Key Financial Figures

Quarterly Performance (₹ in lakhs):

  • Quarter Ended September 30, 2026: Net Loss of (5.72)
  • Quarter Ended June 30, 2026: Net Profit of 14.85
  • Quarter Ended September 30, 2025: Net Loss of (2.22)

Half-Yearly Performance (₹ in lakhs):

  • Half Year Ended September 30, 2026: Net Profit of 9.12
  • Half Year Ended September 30, 2025: Net Loss of (2.72)
  • Full Year Ended March 31, 2026: Net Profit of 1.50

Revenue:

  • Q2 FY27 Revenue from Operations: ₹20.21 lakhs
  • Half Year FY27 Total Revenue: ₹40.41 lakhs

Expenses:

  • Employee benefits: ₹0.40 lakhs (Q2 FY27)
  • Finance Cost: ₹0.57 lakhs (Q2 FY27)
  • Legal and Professional Fees: ₹4.86 lakhs (Q2 FY27)
  • Other Expenses: ₹20.10 lakhs (Q2 FY27)
  • Total Expenses: ₹25.93 lakhs (Q2 FY27)

Earnings Per Share (₹):

  • Basic EPS from Continuing Operations: (0.13) for Q2 FY27
  • Diluted EPS from Continuing Operations: (0.13) for Q2 FY27

Balance Sheet Position as at 30th September 2026 (₹ in lakhs):

  • Total Assets: 407.85
  • Non-Current Assets: 360.50 (including Loans: 295.07, Investments: 65.00)
  • Current Assets: 47.35 (including Cash: 1.40, Trade Receivables: 12.24, Other Current Assets: 33.71)
  • Equity: 319.82 (Share Capital: 441.92, Other Equity: (122.10))
  • Liabilities: 88.03 (Non-current Borrowings: 70.50, Current Liabilities: 17.53)

Auditor's Qualifications (Emphasis of Matter)

The independent auditor, S K Bhavsar & Co., issued a review report with several significant qualifications:

1. Loans and Advances: The company has provided loans and advances of ₹295.07 lakhs with no balance confirmation received from parties. The auditor is unable to form an opinion on recoverability.

2. NPA Norms Non-Compliance: Management has recorded interest income on these loans despite not following RBI NPA norms for provisioning. The company has not been following NPA norms for a long period.

3. Income Tax Demand: The company has an outstanding income tax demand of ₹529.75 lakhs. The auditor could not obtain documentary evidence about the forum where proceedings are pending or verify the duration and quantum of the amount payable.

4. Investments: The auditor was unable to verify the correctness and existence of investments worth ₹65.00 lakhs as detailed records and physical verification statements were not presented. Reliable value and supporting documents were also not provided.

Cash Flow Statement for Six Months Ended September 30, 2026 (₹ in lakhs):

  • Net Cash from Operating Activities: (21.14)
  • Net Cash from Financing Activities: 22.29 (mainly from increased borrowing of ₹61.08)
  • Net Increase in Cash: 1.15
  • Closing Cash Balance: 1.40

Governance

  • Results reviewed by Audit Committee and approved by Board of Directors
  • Managing Director: Shreedhar Godbole (DIN: 11938167)
  • Auditor: S K Bhavsar & Co. (Firm No. 145880W)

Financial Impact

The financial impact of the auditor's qualifications regarding loans, investments, and tax demands is not quantified in the disclosure, but represents significant contingent exposures that could materially affect the company's financial position.