Board Meeting Details

The Board Meeting was held on October 28, 2026, commencing at 04:15 pm and concluding at 05:00 pm. The Board approved the unaudited financial results for the quarter and half year ended September 30, 2026 along with Limited Review Report of the Statutory Auditors.

Financial Results Summary (Quarter Ended September 30, 2026)

  • Total Income: ₹10.76 lakhs (Previous corresponding quarter: ₹10.56 lakhs)
  • Revenue from Operations: ₹0.00
  • Other Income: ₹10.76 lakhs
  • Total Expenses: ₹8.22 lakhs (Previous corresponding quarter: ₹8.44 lakhs)
  • Employee Benefits Expense: ₹3.06 lakhs
  • Depreciation & Amortisation Expense: ₹0.05 lakhs
  • Legal and Professional Fees: ₹0.92 lakhs
  • Listing and Custodian Fees: ₹0.00
  • Other Expenses: ₹4.19 lakhs
  • Profit/(Loss) before tax: ₹2.54 lakhs profit (Previous corresponding quarter: ₹2.12 lakhs profit)
  • Tax Expense: ₹0.00
  • Profit/(Loss) for the period: ₹2.54 lakhs profit (Previous corresponding quarter: ₹2.12 lakhs profit)
  • Other Comprehensive Income: ₹3.89 lakhs
  • Total Comprehensive Income for the period: ₹6.43 lakhs
  • Earnings per equity share (Basic): ₹0.01 (Previous corresponding quarter: ₹0.01)
  • Earnings per equity share (Diluted): ₹0.01 (Previous corresponding quarter: ₹0.01)

Financial Results Summary (Half Year Ended September 30, 2026)

  • Total Income: ₹20.68 lakhs (Previous corresponding half year: ₹21.04 lakhs)
  • Total Expenses: ₹26.17 lakhs (Previous corresponding half year: ₹24.78 lakhs)
  • Profit/(Loss) before tax: ₹(5.49) lakhs loss (Previous corresponding half year: ₹(3.74) lakhs loss)
  • Profit/(Loss) for the period: ₹(5.49) lakhs loss (Previous corresponding half year: ₹(3.74) lakhs loss)
  • Other Comprehensive Income: ₹7.56 lakhs
  • Total Comprehensive Income for the period: ₹2.07 lakhs
  • Earnings per equity share (Basic): ₹(0.02) (Previous corresponding half year: ₹(0.01))
  • Earnings per equity share (Diluted): ₹(0.02) (Previous corresponding half year: ₹(0.01))

Statement of Assets and Liabilities (as at September 30, 2026)

  • Total Assets: ₹643.82 lakhs (March 31, 2026: ₹642.27 lakhs)
  • Non-Current Assets: ₹333.20 lakhs (including Investments: ₹16.69 lakhs, Other Financial Assets: ₹315.00 lakhs)
  • Current Assets: ₹310.62 lakhs (including Cash and Cash Equivalents: ₹23.79 lakhs, Other Bank Balances: ₹264.00 lakhs)
  • Total Equity: ₹(401.39) lakhs negative (Equity Share Capital: ₹2,716.05 lakhs, Other Equity: ₹(3,117.44) lakhs)
  • Non-Current Liabilities: ₹1,000.00 lakhs (Borrowings)
  • Current Liabilities: ₹45.21 lakhs
  • Total Liabilities: ₹1,045.21 lakhs

Cash Flow Statement (Six Months Ended September 30, 2026)

  • Net Cash from Operating Activities: ₹(592.22) lakhs
  • Net Cash from Investing Activities: ₹18.41 lakhs
  • Net Cash from Financing Activities: ₹0.00
  • Net Decrease in Cash & Cash Equivalents: ₹(573.81) lakhs
  • Cash and Cash Equivalents Opening: ₹597.60 lakhs
  • Cash and Cash Equivalents Closing: ₹23.79 lakhs

Critical Notes to Financial Results

1. The company has earned profit of ₹2.54 lakhs during the quarter but as at September 30, 2026, accumulated losses exceeded its net worth and total liabilities exceeded total assets.

2. The company does not have any business plan and does not intend to have any business activity in near future.

3. Financial statements have been prepared on non-going concern assumption, with financial assets stated at realizable value or cost whichever is lower.

4. Hon'ble High Court of Gujarat sanctioned scheme of compromise with consortium of 16 banks on July 27, 2004, but final Deed of Assignment of charged assets is yet to be made.

5. Company has unabsorbed depreciation and carry forward losses, but deferred tax assets have not been recognized due to uncertainty of future taxable income.

6. Company has no subsidiary/associate/joint venture companies as of September 30, 2026.

7. No reportable segments as company has no operations.

Auditor's Limited Review Report

G. K. Choksi & Co., Chartered Accountants issued limited review report dated October 28, 2026, stating nothing has come to their attention that causes them to believe the financial results contain material misstatement. They specifically drew attention to Note 3 regarding non-going concern assumption.