Board Meeting Details

The Board Meeting was originally held on August 13, 2026, adjourned on August 14, 2026, and finally concluded on August 15, 2026. The meeting commenced at 5:00 PM (IST) and concluded at 7:00 PM.

Key Decisions and Approvals

1. Financial Results Approval

  • The Board considered and approved the unaudited Standalone Financial Results of the Company for the quarter ended June 30, 2026.
  • The financial results were reviewed by the audit committee and approved by the Board of Directors.

2. Resignation of Chief Financial Officer

  • Accepted the resignation of Mr. Nachiket Patil (DIN: 02417598) as Chief Financial Officer and Key Managerial Personnel.
  • Resignation effective from August 15, 2026.
  • Reason for resignation: Following the demise of Late Mr. Ashok Patil (Non-Executive Director and Promoter) on May 24, 2026, the Board decided to induct Mr. Nachiket Patil as a Non-Executive Director in the Promoter category.
  • Mr. Nachiket Patil confirmed no other material reasons for resignation beyond those stated.

3. Appointment of Additional Director

  • Appointed Mr. Nachiket Patil (DIN: 02417598) as Additional Director in the category of Non-Executive Director - Promoter.
  • Appointment effective from August 15, 2026, pursuant to Sections 149, 152, 161 and other applicable provisions of the Companies Act, 2013.
  • Term: Shall hold office up to the date of the next Annual General Meeting or the last date on which the Annual General Meeting should have been held, whichever is earlier.
  • Profile: Mechanical Engineer from Government College of Engineering, Pune University (2003), MBA from Purdue University (2008), over 24 years of experience in engineering and company management.
  • Relationship: Son of Late Mr. Ashok Patil and Ms. Jayashree Patil (Managing Director), husband of Ms. Sayali Patil (new CFO).
  • Shareholding: 4990 Equity Shares.
  • No directorships in other listed entities.
  • Not debarred from holding office by SEBI or any statutory authority.

4. Appointment of Chief Financial Officer

  • Appointed Ms. Sayali Patil as Chief Financial Officer and Key Managerial Personnel.
  • Appointment effective from August 15, 2026, pursuant to Section 203 and other applicable provisions of the Companies Act, 2013.
  • Qualifications: Bachelor of Commerce (B.Com.) and Master of Business Administration (MBA).
  • Experience: Over 16 years of professional experience, including work with Air Control India Pvt. Ltd. since 2010 handling General Administration, Finance and Accounts. Previously worked with a large real estate construction company.
  • Relationship: Wife of Mr. Nachiket Patil (Additional Director), daughter-in-law of Ms. Jayashree Patil (Managing Director).
  • Not debarred from holding position by SEBI or any statutory authority.

Financial Results for Quarter Ended June 30, 2026

Standalone Unaudited Financial Results (Rupees in lacs)

| Particulars | Q2 2026 (Jun) | Q4 2026 (Mar) | Q2 2025 (Jun) | FY 2026 (Mar) |

| Revenue From Operations | 9.75 | 9.75 | 3.25 | 40.12 |

| Other Income | - | 0.21 | - | 0.21 |

| Total Revenue | 9.75 | 9.96 | 3.25 | 40.33 |

| Total Expenses | 14.41 | 22.64 | 22.21 | 85.93 |

| Profit/Loss Before Tax | (4.66) | (12.68) | (18.96) | (45.60) |

| Tax Expenses | - | - | - | - |

| Net Profit/Loss After Tax | (4.66) | (12.68) | (18.96) | (45.60) |

| Total Comprehensive Income | (4.66) | (12.68) | (18.96) | (45.60) |

| Paid-up Equity Share Capital | 500.00 | 500.00 | 500.00 | 500.00 |

| Reserves | (785.92) | (781.26) | (750.33) | (781.26) |

| EPS - Basic (₹) | (0.09) | (0.25) | (0.38) | (0.91) |

| EPS - Diluted (₹) | (0.09) | (0.25) | (0.38) | (0.91) |

Expense Breakdown (Rupees in lacs)

  • Employee Benefits: 0.84
  • Finance Cost: -
  • Depreciation & Amortization: 2.65
  • Operating and Other Expenses: 10.92

Segment-wise Results (Rupees in lacs)

The company operates in two segments: Aquaculture (Fishery) and Shipbuilding (Shipyard).

| Segment | Revenue Q2 2026 | Segment Result Q2 2026 |

| Fishery | 0.00 | (0.79) |

| Shipyard | 9.75 | 9.07 |

Capital Employed (Rupees in lacs as of June 30, 2026)

  • Segment Assets: Fishery (72.47), Shipyard (100.36), Unallocated (356.86)
  • Total Assets: 529.69
  • Segment Liabilities: Unallocated (932.05)
  • Total Liabilities: 932.05

Auditor Review

  • Palsule & Associates, Chartered Accountants (FRN: 131397W) issued a limited review report.
  • Review conducted in accordance with Standard on Review Engagement (SRE) 2410.
  • Nothing came to their attention that causes them to believe the financial results contain material misstatements or fail to disclose required information under Regulation 33 of SEBI LODR 2015.

Additional Documents Submitted

1. Unaudited Standalone Financial Results for quarter ended June 30, 2026

2. Limited Review Report by Statutory Auditors

3. Disclosures under regulation 30 of SEBI LODR 2015

4. Resignation letter of Mr. Nachiket Patil as CFO