Financial Performance (Quarter ended September 30, 2024)
Revenue from Operations: ₹0.00 lakh
Total Expenses: ₹0.51 lakh, consisting of:
- Employee benefits expense: ₹0.36 lakh
- Other expenses: ₹0.15 lakh
Net Loss before tax: ₹(0.51) lakh
Tax Expense: ₹0.00
Net Loss for the period: ₹(0.51) lakh
Total Comprehensive Income: ₹(0.51) lakh
Financial Position (as at September 30, 2024)
Total Assets: ₹6.22 lakh
- Non-Current Assets: ₹5.75 lakh (Long term loans and advances)
- Current Assets: ₹0.47 lakh (Cash and Cash equivalents)
Equity and Liabilities: ₹6.22 lakh
- Shareholders' Funds: ₹(202.63) lakh (Negative)
- Share Capital: ₹461.32 lakh
- Reserves and Surplus: ₹(663.95) lakh (Negative)
- Current Liabilities: ₹208.85 lakh
- Short term borrowings: ₹197.50 lakh
- Trade payables: ₹3.98 lakh
- Other short term provisions: ₹1.37 lakh
Comparative Figures
Quarter ended September 30, 2023:
- Revenue from Operations: ₹0.00 lakh
- Total Expenses: ₹0.62 lakh
- Net Loss: ₹(0.62) lakh
Half Year ended September 30, 2024:
- Revenue from Operations: ₹0.00 lakh
- Total Expenses: ₹1.45 lakh
- Net Loss: ₹(1.45) lakh
Half Year ended September 30, 2023:
- Revenue from Operations: ₹0.00 lakh
- Total Expenses: ₹2.39 lakh
- Net Loss: ₹(2.39) lakh
Capital Structure
Paid-up equity share capital: ₹461.32 lakh (Face Value of ₹10/- per share)
Number of shares: 46,132,000
Earnings Per Share (EPS):
- Basic: ₹(0.00)
- Diluted: ₹(0.00)
Regulatory Compliance and Review
The financial results have been prepared in compliance with Indian Accounting Standards (Ind-AS). The Audit Committee reviewed the results on November 14, 2024, prior to board approval. The statutory auditors, D.C. Shukla & Co. (FRN: 003335C), conducted a limited review of the financial results and issued an unmodified review report dated November 14, 2024.
Notes and Qualifications
1. The company has adopted Ind-AS for the financial year commencing from April 1, 2017.
2. Previous period/year figures have been regrouped/reclassified to make them comparable with current period/year.
3. The auditors noted that they were not engaged to review the comparative figures for the quarter ended September 30, 2024, and these figures were furnished by management.
4. The statement includes a reconciliation table for Net Profit & Equity between previous Indian GAAP and Ind-AS, but all values in the reconciliation table are blank in the provided document.
Financial Impact Assessment
The disclosure shows continued operational challenges with no revenue generation and minimal expense base. The company has negative net worth of ₹202.63 lakh and significant short-term borrowings of ₹197.50 lakh against minimal cash balance of ₹0.47 lakh. Financial impact of the ongoing operations is quantified as a loss of ₹0.51 lakh for the quarter.