Company Disclosures: Q1 FY27 Unaudited Financial Results
Financial Results Summary
Quarter Ended 30th June 2026 (Unaudited):
- Revenue from operations: ₹0.00 (no operations)
- Other income: ₹0.00
- Total income: ₹0.00
- Total expenses: ₹28.65 lakh
- Cost of materials consumed: ₹16.20 lakh
- Employee benefit expenses: ₹0.00
- Depreciation and amortization: ₹1.75 lakh
- Other expenses: ₹10.70 lakh
- Profit before tax: (₹28.65) lakh loss
- Tax expense: ₹0.63 lakh (current tax)
- Profit for the period: (₹29.28) lakh net loss
- Other comprehensive income: ₹602.50 lakh
- Total comprehensive income for the period: ₹573.22 lakh profit
- Basic and diluted EPS: (₹0.03) per share
Comparative Figures:
- Q1 FY26 (30.06.2025): Revenue ₹902.64 lakh, Profit before tax ₹12.65 lakh, Net profit ₹10.44 lakh
- Q4 FY26 (31.03.2026): Total income ₹65.56 lakh, Profit before tax (₹47.62) lakh loss, Net profit ₹7.90 lakh
- Full Year FY26 (31.03.2026): Revenue ₹912.18 lakh, Total income ₹1,141.47 lakh, Profit before tax (₹218.66) lakh loss
Capital Structure:
- Paid-up equity share capital: ₹1089.55 lakh (Face value: Re. 1 per share; Previous year: ₹10 per share)
- Other equity (excluding revaluation reserves): Not quantified for current quarter
Operational and Business Context
The company has suspended all business activities with no revenue from operations during the quarter. The manufacturing operations were closed following a Board decision on 14th February 2025 due to ageing plant, obsolescence of machinery and technology, and increased production costs.
During the previous year, the company disposed of plant and machinery as scrap and sold the factory land separately after receiving no viable offers for the manufacturing unit as a going concern. The company is currently evaluating opportunities to undertake real estate development on its land situated at Jamshedpur.
The financial statements have been prepared on a going concern basis based on management's assessment that proposed real estate development and other available resources would enable the company to continue operations and discharge obligations.
Auditor's Review and Qualifications
Statutory Auditor M/s. P. D. Rungta & Co. issued a qualified conclusion on the financial results, noting that balances under trade receivables, advances (debit/credit), and trade payables are subject to confirmations and adjustments. The consequential impact of pending confirmations and reconciliations on the financial statements could not be ascertained.
The auditor also emphasized the matter of manufacturing operations cessation and the going concern assumption as described in Note 4 to the financial statements.