Financial Results Overview

Quarter Ended 30th September, 2026 (Unaudited):

  • Revenue from operations: Not separately quantified in disclosure
  • Other income: Not separately quantified in disclosure
  • Total Income: Not clearly specified
  • Total Expenses: ₹311.98 lakhs
  • Loss before tax: ₹(311.98) lakhs
  • Tax expense: ₹(72.31) lakhs (deferred tax benefit)
  • Net loss for the quarter: ₹(239.67) lakhs
  • Other Comprehensive Income: ₹(122.71) lakhs
  • Total Comprehensive Loss: ₹(362.38) lakhs
  • Basic and Diluted EPS: ₹(0.22) per share

Half Year Ended 30th September, 2026 (Unaudited):

  • Loss before tax: ₹(340.62) lakhs
  • Tax expense: ₹(71.67) lakhs (deferred tax benefit)
  • Net loss: ₹(268.95) lakhs
  • Other Comprehensive Income: ₹479.79 lakhs
  • Total Comprehensive Income: ₹210.84 lakhs
  • Basic and Diluted EPS: ₹(0.25) per share

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

Assets:

  • Total Assets: ₹5103.45 lakhs
  • Non-current assets: ₹2004.70 lakhs (including Property, plant and equipment: ₹282.80 lakhs, Investments: ₹1473.24 lakhs, Deferred Tax Assets: ₹214.83 lakhs)
  • Current assets: ₹3081.98 lakhs (including Trade receivables: ₹2382.20 lakhs, Cash and cash equivalents: ₹5.46 lakhs, Loans & Advances: ₹290.00 lakhs)

Equity and Liabilities:

  • Total Equity: ₹4988.36 lakhs (Equity share capital: ₹1089.55 lakhs, Other equity: ₹3898.81 lakhs)
  • Current liabilities: ₹115.08 lakhs (Trade payables: ₹3.05 lakhs, Other liabilities: ₹112.00 lakhs)

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

  • Net cash used in operating activities: ₹(184.55) lakhs
  • Net cash from investing activities: ₹0
  • Net cash from financing activities: ₹0
  • Net decrease in cash and cash equivalents: ₹(184.55) lakhs
  • Cash and cash equivalents at beginning: ₹190.01 lakhs
  • Cash and cash equivalents at end: ₹5.46 lakhs

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 lakhs 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 at Vizianagaram as no viable offer was received for the manufacturing unit as a going concern.

5. The Company is presently 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 proposed real estate development and other available resources would enable continued operations.

Auditor's Review Report

Statutory auditors M/s. P. D. Rungta & Co. issued a modified review report with:

Qualified Conclusion:

  • Balances under Trade receivables, Advances at Debit/Credit and Trade Payables are subject to confirmations and adjustments
  • Consequential impact of pending confirmations and reconciliations could not be ascertained

Emphasis of Matter:

  • Highlighted the cessation of manufacturing operations and disposal of assets
  • Noted the going concern assumption based on real estate development plans