Key Decisions and Financial Results

The Board of Directors, in a meeting held via video conferencing on Tuesday, November 03, 2026 (from 03:00 PM to 07:35 PM), considered and approved the following:

1. The Un-Audited Standalone and Consolidated Financial Results for the Quarter and Half year ended September 30, 2026.

2. The accompanying draft Limited Review Report pursuant to Regulation 33 of the SEBI (LODR) Regulations, 2015.

Trading Window Closure

The Trading Window for dealing in the company's shares was closed for all Directors, KMPs, Designated Employees, and Connected Persons from October 01, 2026. It was to remain closed until 48 hours after the declaration of the financial results for the quarter ended September 30, 2026, in accordance with SEBI (Prohibition of Insider Trading) Regulations and the company's internal code.

Standalone Financial Highlights (Q2 FY27 vs Q2 FY26)

  • Revenue from Operations: ₹45.00 Lakhs (vs ₹335.00 Lakhs) - solely from Pharmaceutical business; Jewellery business reported ₹0.00.
  • Other Income: ₹19.02 Lakhs (vs ₹15.71 Lakhs)
  • Total Income: ₹64.02 Lakhs (vs ₹350.71 Lakhs)
  • Total Expenses: ₹25.88 Lakhs (vs ₹12.96 Lakhs)
  • Profit Before Tax: ₹38.14 Lakhs (vs ₹337.75 Lakhs)
  • Tax Expense: ₹11.58 Lakhs (Current Tax for H1)
  • Profit for the Period (Net Profit): ₹26.56 Lakhs (vs ₹252.72 Lakhs)
  • Other Comprehensive Income (Loss): -₹313.23 Lakhs (vs ₹50.67 Lakhs)
  • Total Comprehensive Income (Loss): -₹286.67 Lakhs (vs ₹303.39 Lakhs)
  • Basic & Diluted EPS: ₹0.02 (vs ₹0.53)

Standalone Financial Highlights (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹90.00 Lakhs (vs ₹350.00 Lakhs)
  • Other Income: ₹35.63 Lakhs (vs ₹34.39 Lakhs)
  • Total Income: ₹125.63 Lakhs (vs ₹384.39 Lakhs)
  • Total Expenses: ₹277.39 Lakhs (vs ₹34.12 Lakhs)
  • Profit/(Loss) Before Tax: -₹151.76 Lakhs (vs ₹350.27 Lakhs)
  • Tax Expense (Credit): -₹11.58 Lakhs (vs ₹88.17 Lakhs)
  • Profit/(Loss) for the Period: -₹163.34 Lakhs (vs ₹262.10 Lakhs)
  • Other Comprehensive Income: ₹375.79 Lakhs (vs ₹76.07 Lakhs)
  • Total Comprehensive Income: ₹212.45 Lakhs (vs ₹338.18 Lakhs)
  • Basic & Diluted EPS: -₹0.11 (vs ₹0.55)

Consolidated Financial Highlights (Including Associate)

The consolidated results include the company's share of net loss from its associate, Ferry Automotive Private Limited (33.33% holding).

  • Q2 Profit/(Loss) for the period: ₹20.93 Lakhs (Standalone: ₹26.56 Lakhs)
  • H1 Profit/(Loss) for the period: -₹193.89 Lakhs (Standalone: -₹163.34 Lakhs)
  • Share of Loss from Associate (Q2): ₹5.63 Lakhs
  • Share of Loss from Associate (H1): ₹30.55 Lakhs

Capital Structure

  • Paid-up Equity Share Capital: ₹1,441.50 Lakhs (14.415 million shares of ₹1/- each)
  • Reserves and Surplus (Standalone): ₹4,443.38 Lakhs (as of Sept 30, 2026)

Balance Sheet (Standalone as of Sept 30, 2026)

  • Total Assets: ₹5,450.23 Lakhs
  • Investments: ₹3,584.28 Lakhs
  • Loans and Advances: ₹554.00 Lakhs (Non-Current); ₹676.65 Lakhs (Current)
  • Cash & Cash Equivalents: ₹400.95 Lakhs
  • Trade Receivables: ₹44.84 Lakhs
  • Inventories: ₹51.46 Lakhs
  • Total Equity: ₹5,366.29 Lakhs
  • Borrowings: ₹38.59 Lakhs

Significant Event: Land Purchase Agreement

  • The company entered a Memorandum of Understanding on March 06, 2026, with Elegant Floriculture & Agrotech (India) Limited.
  • The object was to purchase ~4.91 hectares of agricultural land in Gut No. 358, Village Mouje Kashal, Taluka Maval, Pune, Maharashtra.
  • The initial total consideration was ₹18.00 Crore.
  • As of September 30, 2026, an advance of ₹5.29 Crore was paid and classified as 'Capital Advance' under Other non-current assets.
  • Subsequent Event (Post-Qtr): An Addendum dated October 30, 2026, was executed which:
  • Revised the total consideration to ₹19.50 Crore.
  • Capped the aggregate advance at ₹6.00 Crore.
  • Acknowledged an aggregate payment of ₹5.625 Crore made by the company.
  • Extended the timeline for payment of the balance consideration (₹13.875 Crore) and execution of the sale deed by up to one year from the original agreement date (i.e., until March 05, 2027).

Auditor Review

  • The statutory auditors, Vimal C. Surana & Co., conducted a limited review of the results.
  • They issued an unmodified review report for both the standalone and consolidated financial results, stating nothing came to their attention to believe the statements contained material misstatements.
  • For consolidation, the associate's (Ferry Automotive) financial information was unaudited/unreviewed and certified by management; it was deemed not material to the group.

Other Information

  • The company has two reportable segments: Pharmaceutical Business and Jewellery Business.
  • Tax expense for the quarter includes current tax for the entire half-year ended September 30, 2026.
  • No investor complaints were pending at the start or end of the quarter; nil were received and resolved during the quarter.