (FY25: Profit of ₹7.18 million)
  • Tax Expense: ₹(1.55) million (deferred tax) (FY25: ₹(5.63) million)
  • Net Loss after Tax: ₹(4.60) million (FY25: Net Profit of ₹12.81 million)
  • Total Comprehensive Loss: ₹(4.60) million (FY25: Profit of ₹12.81 million)
  • Earnings Per Share: ₹(2.60) (FY25: ₹7.23)

Key Financial Position (as at March 31, 2026)

  • Total Assets: ₹20.27 million (FY25: ₹20.84 million)
  • Property, Plant and Equipment: ₹7.63 million (FY25: ₹7.85 million)
  • Cash and Cash Equivalents: ₹3.38 million (FY25: ₹4.65 million)
  • Total Equity: Negative ₹(21.05) million (FY25: Negative ₹(16.45) million)
  • Total Liabilities: ₹41.32 million (FY25: ₹37.28 million)
  • Borrowings: ₹39.90 million (FY25: ₹35.40 million)
  • Current Ratio: 0.08 (FY25: 0.14)
  • Interest Service Coverage Ratio: 0.41 (FY25: 3.91)

Operational Update

The Rubberwood Factory has not been operational for nearly 28 years pursuant to notice received from the Deputy Conservator of Forests (Protection), Trivandrum. During the year, the company earned commission income of ₹2.21 million from assisting clients in developing their business. The company is developing its land assets in Goa, which forms the basis for maintaining its going concern status despite having a fully eroded net worth.

Share Capital

  • Issued, Subscribed and Paid-up Capital: ₹17.72 million divided into 1,771,908 equity shares of ₹10 each fully paid-up
  • No change in share capital structure during the year
  • Shares listed on: BSE Limited (Scrip Code: 508571)
  • Listing fees for FY 2026-27 have been paid

Board and Management Changes

  • Demise: Jay Kumar Surana (Independent Director) passed away on March 17, 2026
  • Retirement by Rotation: Hemant Bangur retires by rotation and offers himself for re-appointment
  • Re-appointment: C.P. Sharma as Wholetime Director for a further 3 years from June 15, 2026, at a consolidated salary of ₹60,000 per annum
  • New Appointment: Ghanshyam Mundhra appointed as Additional Independent Director from July 24, 2026, proposed for appointment as Independent Director for 5 years

Key Managerial Personnel

  • Wholetime Director: C.P. Sharma
  • Chief Financial Officer: Arun Kumar Ruia
  • Company Secretary: Mohit Kandoi

Auditors

  • Statutory Auditors: Singhi & Co., Kolkata (Firm Registration No. 302049E)
  • Appointed for 5 years till conclusion of AGM for FY 2028-29
  • No qualifications, reservations, or adverse remarks in their report
  • Secretarial Auditors: Maheshwari Soni Kapoor & Associates
  • No qualifications, reservations, or adverse remarks in their report
  • Reappointed for FY 2026-27

AGM Details

  • Date: September 25, 2026
  • Time: 11:30 AM
  • Mode: Video Conferencing/Other Audio Visual Means
  • Business:
  • Adoption of audited financial statements
  • Re-appointment of Hemant Bangur as Director
  • Re-appointment of C.P. Sharma as Wholetime Director (Special Resolution)
  • Appointment of Ghanshyam Mundhra as Independent Director (Special Resolution)

Register Closure Dates

  • Register of Members and Share Transfer Books will remain closed from September 21, 2026 to September 25, 2026 (both days inclusive)

Related Party Transactions

All related party transactions are on arm's length basis and in ordinary course of business. Significant transactions include:

  • Loan received from related parties: ₹6.50 million (FY25: ₹6.40 million)
  • Loan repaid to related parties: ₹2.00 million (FY25: ₹19.30 million)
  • Interest paid to related parties: ₹1.41 million (FY25: ₹1.99 million)

Contingent Liabilities

  • Income Tax under Appeal: ₹151.24 million (Payment under protest: ₹1.27 million)
  • Central Sales Tax/VAT: ₹56,450 (Payment under protest: ₹56,450)

Other Key Disclosures

  • The company has not accepted any public deposits
  • No loans, guarantees, or investments were made during the year
  • No subsidiary, joint venture, or associate companies
  • No dividend recommended for FY26
  • No amounts required to be transferred to Investor Education and Protection Fund
  • No instances of fraud reported during the year
  • Whistle Blower Policy is in place
  • No complaints under Sexual Harassment of Women at Workplace Act, 2013
  • Corporate Social Responsibility provisions not applicable