Key Quantitative Figures

Financial Performance (Consolidated, ₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Revenue from Operations: 704.62
  • Other Income: 0.35
  • Total Income: 704.97
  • Total Expenses: 849.33
  • Profit/(Loss) Before Tax: (144.36)
  • Tax Expense: (161.44)
  • Current Tax: 0.00
  • Deferred Tax: 24.88
  • Short/Excess Provision for Prior Period: (186.32)
  • Profit After Tax: 17.08
  • Earnings Per Share (Basic & Diluted): ₹0.11

Half Year Ended September 30, 2026:

  • Revenue from Operations: 1,625.97
  • Other Income: 0.35
  • Total Income: 1,626.32
  • Total Expenses: 1,692.66
  • Profit/(Loss) Before Tax: (66.34)
  • Tax Expense: (138.30)
  • Current Tax: 24.65
  • Deferred Tax: 23.37
  • Short/Excess Provision for Prior Period: (186.32)
  • Profit After Tax: 71.96
  • Earnings Per Share (Basic & Diluted): ₹0.48

Comparative Figures (Quarter Ended September 30, 2025)

  • Revenue from Operations: 7,670.35
  • Profit Before Tax: 1,188.71
  • Profit After Tax: 837.26
  • EPS: ₹5.63

Balance Sheet Position (Consolidated, as of September 30, 2026, ₹ in Lakhs)

Assets:

  • Total Financial Assets: 8,369.07
  • Cash & Cash Equivalents: 327.08
  • Bank Balances (other): 1,368.78
  • Trade Receivables: 119.11
  • Loans: 6,554.10
  • Total Non-Financial Assets: 2,637.30
  • Deferred Tax Assets (Net): (85.41)
  • Property, Plant & Equipment: 574.17
  • Intangible Assets: 481.23
  • Other Non-Financial Assets: 1,667.31
  • Total Assets: 11,006.37

Liabilities & Equity:

  • Total Financial Liabilities: 4,964.79
  • Trade Payables (other than Micro/Small Enterprises): 3,377.08
  • Other Payables (other than Micro/Small Enterprises): 926.05
  • Borrowings: 661.66
  • Non-Financial Liabilities: 1,642.08
  • Provisions: 39.50
  • Other Non-Financial Liabilities: 1,602.58
  • Equity: 4,399.50
  • Equity Share Capital: 1,487.00
  • Other Equity: 2,912.50
  • Total Liabilities and Equity: 11,006.37

Cash Flow (Consolidated, H1 FY27, ₹ in Lakhs)

  • Net Cash Used in Operating Activities: (2,623.71)
  • Net Cash Used in Investing Activities: (145.42)
  • Net Cash from Financing Activities: 514.95
  • Net Decrease in Cash & Equivalents: (2,254.18)
  • Cash & Equivalents at Period End: 327.09
  • Cash on Hand: 11.75
  • Balance with Bank: 310.33

Dates of Action

  • Board Meeting Date: October 21, 2026 (4:00 PM to 8:00 PM)
  • Result Period: Quarter and Half Year ended September 30, 2026
  • Trading Window Re-opening: October 26, 2026
  • Auditor's Report Date: October 21, 2026

Parties Involved

  • Subsidiary: Gullakkart Private Limited (Wholly Owned)
  • Statutory Auditors: H. Rajen & Co.
  • Regulatory Authorities: SEBI, Investigating Authorities (unspecified), Hon'ble Supreme Court of India
  • Bank: ICICI Bank (account under lien)

Audit Qualifications & Contingent Matters

The statutory auditors issued a qualified conclusion on both standalone and consolidated results citing three material concerns:

1. Suspicious Transactions & Bank Lien: The company detected suspicious transactions by a sub-merchant originally aggregating ₹10,500.00 lakhs, subsequently reduced to ₹7,681.09 lakhs following voluntary settlements. The company's bank account with ICICI Bank remains under lien to the extent of ₹7,681.09 lakhs imposed by investigating authorities. The matter is sub judice before the Hon'ble Supreme Court and other courts. No provision has been recognized as the eventual financial outflow remains unascertainable and contingent upon judicial outcomes.

2. Unconfirmed Balances: Balances relating to trade receivables, trade payables, loans, borrowings, and other non-financial assets remain subject to confirmation and reconciliation. While some confirmations were obtained during the quarter, majority balances remain unconfirmed, preventing auditors from commenting on potential adjustments.

3. Unpaid Statutory Dues: Tax Deducted at Source (TDS) and GST amounting to ₹129.00 lakhs remain outstanding as of September 30, 2026, creating a significant financial obligation.

Capital Structure Impact

  • Paid-up Equity Share Capital: Remained unchanged at 1,487.00 lakhs (Face value ₹10 per share)
  • Investment Commitment: Board approved investment of up to ₹500.00 lakhs in equity share capital of wholly owned subsidiary Gullakkart Private Limited
  • Amount Remitted: ₹5.00 lakhs remitted as share application money (allotment pending)
  • Balance Commitment: ₹495.00 lakhs to be remitted in tranches

Subsidiary Information

  • Gullakkart Private Limited (CIN: U66190MR2026PTC475746) incorporated on April 18, 2026
  • Subsidiary has not commenced operations due to delay in receiving PAN and opening bank account
  • No capital infused beyond ₹5 lakh share application money as of reporting date

Additional Notes

  • Segment reporting not applicable as company operates under single Chief Operating Decision Maker
  • Figures for previous periods regrouped/reclassified for comparability
  • The figures for the half year ended September 30, 2026 are balancing figures between audited figures for full previous financial year and published year-to-date figures