Financial Results (Q1 FY27 ended June 30, 2026)

Income:

  • Total Income: ₹9.92 lakh (comprising solely of Other Income; Revenue from Operations was ₹0.00)

Expenses:

  • Employee Benefits Expense: ₹3.84 lakh
  • Depreciation & Amortisation Expense: ₹0.07 lakh
  • Legal and Professional Fees: ₹0.86 lakh
  • Listing and Custodian Fees: ₹8.87 lakh
  • Other Expenses: ₹4.31 lakh
  • Total Expenses: ₹17.95 lakh

Profit/(Loss):

  • Loss before tax and exceptional items: ₹(8.03) lakh
  • Exceptional Items: ₹0.00
  • Tax Expense: ₹0.00 (Current, prior year, and Deferred Tax all nil)
  • Net Loss for the quarter (from continuing operations): ₹(8.03) lakh
  • Loss from discontinued operations: ₹0.00
  • Total Comprehensive Income for the period: ₹(4.36) lakh (comprising the net loss and Other Comprehensive Income of ₹3.67 lakh)

Per Share Data (Face Value ₹10 each):

  • Basic & Diluted Earnings Per Share (EPS) from continuing operations: ₹(0.03)

Comparative Figures:

  • Previous Quarter (Q4 FY26 ended Mar 31, 2026): Net Profit of ₹5.67 lakh
  • Corresponding Quarter Previous Year (Q1 FY26 ended Jun 30, 2025): Net Loss of ₹(5.86) lakh
  • Full Year FY26 ended Mar 31, 2026: Net Profit of ₹4.71 lakh

Key Notes to Accounts

1. Non-Going Concern Assumption: The company incurred a loss of ₹8.03 lakh during the quarter. As of June 30, 2026, accumulated losses have exceeded its net worth, and total liabilities exceed total assets. The company states it has no business plan and does not intend to have any business activity in the near future. Consequently, the financial statements have been prepared on a non-going concern basis, and financial assets are stated at realizable value or cost, whichever is lower.

2. Historical Scheme of Arrangement: The Hon'ble High Court of Gujarat sanctioned a scheme of compromise and arrangement between the company and a consortium of 16 banks on July 27, 2004, under Section 391 of the Companies Act, 1956. Payment was made to banks in FY 2004-05 per the court's order, but the final Deed of Assignment of charged assets in favour of the banks is yet to be executed.

3. Deferred Tax Assets: The company has unabsorbed depreciation and carry-forward losses under the Income Tax Act, 1961. Due to a lack of certainty regarding sufficient future taxable income, deferred tax assets on these items have not been recognized.

4. Segmental Reporting: The company has no operations and thus no reportable segments as per Ind AS 108.

5. Capital Structure:

  • Paid-up Equity Share Capital: ₹2712.58 lakh (remained unchanged from previous periods)
  • Reserves (excluding revaluation reserves): Negative ₹3119.51 lakh (as of Mar 31, 2026)

6. Subsidiaries/Associates: The company had no subsidiary, associate, or joint venture companies as of June 30, 2026.