Key Quantitative Figures

  • Revenue for FY26: ₹151.15 lakh (FY25: ₹1,915.66 lakh)
  • Net Loss for FY26: ₹81.42 lakh (FY25: loss of ₹327.43 lakh)
  • Carried Forward Losses: ₹1,758.54 lakh (FY25: ₹1,676.13 lakh)
  • Paid-up Equity Share Capital: ₹141.44 lakh (post NCLT-directed reduction from ₹2,624.08 lakh)
  • Proposed QIP Size: Up to ₹1.18958 crore
  • Total Assets as of March 31, 2026: ₹2,016.33 lakh
  • Total Equity as of March 31, 2026: ₹1,853.52 lakh

Dates of Action

  • Annual Report Submission Date: August 23, 2026
  • AGM Date: September 16, 2026 at 12:15 PM
  • Record Date for AGM: September 9, 2026
  • Book Closure Dates: September 10, 2026 to September 16, 2026 (both days inclusive)
  • E-voting Period: September 13, 2026 (9:00 AM) to September 15, 2026 (5:00 PM)
  • Board Meeting Date for QIP Approval: August 21, 2026

Parties Involved

  • Stock Exchange: BSE Limited
  • Registrar & Share Transfer Agent: Purva Sharegistry (India) Pvt. Ltd.
  • Statutory Auditors: M/s. A H P N & Associates, Chartered Accountants
  • Secretarial Auditor: Ms. Kriti Daga, Practicing Company Secretary
  • Scrutinizer for E-voting: CS Kriti Daga
  • Bankers: Federal Bank
  • Key Managerial Personnel:
  • V S Amarnath (Managing Director)
  • H Raghuram Shetty (CFO)
  • Shruti Ahuja (Company Secretary & Compliance Officer)
  • Board of Directors:
  • V S Amarnath (Chairman & Managing Director)
  • Biral Nareshbhai Patel (Independent Director)
  • Shailesh Kalal (Independent Director)
  • Kupparavalli Siddappaji Shobha (Independent Director)

Capital Structure Impact

  • Share Capital Reduction: Implemented reduction from ₹26.24083 crore to ₹1.4144 crore (1:100 ratio) as per NCLT order dated October 25, 2024
  • Fresh Equity Infusion: ₹1.15 crore (11.50 lakh equity shares of ₹10 each) as per NCLT resolution plan
  • Proposed QIP: Would result in equity dilution if approved and implemented
  • Post-QIP Share Ranking: Equity shares issued through QIP will rank pari-passu with existing shares

Financial and Operational Impact

  • No Dividend Declared: Due to accumulated losses
  • Going Concern Basis: Financial statements prepared on going concern basis despite losses, supported by resolution plan implementation
  • CIRP Completion: Corporate Insolvency Resolution Process successfully implemented with change in management
  • Related Party Transactions: Received loan of ₹94.43 lakh from former Managing Director Mohit Bajaj
  • Internal Financial Controls: Considered adequate and effective by management and auditors

Forward-Looking Statements

  • QIP Utilization: Proceeds proposed for growth and expansion plans, working capital requirements, and general corporate purposes
  • Business Expansion: Plans to enter biomass, bio-energy and related products segment
  • Compliance Timeline: QIP to be allotted within 365 days from shareholder approval if sanctioned