AGM Details

  • Meeting Date: Wednesday, September 30, 2026 at 3:00 PM IST
  • Mode: Video Conferencing (VC)/Other Audio Visual Means (OAVM)
  • Cut-off date: Wednesday, September 23, 2026
  • E-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
  • E-voting service provider: Purva Sharegistry (India) Private Limited

Financial Performance (FY 2025-26)

Income Statement Highlights (₹ in Lakhs)

  • Revenue from Operations: 20.97 (vs. 790.46 in FY25)
  • Other Income: 24.04 (vs. 315.22 in FY25)
  • Total Revenue: 45.02 (vs. 1,105.68 in FY25)
  • Employee Benefit Expenses: 49.17 (vs. 217.76 in FY25)
  • Finance Costs: 37.32 (vs. 28.54 in FY25)
  • Depreciation: 88.19 (vs. 112.64 in FY25)
  • Other Expenses: 286.48 (vs. 1,420.15 in FY25)
  • Prior Period Expenses: 441.95 (vs. 0 in FY25)
  • Loss before tax: (868.28) (vs. (4,446.66) in FY25)
  • Net Loss after tax: (868.28) (vs. (4,414.53) in FY25)
  • Basic EPS: (1.16) (vs. (8.17) in FY25)

Balance Sheet Highlights (as of March 31, 2026)

  • Equity Share Capital: ₹5,401.48 lakhs (5,40,14,774 equity shares of ₹10 each)
  • Other Equity: (₹4,456.04) lakhs
  • Total Equity: ₹945.44 lakhs
  • Inventories: ₹3,803.00 lakhs (includes discount coupon vouchers)
  • Trade Receivables: ₹100.69 lakhs
  • Cash and Cash Equivalents: ₹26.40 lakhs
  • Borrowings (Current): ₹516.55 lakhs
  • Trade Payables: ₹2,363.58 lakhs
  • Provisions (Current): ₹441.78 lakhs

Operational Highlights

  • Hospital Operations: Physical multi-specialty clinical operations suspended at flagship Mira Road facility due to lease termination notice received in September 2024
  • Business Transition: Pivoting towards non-physical healthcare delivery models through digital platforms and mobile applications
  • Employee Strength: Reduced to 7 male employees as of March 31, 2026
  • Inventory: Holding discount coupon vouchers worth ₹38.03 crores that remain unsold/unutilized due to hospital closure

Significant Events and Litigation

Legal Proceedings

  • Mahim Lease Dispute: Hon'ble High Court of Mumbai directed company to deposit ₹3,67,73,382 before Small Causes Court by September 30, 2024. Small Causes Court issued distress warrant for this amount under Order XXI Rule 43 of CPC.
  • Company Status: Appropriate legal actions being pursued through higher judicial channels

Regulatory Actions

  • SEBI Penalty (March 2024): ₹15 lakhs adjudication order paid by company
  • SEBI Penalty (June 2025): ₹35.10 lakhs joint penalty for technical non-compliances under SEBI Listing Regulations, paid under protest
  • BSE Penalty (March 2025): ₹3,36,300 for non-compliance with Regulation 17(1) regarding board composition

Cybersecurity Incident

  • Date: January 30, 2026
  • Nature: Ransomware attack affecting primary and backup electronic data
  • Response: Financial information reconstructed using available secondary sources, enhanced security measures implemented

Capital Structure Changes

Preferential Warrant Issue

  • Board Approval: May 30, 2025 for issuance of 1,86,77,500 warrants
  • Issue Price: ₹10 per warrant
  • Status: Received ₹4,66,93,750 (25% upfront payment) including ₹4,50,00,000 from Dealmoney Commodities Pvt Ltd (group company)
  • Conversion: Each warrant convertible into one equity share within 18 months upon payment of balance 75%

Previous Warrant Issue (July 2024)

  • Original Approval: 1,75,00,000 warrants at ₹11 each
  • Status: Deferred due to SEBI order restraining Noticee Nos. 1-3 from dealing in securities

Related Party Transactions

Key transactions with related parties (₹ in Lakhs):

  • Interest to Onelife Capital: 16.13 (2.87 in FY25)
  • Interest to Dealmoney Commodities: 1.98 (Nil in FY25)
  • Loans from Onelife Capital: 255.50 (127.50 in FY25)
  • Loans from Dealmoney Commodities: 23.50 (Nil in FY25)
  • Rent to Dealmoney Commodities: 3.72 (2.95 in FY25)

Board and Management Changes

Director Changes

  • Mr. Amit Tyagi: CFO resigned effective October 28, 2025
  • Mr. Rajesh Julal More: Appointed CFO effective December 26, 2025
  • Mrs. Neetu Maurya: Company Secretary resigned effective May 2, 2026
  • Mr. Ashdullah Khan: Appointed Company Secretary effective July 31, 2026

Board Composition (as of March 31, 2026)

  • Mr. Suchit Raghunath Modshing: Whole Time Director
  • Mrs. Archana Chirawawala: Non-Executive Independent Director
  • Ms. Lucy Maqbul Massey: Non-Executive Non-Independent Director
  • Mr. Dhananjay Chandrakant Parikh: Non-Executive Independent Director
  • Mr. Sanjeev Seth: Non-Executive Independent Director
  • Mr. Nitesh Shrinath Singh: Non-Executive Independent Director

Auditor Changes

  • Statutory Auditor: M/s S.M. Gupta & Co. resigned effective August 12, 2025; M/s Rafik & Associates appointed effective September 29, 2026
  • Secretarial Auditor: M/s. Ajay Kumar & Co. appointed effective September 29, 2026
  • Internal Auditor: M/s. VHUD & Associates continued

Key Ratios

  • Current Ratio: 1.18 (1.28 in FY25)
  • Debt-Equity Ratio: 0.55 (0.25 in FY25)
  • Return on Equity: -0.92 (-1.23 in FY25)
  • Trade Receivables Turnover: 0.01 (0.44 in FY25)

Other Disclosures

  • Dividend: No dividend declared for FY26
  • CSR: Not applicable for FY26
  • Going Concern: Financial statements prepared on going concern basis
  • Micro Enterprises: Dues outstanding to micro enterprises: ₹11.34 lakhs

AGM Business Items

Ordinary Business

1. Adoption of audited financial statements for FY ended March 31, 2026

2. Re-appointment of Mr. Suchit Raghunath Modshing (DIN: 10974977) as Whole Time Director