Board Meeting Outcomes
The Board of Directors meeting commenced at 05:00 pm and concluded at 06:10 pm on October 31, 2026. Key approvals included:
1. Un-audited Financial Results
- Approved un-audited financial results for quarter ended September 30, 2026 (Q2) and half year ended September 30, 2026 (H1)
- Results reviewed by Audit Committee and statutory auditors
- Statutory auditors issued unqualified review opinion
2. Related Party Transactions Disclosure
- Approved inclusion of additional Special Business (Item No. 3) for EGM
- Seeking shareholder approval for material Related Party Transactions under Section 188 of Companies Act, 2013 and Regulation 23 of SEBI Listing Regulations
- Compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 and updated circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026
3. EGM Notice Revisions
- Approved replacement of Proposed Allottee at serial No. 8: Innovative Infraplus India Limited replaced with Andiela Traders LLP (Ultimate Beneficial Owner: Mr. Nilesh Patel) for 15,83,000 Warrants totaling ₹31,74,13,000
- Approved extension of utilization timeline for ₹322 crore issue proceeds from March 2027 to March 2028
Financial Results (Quarter Ended September 30, 2026)
Consolidated Performance (₹ in Lakhs)
- Revenue from operations: ₹37.50
- Other income: ₹20.30
- Total Revenue: ₹77.80
- Total Expenses: ₹38.33
- Profit before tax: ₹42.04
- Tax expenses: ₹10.00 (current tax)
- Net profit for period: ₹3.29
- EPS Basic: ₹0.10; EPS Diluted: ₹0.10
- Paid up equity share capital: ₹335.00 (Face value ₹10 each)
Half Year Performance (₹ in Lakhs)
- Revenue from operations: ₹37.50
- Other income: ₹62.82
- Total Revenue: ₹100.32
- Total Expenses: ₹48.27
- Profit before tax: ₹52.05
- Tax expenses: ₹10.00 (current tax)
- Net profit for period: ₹42.05
- EPS Basic: ₹0.13; EPS Diluted: ₹0.12
Related Party Transactions Details
Five related party transactions proposed for shareholder approval:
1. Seher Retail Private Limited
- Relationship: Private Company in which Promoters are Directors & Shareholders
- Interested Directors/KMPs: Mrs. Anar Patel, Mr. Dakshesh Shah and Relatives
- Nature: Purchase and sell of goods and services, Procurement and supply of finished goods commercial inventory
- Pricing: Based on prevailing market pricing, standard costs, and corporate logistics terms on deliverables
- Maximum Value: Upto 10 Crore per financial year
- Tenure: 5 Financial Years
- Rationale: Managing available resources and facilitates essential products in cost-effective manner
2. Gramshree Women Empowerment Limited
- Relationship: Company in which Promoters are Directors & Shareholders
- Interested Directors/KMPs: Mrs. Anar Patel and her Relatives
- Nature: Purchase and sell of goods and services, Trading of retail project execution for boutique setups
- Pricing: Execution based on fair value standard material procurement, architectural parameters on Arm's Length Basis
- Maximum Value: Upto 10 Crore per financial year
- Tenure: 5 Years
- Rationale: Strengthen specialized branding for "Craftroots" brand avoiding heavy overheads
3. Navkar Urbanstructure Medtech Texchem
- Relationship: Company in Promoter of a Company
- Interested Directors/KMPs: Mr. Dakshesh Shah & Relatives
- Nature: Purchase and sell of goods and services, labour
- Pricing: Based on prevailing market pricing, timelines, credit and corporate logistics terms
- Maximum Value: Upto 10 Crore per financial year
- Tenure: 5 Financial Years
- Rationale: Enhance resource deployment and grants setup expertise
4. Shukra limited
- Relationship: Promoter and Director of a Company
- Interested Directors/KMPs: Mrs. Anar Patel, Mr. Dakshesh Shah
- Nature: Trading and services
- Pricing: Based on fair market value, standard corporate logistics terms on Arm's Length Basis
- Maximum Value: Upto 10 Crore per financial year
- Tenure: 5 Financial Years
- Rationale: Cost-effective deployment without deep investment setups
5. Parshva (India) Private Limited
- Relationship: Company in which Promoters are Directors & Shareholders
- Interested Directors/KMPs: Mrs. Anar Patel, Mr. Dakshesh Shah and Relatives
- Nature: Purchase and sell of Goods/Services, Trading and labour
- Pricing: Based on prevailing fair value pricing, clear credit timelines, and corporate logistics terms
- Maximum Value: Upto 10 Crore per financial year
- Tenure: 5 Financial Years
- Rationale: Utilize resource grants for cost-effective access to essential product lines
Standalone Financial Position (as at September 30, 2026)
Assets (₹ in Lakhs)
- Property Plant and Equipment: ₹15.24
- Loan (Financial Assets): ₹130.92
- Deferred Tax Assets: ₹0.80
- Total Non-current Assets: ₹146.96
- Inventories: ₹260.94
- Trade Receivable: ₹2,367.22
- Cash and Cash Equivalents: ₹55.07
- Bank Balance other than cash: ₹77.71
- Other Financial Assets: ₹19.35
- Other Current Assets: ₹192.01
- Total Current Assets: ₹2,972.30
- Total Assets: ₹3,119.26
Liabilities and Equity (₹ in Lakhs)
- Equity Share Capital: ₹335.00
- Other Equity: ₹77.55
- Total Equity: ₹412.55
- Borrowings (Non-current): ₹104.36
- Total Non-current Liabilities: ₹104.36
- Trade Payables: ₹2,585.35
- Provisions: ₹13.00
- Other Current Liabilities: ₹2.01
- Total Current Liabilities: ₹2,602.36
- Total Equity and Liabilities: ₹3,119.26
Cash Flow Statement (Quarter Ended September 30, 2026)
- Cash flow from Operating Activities: ₹120.17 lakhs
- Cash flow from Investing Activities: ₹1.83 lakhs
- Cash flow from Financing Activities: Not specified
- Net increase in Cash and Cash Equivalents: ₹121.99 lakhs
- Cash and Cash Equivalents at beginning: ₹10.79 lakhs
- Cash and Cash Equivalents at end: ₹132.78 lakhs
Additional Information
- Financial statements prepared in accordance with Accounting Standards under Section 133 of Companies Act, 2013
- Company operating in single segment
- 0 complaints received during quarter ended September 30, 2026
- Previous period figures regrouped/reclassified where necessary