Board Meeting Details

The Board of Directors meeting was held on August 07, 2026, from 17:00 to 19:00 hours. The board approved the unaudited standalone and consolidated financial results and noted the limited review report from statutory auditors.

Standalone Financial Results (₹ in Lakhs)

Quarter Ended June 30, 2026:

  • Revenue from operations: ₹2,965.91
  • Other Income: ₹2.15
  • Total Revenue: ₹2,968.06
  • Total Expenses: ₹2,911.99
  • Profit before tax: ₹56.07
  • Tax Expense: ₹14.58 (Current tax: ₹14.58)
  • Net Profit for the period: ₹41.49
  • Earnings Per Share (Basic and Diluted): ₹0.002
  • Paid-up Equity Share Capital: ₹18,773.29 (Face Value ₹1 each)

Comparative Figures:

  • Q1 FY26 (June 30, 2025): Revenue ₹2,065.80, Net Profit ₹58.69, EPS ₹0.003
  • Q4 FY26 (March 31, 2026): Revenue ₹3,517.94, Net Profit ₹46.96, EPS ₹0.003
  • Full Year FY26: Revenue ₹10,546.47, Net Profit ₹152.10, EPS ₹0.008

Consolidated Financial Results (₹ in Lakhs)

Quarter Ended June 30, 2026:

  • Revenue from operations: ₹3,031.56
  • Other Income: ₹16.23
  • Total Revenue: ₹3,047.79
  • Total Expenses: ₹2,991.23
  • Profit before tax: ₹56.56
  • Tax Expense: ₹14.58
  • Net Profit for the period: ₹41.98
  • Share of Profit Attributable to Non-Controlling Interests: ₹0.66
  • Profit Attributable to Owners of Parent: ₹41.32
  • Paid-up Equity Share Capital: ₹18,773.29

Key Operational Highlights

New Business Division Launch:

The company commenced operations under its new division "Go EVEXIA" engaged in Electric Vehicle (EV) rental and mobility solutions during the quarter. This marks the company's entry into a new line of business distinct from existing operations.

  • Revenue from Go EVEXIA division: ₹2.72 lakh for Q1 FY27
  • Business is in initial phase with limited contribution to overall revenue
  • Management believes EV mobility sector offers significant long-term growth potential

Capital Structure Event

Warrant Forfeiture:

  • The company forfeited 24,00,00,000 Convertible Warrants issued on preferential basis at ₹23.60 per warrant
  • Warrant holders had paid 25% of issue price upfront (₹221.60 crore)
  • Balance 75% consideration not received within stipulated 18-month period from allotment date
  • Amount received aggregating to ₹221.60 crore transferred to Capital Reserve
  • No impact on company's profitability for the quarter
  • Action taken pursuant to Board Resolution No. 6 dated May 09, 2026, and SEBI ICDR Regulations 2018

Auditor's Limited Review Report Qualifications

Statutory auditors Tejas K. Soni and Company issued a limited review report with several significant qualifications:

1. Loans Receivables: ₹735.13 lakh with significant credit risk increase, no expected credit loss assessment made by management

2. Trade Receivables: ₹2,943.89 lakh with significant credit risk increase, no expected credit loss assessment made

3. Investments: ₹87.39 lakh in unquoted equity shares, company unable to determine fair valuation

4. Subsidiary Concerns: Kavit Edible Oil Limited suspended manufacturing since March 2019

  • Company exposure: ₹127.70 lakh (Equity + unsecured loan)
  • Subsidiary has negative net worth as of March 31, 2026
  • Substantial doubt about subsidiary's going concern status

5. General Audit Issues: Several instances of material misstatements, non-compliance with financial reporting framework, improper valuation of financial instruments, inadequate provision recognition, missing documentation, and inability to verify significant transactions due to lack of audit evidence

Emphasis of Matter:

  • Company involved in direct tax litigations and statutory compliance matters
  • Management considers matters contestable based on legal advice
  • No material adjustment considered necessary in financial results

Subsidiary Information

Consolidated Subsidiaries:

1. Kavit Cables Private Limited (India)

2. Kavit Edible Oil Limited (India)

3. Diponed Bio Private Limited (India)

4. Diponed International Research Private Limited (India)

5. Evexia Lifecare Africa Ltd (UK)

6. Evexia PAN Africa Ltd (Tongo)

Excluded from Consolidation:

  • Vital's Healthcare Private Limited (subsidiary)
  • Heemsol Energy Solutions Private Limited (associate)

Additional Information

  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
  • Figures for previous periods regrouped/rearranged/reclassified for comparability
  • Basic and Diluted EPS calculated with total equity shares: 187,732,8995 as of June 30, 2026
  • Audit Committee reviewed and recommended financial results before board approval