Board Meeting Details

The Board of Directors meeting was held on Saturday, 30th May 2026 through video conferencing and other audio-visual means. The meeting commenced at 05:10 PM and concluded at 06:30 PM.

Financial Results Approval

The Board considered and approved the audited financial results for the half year and financial year ended 31st March 2026 along with the Auditors' Report.

Key Financial Figures (Standalone, in ₹ Lakhs)

Income Statement:

  • Revenue from Operations: FY26: ₹2,721.73 (FY25: ₹1,228.13); H2 FY26: ₹480.41 (H1 FY26: ₹2,241.32)
  • Total Income: FY26: ₹2,721.73 (FY25: ₹1,228.13)
  • Total Expense: FY26: ₹2,634.74 (FY25: ₹402.26)
  • Net Profit before tax: ₹9.07 (Previous period: ₹13.50)

Balance Sheet as at 31.03.2026:

Assets:

  • Property, Plant and Equipment: ₹10.09 (Previous: ₹12.49)
  • Financial Assets (Loans): ₹831.66
  • Trade Receivables: ₹6,297.36 (Previous: ₹2,223.42)
  • Cash and cash equivalents: ₹3.07 (Previous: ₹2.68)
  • Other current assets: ₹263.35 (Previous: ₹2,888.17)
  • Total Assets: ₹5,976.47

Liabilities and Equity:

  • Equity share capital: ₹1,702.40
  • Other Equity: ₹1,760.78 (Previous: ₹1,754.00)
  • Borrowings (Non-current): ₹126.92 (Previous: ₹536.02)
  • Trade payables: ₹3,733.82 (Previous: ₹1,776.54)
  • Other current liabilities: ₹12.12 (Previous: ₹137.87)
  • Short Term Provisions: ₹68.45 (Previous: ₹60.42)
  • Current tax liabilities: ₹2.28 (Previous: ₹9.22)

Cash Flow Statement:

  • Cash Generated from operations: ₹417.43 (Previous: -₹3,137.49)
  • Net Cash from Operating Activities: ₹417.43 (Previous: -₹3,137.49)
  • Net Cash from Investing Activities: ₹0.00 (Previous: ₹8.11)
  • Net Cash used in Financing Activities: -₹417.04 (Previous: ₹3,136.87)
  • Net Increase in Cash & Cash Equivalents: ₹0.39 (Previous: -₹8.73)

Emphasis of Matter by Auditors

The auditors highlighted several material uncertainties:

  • Outstanding balances of trade receivables, trade payables and unsecured loans received are subject to confirmation and supporting documents
  • The company has not complied with statutory compliances related to e-way bill and e-invoice
  • The company is not regular in paying statutory dues on timely manner
  • For purchase of goods, the company has not complied with Section 194Q of the Income Tax Act, 1961 regarding TDS on purchase of goods exceeding ₹50 lakhs from one party
  • The company has pending income tax dues of last two years amounting to approximately ₹45-50 lakhs

Rights Issue Fund Utilization

The company raised ₹2,861.64 lakhs through a rights issue on 25th September 2024. The Statement of Deviation and Variation confirms:

  • No deviation/variation in use of funds raised
  • Funds utilized as per original objects: ₹2,146.64 lakhs for working capital and ₹715.00 lakhs for general corporate purposes
  • Monitoring agency: Not applicable