Board Meeting Details and Key Approvals

The Board Meeting commenced at 02:30 PM and concluded at 03:45 PM on August 11, 2026. The following items were approved:

  • Un-Audited Standalone Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report of the Statutory Auditor.
  • Listing Compliances for the quarter ended June 30, 2026.
  • To issue Notice and call Shareholders for the Annual General Meeting (AGM) for FY 2025-26 under Section 96 of the Companies Act, 2013.
  • Appointment of M/s. AAS & Associates, Company Secretaries as Scrutinizers for the upcoming AGM under Section 108 of the Companies Act, 2013.
  • Adoption of the Secretarial Auditors' Report for FY 2025-2026.
  • Alteration of the Main Object Clause to align with the company's current and future business plans.
  • Adoption of the Directors' Report for FY 2025-2026.

Financial Results for Quarter Ended June 30, 2026 (Unaudited)

The key financial figures are presented in Indian Rupees (Millions), except per share data.

Income Statement:

  • Total Income from Operations: ₹1.36 Million
  • Revenue from Operations: ₹2.53 Million
  • Other Income: (₹1.17) Million (Includes loss of ₹1.25 million on sale of investment property)
  • Total Expenses: ₹4.20 Million
  • Purchase of Stock-in-Trade: ₹2.41 Million
  • Employee Benefit Expenses: ₹0.89 Million
  • Finance Costs: ₹0.02 Million
  • Depreciation & Amortization: ₹0.03 Million
  • Other Expenses: ₹0.85 Million
  • Net Loss before tax (and after exceptional/extraordinary items): (₹2.84) Million
  • Net Loss after tax: (₹2.84) Million
  • Total Comprehensive Income: (₹2.84) Million

Balance Sheet & Capital:

  • Paid-Up Equity Share Capital (FV ₹10/- each): ₹81.20 Million
  • Other Equity: Not specified for current period; was (₹33.69) Million as of March 31, 2026

Per Share Data:

  • Basic Earnings Per Share (EPS): (₹0.35)
  • Diluted Earnings Per Share (EPS): (₹0.35)

Comparative Financials

Quarterly Comparison (Unaudited):

  • Total Income: ₹1.36M (Jun-2026) vs ₹0.01M (Jun-2025)
  • Net Loss: (₹2.84M) (Jun-2026) vs (₹0.91M) (Jun-2025)

Annual Reference (Audited):

  • Total Income FY2026: ₹13.83M (Mar-2026)
  • Net Loss FY2026: (₹6.15M) (Mar-2026)

Notes to Financial Results

1. Segment Information: The entire operation relates to a single segment: supply of construction and real estate-related materials.

2. Trade Receivables: Trade receivables amounting to ₹13.39 million were outstanding for more than 12 months as of the balance sheet date. Balance confirmations were unavailable. Management is following up for recovery.

3. NCLT Settlement (Previous Year): Receivables aggregating ₹82.70 million from three parties under NCLT proceedings were settled via an agreement dated November 17, 2025. The settlement included ₹40.00 million in demand drafts and four residential flats valued at ₹39.74 million (recognized as Investment Property). In the current quarter, two flats were sold for ₹19.87 million, realizing a loss of ₹1.25 million, booked under "Other Income".

4. Trade Payables: Trade payables of ₹38.83 million remained outstanding for a substantial period. Balance confirmations were unavailable. Management is engaged in reconciliation and plans phased settlement. Furthermore, five creditor parties have filed recovery suits against the company. Court notices have been received for payables of ₹29.90 million as per books.

5. Supplier Advances: The auditor's report notes unexplained advances to suppliers amounting to ₹28.65 million given prior to December 2022. No supporting documents or purpose for these advances were provided to the auditors.

6. Regulatory Compliance: The results are filed under Regulation 33 of SEBI LODR Regulations. Full results are available on BSE website (www.bseindia.com) and the company's website (www.fraserindia.co.in).

Auditor's Limited Review Report (AMS & CO LLP)

The Statutory Auditors, AMS & CO LLP (Firm Reg. No. 130878W/W101034), issued a limited review report with a qualified conclusion, highlighting:

  • Trade Receivables: Inability to verify recoverability of ₹13.39 million due to lack of balance confirmations.
  • Trade Payables: Inability to ascertain the impact of unconfirmed payables of ₹38.83 million and ongoing recovery suits for ₹29.90 million.
  • Supplier Advances: Inability to ascertain the impact of unexplained advances to suppliers of ₹28.65 million due to lack of documentation and confirmations.

Emphasis of Matter: The report emphasized the details of the NCLT settlement and subsequent sale of investment property flats.

Other Matters:

  • The company's shares remain suspended from trading on the Calcutta Stock Exchange (CSE).
  • The figures for the quarter ended March 31, 2026, are derived as balancing figures between the audited annual results and the published year-to-date figures up to the third quarter of that year.

Corporate Actions and Forward Plans

  • The company will hold its Annual General Meeting (AGM) for FY 2025-26.
  • M/s. AAS & Associates appointed as scrutinizers for the AGM.