Financial Highlights (₹ in Lakhs)
Total Revenue: ₹45.35 (Previous year: ₹32.04)
Other Income: ₹1.40 (Previous year: ₹4.85)
Purchase of Stock-in-Trade: ₹16,000.00 (Previous year: Nil)
Change in Inventories: (₹16,000.00) (Previous year: Nil)
Employee Benefit Expenses: ₹1.80 (Previous year: ₹2.41)
Finance Cost: ₹0.07 (Previous year: ₹0.32)
Depreciation and Amortization: ₹7.05 (Previous year: Nil)
Other Expenses: ₹19.29 (Previous year: ₹22.84)
Profit Before Exceptional Items and Tax: ₹17.15 (Previous year: ₹6.48)
Exceptional Items (Loan & Advance Written Off): ₹18.77 (Previous year: Nil)
Profit/(Loss) Before Tax: (₹1.63) (Previous year: ₹6.48)
Total Tax Expenses: ₹1.78 (Previous year: Nil)
Net Profit/(Loss) for the Year: (₹3.40) (Previous year: ₹6.48)
Key Financial Position (as at March 31, 2026)
Property, Plant and Equipment: ₹71.72 lakhs
Investments: ₹51,405.00 lakhs
Loans (Unsecured): ₹1,83,309.74 lakhs
Deferred Tax Assets: ₹0.21 lakhs
Inventories (Stock-in-Trade): ₹16,000.00 lakhs
Cash and Cash Equivalents: ₹3.05 lakhs
Bank Balances: ₹6.20 lakhs
Total Assets: ₹2,50,817.56 lakhs
Equity Share Capital: ₹526.95 lakhs (52,69,509 equity shares of ₹10 each)
Other Equity: ₹287.89 lakhs
Total Equity: ₹814.84 lakhs
Borrowings: ₹2,50,000.00 lakhs (Unsecured)
Current Tax Liabilities: ₹1.17 lakhs
Other Current Liabilities: ₹1.55 lakhs
Dividend
No dividend recommended for the year under review.
Share Capital
Authorized Share Capital: ₹1,60,000.00 lakhs (1,60,00,000 equity shares of ₹10 each)
Paid-up Equity Share Capital: ₹526.95 lakhs (52,69,509 equity shares of ₹10 each)
No change in issued, subscribed, and paid-up equity share capital during the year.
Board of Directors and Key Managerial Personnel
Managing Director: Ms. Geeta Sethi (DIN: 10317304, appointed April 15, 2024)
Non-Executive Director: Mr. Dharmendra Gupta (DIN: 07543296, appointed August 23, 2024)
Independent Directors: Ms. Namrata Sharma (DIN: 10204473, appointed June 1, 2024), Ms. Apra Sharma (DIN: 10149103, appointed November 18, 2024)
Company Secretary & Compliance Officer: Ms. Anshika Jain (Membership No.: A36592, appointed June 1, 2024)
CFO: Mr. Ajay Kumar (PAN: GOLPK7531D, appointed July 26, 2024)
Changes in Board During the Year
- Mr. Suresh Rai (DIN: 08120637) resigned as Executive Director effective July 28, 2025
- Mr. Narender (DIN: 10413009) resigned as Independent Director effective January 10, 2026
Board Meetings and Attendance
Six Board meetings held during FY25-26 on: May 13, 2025; May 30, 2025; July 28, 2025; August 12, 2025; November 8, 2025; February 2, 2026.
Board Committees
Audit Committee: Ms. Namrata Sharma (Chairperson), Ms. Geeta Sethi (Member), Ms. Apra Sharma (Member) - 6 meetings held
Nomination & Remuneration Committee: Ms. Namrata Sharma (Chairperson), Mr. Dharmendra Gupta (Member), Ms. Apra Sharma (Member) - 1 meeting held
Stakeholders Relationship Committee: Ms. Namrata Sharma (Chairperson), Ms. Geeta Sethi (Member), Ms. Apra Sharma (Member) - 1 meeting held
Auditors
Statutory Auditors: M/S V R S K & ASSOCIATES (FRN: 011199N) appointed on May 30, 2025, replacing M/S N K BHAT & ASSOCIATES who resigned on May 21, 2025
Secretarial Auditor: ACS Parul Agrawal (Practicing Company Secretary)
Internal Auditor: Mr. Sudish Kumar Verma
Auditor Qualifications and Key Audit Matters
Key Audit Matters Identified:
1. Loan borrowed - Company borrowed inter-corporate deposits (not a CIC company)
2. Loan advanced - Company advanced inter-corporate deposits of ₹1833.09 crore balance
3. Fair Valuation of Investments in Unquoted Instruments
4. Non-provision of interest on loans of ₹1,825 crore pending conversion to equity
Auditor's Opinion: The financial statements may not give a true and fair view due to non-provision of interest on loans. The company should have prepared financial statements in compliance with IND-AS.
Secretarial Audit Observations
1. Ms. Apra Sharma held committee memberships/chairpersonships exceeding SEBI LODR Regulation 26(1) limits
2. Registration/Validity Certificate and Online Proficiency Test Clearing Certificate for Independent Directors not available for verification
3. Forms MGT-14, SH-7 and INC-33 for authorized share capital increase (approved in August 2025 AGM) still due for filing with ROC
Related Party Transactions
No material related party transactions during the year. Form AOC-2 reports nil transactions.
AGM Details
38th Annual General Meeting: September 30, 2026 at 3:00 PM through Video Conferencing/Other Audio-Visual Means
Business to be Transacted:
1. Adoption of audited financial statements for FY25-26
2. Re-appointment of Mr. Dharmendra Gupta as director retiring by rotation
3. Appointment of M/s Parul Agrawal & Associates as Secretarial Auditor for four years (FY26-27 to FY29-30)
Register of Members Closure: September 24, 2026 to September 30, 2026 (both days inclusive)
Remote E-voting Period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
Operational Status
The company ceased aluminum manufacturing operations in July 2013. Currently engaged in trading of scrap material of ferrous and non-ferrous metals, and investment activities.
Compliance Status
- No deposits accepted from public
- No subsidiary, joint venture or associate companies
- No material orders passed by regulators/courts
- No corporate social responsibility activities (not applicable)
- Sexual harassment committee not constituted (no women employees)
Risk Factors
1. Company not registered under RBI Act Section 45-IA though it borrows and extends loans
2. Significant loans outstanding (₹1,83,309.74 lakhs) with interest overdue of ₹0.19 lakhs
3. Negative net worth position
4. Going concern uncertainty mentioned in auditor's report
Other Significant Information
- Company listed on BSE Limited
- Registrar & Share Transfer Agent: Beetal Financial & Computer Services (P) Ltd.
- Bankers: HDFC Bank Ltd., Karol Bagh, New Delhi
#Tags: #GolkondaAluminium #AnnualReport #SEBIDisclosure #RegulatoryCompliance #FinancialResults #BSEListing #CorporateGovernance