Glaam Up Jwel H1 Net Loss ₹303.90 Lakhs

Income Statement (₹ in lakhs):

Revenue from operations: ₹203.61 (H1 FY27) vs ₹785.85 (H1 FY26) vs ₹1,239.27 (FY26)
Total income: ₹203.61 (H1 FY27) vs ₹785.85 (H1 FY26)
Profit/(loss) before exceptional item & tax: ₹0.46 (H1 FY27) vs ₹5.35 (H1 FY26)
Exceptional items: ₹304.44 (stock write-off in H1 FY27)
Net Profit/(Loss) after tax: ₹(303.90) loss (H1 FY27) vs ₹3.86 profit (H1 FY26)
Earnings per share (Basic & Diluted): ₹(3.03) (H1 FY27) vs ₹0.04 (H1 FY26)

Balance Sheet Position (₹ in lakhs):

Paid-up Equity Share Capital: ₹1,001.80 (unchanged)
Reserves and surplus: ₹(306.58) (30.09.2026) vs ₹(2.68) (31.03.2026)
Total Equity: ₹695.22 (30.09.2026) vs ₹999.12 (31.03.2026)
Total liabilities: ₹2,252.14 (30.09.2026) vs ₹2,334.05 (31.03.2026)
Cash and bank balances: ₹3.58 (30.09.2026) vs ₹18.57 (31.03.2026)

Axis Bank Default and DRT Proceedings:

The Company had availed a credit facility of ₹2.00 crore from Axis Bank Limited and defaulted in payment
Aggregate outstanding: ₹2.06 crore as of reporting date, outstanding since 31 December 2019
Axis Bank applied to Debt Recovery Tribunal-III, Delhi for recovery of outstanding dues
DRT order dated 21 December 2020 restrained Company from selling, transferring or creating third party interest in mortgaged property (Commercial Shop owned by Mrs. Puspha Gupta, Director)
Matter pending before DRT with next hearing date not fixed
No provision made for interest payable on outstanding amount

Stock Write-off as Exceptional Item:

Company's commercial premises at 5504/15, Basti Harpool Singh, Sadar Thana Road, Delhi - 110006 containing stock worth ₹304.44 lacs was sealed by Axis Bank
The premises along with stock were sold by the Bank
Entire stock written off in books and charged to Statement of Profit and Loss as exceptional item

GST Penalty Contingency:

Order dated 26 December 2025 from Joint Commissioner, Adjudication, CGST Delhi North held Company as non-genuine taxable entity
Alleged fraudulent availment of Input Tax Credit (ITC) from suppliers and passing on to customers
Penalty of ₹2,223.54 lacs levied under CGST Act, 2017
Management considers penalty not sustainable and intends to pursue legal remedies
No provision recognized in books; treated as contingent liability

The Company has a single reportable segment as per Accounting Standard 17
Financial results prepared in accordance with Accounting Standards prescribed under Section 133 of Companies Act, 2013
Government's New Labour Codes effective from 21 November 2025, with financial impact assessment underway
Audit Committee reviewed results before Board approval
Statutory Auditors (CA Kapish Jain) provided review report with qualifications regarding DRT matter and GST penalty