Summary of Key Information:
Reporting Period: Quarter and Year ended 31st March, 2026
Nature of Filing / Announcement: Outcome of Board Meeting and Audited Financial Results
Audit Opinion:
Qualified Opinion - Statutory Auditors M/s. Bhuta Shah & Co. LLP issued audit reports with modified opinion on both standalone and consolidated financial statements.
Auditor’s Comment:
Balances of trade payables, trade receivables, advances received and advances given (including capital advances) and GST balances are subject to confirmation, reconciliation and consequential adjustment, if any. The auditors are unable to comment upon the resultant impact on assets, liabilities, profit and other equity for the quarter and year ended 31st March, 2026.
Key Financial Highlights [Amount in Lakhs of INR]:
Standalone Results:
Revenue from Operations: Not separately specified in standalone results
Total Income: ₹6,528.27 (Year ended 31-Mar-26)
Net Profit: ₹2,904.33 (Year ended 31-Mar-26)
EPS: ₹5.80 (Year ended 31-Mar-26)
Other Equity: ₹35,555.29 (31-Mar-26)
Cash and Cash Equivalents: ₹2.36 (31-Mar-26)
Debt: Not separately specified
Consolidated Results:
Revenue from Operations: ₹14,203.07 (Year ended 31-Mar-26)
Total Income: ₹20,996.89 (Year ended 31-Mar-26)
Net Profit: ₹7,827.35 (Year ended 31-Mar-26)
EPS: ₹15.64 (Year ended 31-Mar-26)
Other Equity: ₹39,621.76 (31-Mar-26)
Cash and Cash Equivalents: ₹10,559.97 (31-Mar-26)
Debt: Short-term borrowings ₹528.29, Long-term borrowings ₹6,389.32 (31-Mar-26)
Segment-wise Performance:
The company operates in two segments:
Textiles Segment:
- Segment Revenue: ₹8,637.27 (Year ended 31-Mar-26)
- Segment Result: Loss of ₹(4,572.89) (Year ended 31-Mar-26)
- Segment Assets: ₹50,956.57 (31-Mar-26)
- Segment Liabilities: ₹25,925.32 (31-Mar-26)
Infrastructure Projects Segment:
- Segment Revenue: ₹5,565.80 (Year ended 31-Mar-26)
- Segment Result: Profit of ₹2,453.03 (Year ended 31-Mar-26)
- Segment Assets: ₹47,107.96 (31-Mar-26)
- Segment Liabilities: ₹16,620.44 (31-Mar-26)
Corporate Actions:
No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities were announced.
Auditor Appointments:
- Cost Auditor: M/s. Pradip Mohanlal Damania, Cost & Management Accountant (FRN: 101607) appointed for FY 2026-27
- Secretarial Auditor: M/s. Himesh Pandya & Associates, Practicing Company Secretary Firm appointed from FY 2025-2026 till FY 2029-2030
- Internal Auditor: M/S. JVJ & CO. LLP, Chartered Accountants (Firm Registration No. 141427W) appointed for FY 2026-2027
Other Disclosures:
- The company was acquired under the CIRP process and is still experiencing deficiency in manpower and limited access to past records
- Management is unable to quantify the impact of audit qualifications due to their qualitative nature and the CIRP background
- The company has significant brought forward business losses and unabsorbed depreciation available for adjustment against taxable income
Other Significant Information:
Entities in Consolidation:
- Subsidiary: Flowline Developers Private Limited
- Joint Venture: Vasishta Infrarealty LLP (unaudited financial statements included, reflecting total net loss of ₹5 lakhs)
Tax Treatment:
- No current tax expense/provision recognized due to set-off of brought forward losses and unabsorbed depreciation
- Income tax compliances/return filing will be done together with another Group Company due to proposed amalgamation
Cash Flow Highlights:
- Net cash generated from operating activities: ₹5,200.10 lakhs (Consolidated, Year ended 31-Mar-26)
- Net cash used in investing activities: ₹(7,301.59) lakhs (Consolidated, Year ended 31-Mar-26)
- Net cash used in financing activities: ₹(3,242.93) lakhs (Consolidated, Year ended 31-Mar-26)