Key Financial Figures - Standalone (₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Total Income: ₹17.48
  • Total Expenses: ₹38.31
  • Loss Before Tax: ₹(20.83)
  • Deferred Tax: ₹1.75
  • Net Loss: ₹(22.58)
  • Basic EPS: ₹(0.10)

Half Year Ended September 30, 2026:

  • Total Income: ₹38.38
  • Total Expenses: ₹75.54
  • Loss Before Tax: ₹(37.16)
  • Deferred Tax: ₹4.09
  • Net Loss: ₹(41.25)
  • Basic EPS: ₹(0.19)

Key Financial Figures - Consolidated (₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Total Income: ₹17.71
  • Total Expenses: ₹38.17
  • Loss Before Tax: ₹(20.46)
  • Deferred Tax: ₹1.74
  • Net Loss: ₹(22.20)
  • Basic EPS: ₹(0.10)

Half Year Ended September 30, 2026:

  • Total Income: ₹39.06
  • Total Expenses: ₹75.91
  • Loss Before Tax: ₹(36.85)
  • Deferred Tax: ₹4.13
  • Net Loss: ₹(40.98)
  • Basic EPS: ₹(0.19)

Audit Qualifications and Observations

The statutory auditors, V Sahai Tripathi & Co, issued a limited review report with the following qualifications:

1. Non-provision of Interest: The company has not provided interest amounting to approximately ₹142.88 lakh for the quarter ended September 30, 2026, comprising:

  • ₹40.40 lakh interest on 19.5% Debentures @ 10% as per offer letter
  • ₹102.48 lakh interest on bills payable and fixed deposits

This non-provision understates the loss for the quarter by ₹142.88 lakh.

2. One Man Committee Scheme: Interest of ₹1,683 lakh (₹235 lakh to Debenture Holders and ₹1,448 lakh to Fixed Depositors) under Phase-2 of the Schedule of Payments laid down by the One Man Committee has not been provided in the financial statements. Had this interest been provided, the cumulative net loss as at March 31, 2026 would have been higher by ₹1,340 lakh.

3. Debenture Redemption Reserve: For redemption of 'B' series debentures of ₹2,014.98 lakh, a debenture redemption reserve of ₹2,014.98 lakh has not been created due to insufficient profits.

4. Security Value Depletion: The value of assets charged as security may have been depleted over time, but the extent of shortfall has not been ascertained.

5. Balance Confirmations: Balance confirmations for various receivables, payables, bank balances, and deposits have not been received from concerned parties.

Legal and Contingent Matters

One Man Committee: Justice Anil Kumar was appointed as a one man committee by the Hon'ble High Court of Delhi on September 3, 2015 to resolve depositor disputes. The committee submitted its report on April 22, 2016, which was accepted by the court on August 10, 2017. Mr. Laxmi Kant Gaur, District Judge (Retd.) was appointed as the new One Man Committee on July 29, 2021 following the demise of Justice Anil Kumar.

NBCC Arbitration Dispute: A contingent liability of ₹288.29 lakh exists from a dispute with NBCC Ltd regarding office premises purchased in 1995. The breakdown is:

  • Difference in super area vs provisional area: ₹229.28 lakh
  • Claim of property tax: ₹3.19 lakh
  • Claim of ground rent: ₹21.67 lakh
  • Allied charges: ₹7.82 lakh
  • Augmentation of electric sub station: ₹1.33 lakh
  • Loss of profit: ₹20.00 lakh
  • Arbitration cost: ₹5.00 lakh

An award was given in FY2021 where NBCC was awarded ₹41.06 lakh (against claim of ₹434.95 lakh) and DCM was awarded ₹78.97 lakh (against counter claim of ₹3,269.50 lakh). Both parties have filed objections in Delhi High Court.

Capital Structure

  • Paid-up Equity Share Capital: ₹2,212.51 lakh (Face Value ₹10 each)
  • Other Equity: ₹(7,326.59) lakh (standalone); ₹(7,310.38) lakh (consolidated)

Cash Flow Statement - Standalone (Half Year Ended September 30, 2026)

  • Net cash used in operating activities: ₹(10.25) lakh
  • Net cash from investing activities: ₹21.67 lakh
  • Net cash used in financing activities: ₹(2.93) lakh
  • Net increase in cash: ₹8.49 lakh

Assets and Liabilities Position - Standalone (As at September 30, 2026)

Total Assets: ₹1,972.39 lakh

  • Non-current assets held for sale: ₹1,044.76 lakh
  • Other financial assets: ₹413.14 lakh
  • Other non-current assets: ₹146.16 lakh
  • Investments: ₹84.55 lakh
  • Bank balances: ₹222.23 lakh
  • Cash and cash equivalents: ₹25.28 lakh

Total Liabilities: ₹1,972.39 lakh

  • Borrowings (current): ₹6,719.99 lakh
  • Borrowings (non-current): ₹207.70 lakh
  • Other financial liabilities: ₹75.03 lakh
  • Deferred tax liabilities: ₹95.65 lakh

Outstanding Defaults

As per the disclosure format:

  • Loans from banks/financial institutions: ₹0.25 crore outstanding, no default
  • Unlisted debt securities: ₹16.02 crore outstanding, no default
  • Total financial indebtedness: ₹16.27 crore