Financial Results - Standalone (Rupees in lakhs)

Year Ended March 31, 2026:

  • Revenue from Operations: ₹1,142.79 (FY25: ₹1,803.60)
  • Other Income: ₹130.19 (FY25: ₹28.85)
  • Total Revenue: ₹1,272.98 (FY25: ₹1,832.46)
  • Total Expenses: ₹1,320.56 (FY25: ₹1,806.52)
  • Loss Before Tax: ₹(47.59) (FY25: Profit ₹25.93)
  • Tax Expense: ₹(11.62) (deferred tax) (FY25: ₹12.74)
  • Net Loss: ₹(35.97) (FY25: Net Profit ₹13.19)
  • EPS: ₹(1.71) (FY25: ₹0.63)

Half Year Ended March 31, 2026:

  • Revenue from Operations: ₹1,074.80
  • Other Income: ₹115.59
  • Total Revenue: ₹1,190.39
  • Total Expenses: ₹1,213.43
  • Loss Before Tax: ₹(23.04)
  • Net Loss: ₹(11.09)
  • EPS: ₹(0.53)

Balance Sheet Position (Standalone as at March 31, 2026)

  • Share Capital: ₹210.00 lakh (unchanged)
  • Reserves and Surplus: ₹182.93 lakh (FY25: ₹218.90 lakh)
  • Long-Term Borrowings: ₹111.25 lakh (FY25: ₹161.23 lakh)
  • Trade Payables: ₹1,214.07 lakh (FY25: ₹646.65 lakh)
  • Total Equity & Liabilities: ₹1,732.31 lakh (FY25: ₹1,300.64 lakh)
  • Tangible Assets: ₹37.45 lakh (FY25: ₹46.40 lakh)
  • Trade Receivables: ₹1,267.84 lakh
  • Inventories: ₹93.15 lakh
  • Cash and Cash Equivalents: ₹16.39 lakh (FY25: ₹21.76 lakh)

Cash Flow Statement (Standalone)

  • Net Cash from Operating Activities: ₹58.79 lakh
  • Net Cash from Investing Activities: ₹(1.42) lakh
  • Net Cash from Financing Activities: ₹(62.75) lakh
  • Net decrease in Cash: ₹(5.38) lakh

Key Audit Matters

Auditors identified two key audit matters:

1. Write-off of Trade Receivables under Litigation: Company wrote off ₹71.55 lakh comprising:

  • ₹47.79 lakh trade receivables under litigation (repeated postponement of hearings, uncertainty regarding recovery)
  • Remaining balances in loans and advances identified as not recoverable
  • Sundry balances written back ₹1.45 lakh where company is not liable to pay

2. Write-off of Expired Inventory: Company wrote off ₹57.73 lakh inventory due to expiry, identified through management's review and internal processes.

Consolidated Financial Results

Year Ended March 31, 2026:

  • Revenue from Operations: ₹2,084.06
  • Other Income: ₹156.39
  • Total Revenue: ₹2,240.44
  • Total Expenses: ₹2,314.16
  • Loss Before Tax: ₹(73.71)
  • Tax Expense: ₹(17.97)
  • Net Loss: ₹(55.87)
  • EPS: ₹(2.66)

Subsidiary Update - GST Demand

Company's wholly owned subsidiary Upender Metaplast Private Limited received order in Form DRC-07 dated December 31, 2025 under GST Act for tax period April 2018 to March 2019, raising demand of:

  • ₹21.19 lakh towards CGST
  • ₹21.19 lakh towards SGST
  • Total demand: ₹42.38 lakh
  • Equivalent penalty amount: ₹42.38 lakh
  • Total potential liability: ₹84.76 lakh

Subsidiary has preferred appeal before Appellate Authority and deposited ₹4.24 lakh (10% of disputed tax amount) through utilization of balance available in IGST Electronic Credit Ledger.

Board Meeting Details

  • Meeting held: May 23, 2026
  • Time: 5:30 PM to 6:30 PM
  • Location: Registered office of the company
  • Approved: Audited Standalone and Consolidated Financial Results for half year and year ended March 31, 2026