Financial Results Approval

The Board approved the Unaudited Financial Results of the Company for the Quarter and Half year ended 30th September, 2026. The financial results show:

Income Statement Highlights (₹ in Lakhs):

  • Quarter Ended September 30, 2026: Zero revenue from operations, net loss of ₹2.81 lakh
  • Half Year Ended September 30, 2026: Zero revenue from operations, net loss of ₹6.11 lakh
  • Preceding Quarter (June 30, 2026): Net loss of ₹3.29 lakh
  • Corresponding Quarter Previous Year (September 30, 2025): Net loss of ₹3.99 lakh
  • Full Year Previous Year (March 31, 2026): Net loss of ₹12.80 lakh

Key Financial Metrics:

  • Employee benefits expense: ₹7.35 lakh (Q2 FY27), ₹15.10 lakh (H1 FY27)
  • Other expenses: ₹2.00 lakh (Q2 FY27), ₹10.67 lakh (H1 FY27)
  • Exceptional items: ₹6.54 lakh (Q2 FY27), ₹19.77 lakh (H1 FY27)
  • Earnings per share: (₹0.00) basic and diluted for Q2 FY27
  • Equity share capital: ₹9,894.85 lakh (unchanged across all periods)

Balance Sheet Position (as of September 30, 2026):

  • Total assets: ₹803.85 lakh
  • Trade receivables: ₹798.78 lakh
  • Cash and cash equivalents: ₹2.65 lakh
  • Other current assets: ₹2.37 lakh
  • Equity: ₹9,894.85 lakh share capital with negative other equity of (₹9,099.79) lakh
  • Current liabilities: ₹8.79 lakh

Board Composition Changes

Appointment: Mr. Devesh Bhargava (DIN: 02001318) appointed as Non-Executive Independent Director for five years effective October 29, 2026, until October 28, 2031. The appointment is subject to shareholder approval, and he will serve as Additional Director until regularization. Mr. Bhargava is not debarred from holding director office by SEBI or any authority.

Resignation: Mr. Thamattoor Prabhakaran Nair (DIN: 03608795) resigned as Independent Director effective close of business hours on October 30, 2026, due to personal reasons and professional commitments.

Corporate Actions Approved

The Board approved:

  • Draft Notice of Postal Ballot to seek shareholder approval for certain special businesses
  • Appointment of M/s Soniya Gupta & Associates as scrutinizer for the postal ballot
  • Appointment of NSDL as electronic securities depository for e-voting process

Meeting Details

The Board Meeting commenced at 02:00 PM and concluded at 02:50 PM (IST) on October 29, 2026.

Auditor Review

DR & Associates Chartered Accountants (FRN: 018213N) issued a limited review report stating nothing came to their attention causing belief that the financial results contain material misstatement. The review was conducted in accordance with SRE 2410 issued by ICAI.

Financial Impact Assessment

The company continues to report zero revenue operations with consistent net losses across reporting periods. The director changes represent governance updates without immediate financial impact quantification.