Financial Performance Highlights

Quarter Ended 30th September, 2026:

  • Revenue from operations: Not separately quantified (included in total income)
  • Other income: Not separately quantified (included in total income)
  • Total Income: Not separately quantified
  • Total Expenses: ₹311.98 lakh
  • Loss before tax: ₹311.98 lakh
  • Tax expense: ₹72.31 lakh (deferred tax)
  • Net loss for the period: ₹239.67 lakh
  • Other Comprehensive Income: ₹122.71 lakh (negative)
  • Total Comprehensive Income for the period: ₹362.38 lakh (negative)
  • Earnings per share (Basic and Diluted): ₹(0.22)

Half Year Ended 30th September, 2026:

  • Total Income: Not separately quantified
  • Total Expenses: ₹340.62 lakh
  • Loss before tax: ₹340.62 lakh
  • Tax expense: ₹71.67 lakh (deferred tax)
  • Net loss for the period: ₹268.95 lakh
  • Other Comprehensive Income: ₹479.79 lakh
  • Total Comprehensive Income for the period: ₹210.84 lakh
  • Earnings per share (Basic and Diluted): ₹(0.25)

Balance Sheet Position (as at 30th September, 2026)

  • Total Assets: ₹5103.45 lakh
  • Non-current assets: ₹2004.70 lakh (including Property, plant and equipment: ₹282.80 lakh, Investments: ₹1473.24 lakh)
  • Current assets: ₹3081.98 lakh (including Trade receivables: ₹2382.20 lakh, Cash and cash equivalents: ₹5.46 lakh)
  • Total Equity: ₹4988.36 lakh
  • Current liabilities: ₹115.08 lakh
  • Total Equity and Liabilities: ₹5103.45 lakh

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

  • Net cash used in operating activities: ₹(184.55) lakh
  • Net cash from investing activities: Nil
  • Net cash from financing activities: Nil
  • Net decrease in cash and cash equivalents: ₹(184.55) lakh
  • Cash and cash equivalents at beginning: ₹190.01 lakh
  • Cash and cash equivalents at end: ₹5.46 lakh

Key Operational and Strategic Updates

1. The company has suspended its business activities and currently has no reportable operating segments as per Ind AS 108.

2. Other expenses for the period include a provision of ₹289.80 lakh towards Expected Credit Loss on Trade Receivables outstanding for over 1 year.

3. The Board of Directors approved the closure of manufacturing operations on 14th February, 2025, due to ageing plant, obsolescence of machinery and technology, and increased production costs.

4. The company disposed of plant and machinery as scrap and sold the factory land separately during the previous year after receiving no viable offers for the manufacturing unit as a going concern.

5. The company is currently evaluating opportunities to undertake real estate development on its land situated at Jamshedpur.

6. The financial statements have been prepared on a going concern basis based on management's assessment that the proposed real estate development and other available resources will enable the company to continue operations.

Auditor's Review Report

Statutory auditors P. D. Rungta & Co. issued a qualified conclusion on the financial results due to:

  • Balances under Trade receivables, Advances, and Trade Payables being subject to confirmations and adjustments
  • Inability to ascertain consequential impact of pending confirmations and reconciliations

The auditors also included an Emphasis of Matter regarding the cessation of manufacturing operations and the going concern basis of preparation.