Board Meeting Details
The meeting was held on November 06, 2026, commencing at 2:30 PM and concluding at 3:00 PM.
Financial Results Overview
Standalone Performance (Q2 FY2027):
- Total Income: ₹210.16 lakh
- Revenue from Operations: ₹0 (no operational revenue)
- Other Income: ₹210.16 lakh
- Profit Before Tax: ₹117.89 lakh
- Tax Expense: ₹31.21 lakh (Current Tax: ₹34.88 lakh, Deferred Tax: ₹(3.66) lakh)
- Profit After Tax: ₹86.68 lakh
- Basic EPS: ₹1.41 (face value ₹10 per share)
Standalone Performance (H1 FY2027):
- Total Income: ₹761.80 lakh
- Profit After Tax: ₹527.83 lakh
- Basic EPS: ₹8.56
Consolidated Performance (Q2 FY2027):
- Total Income: ₹227.21 lakh
- Profit After Tax: ₹86.68 lakh
- Basic EPS: ₹1.41
Consolidated Performance (H1 FY2027):
- Total Income: ₹463.12 lakh
- Profit After Tax: ₹528.22 lakh
- Basic EPS: ₹8.57
Segment-wise Performance
Geographic Segments (Standalone):
- Mumbai: Revenue ₹225.19 lakh (Q2), ₹772.45 lakh (H1)
- Bhavnagar: Revenue ₹0.08 lakh (Q2), ₹16.49 lakh (H1)
- Industrial Oxygen & Trading: No revenue
Assets and Liabilities Position (Standalone as of September 30, 2026)
- Total Assets: ₹16,026.65 lakh
- Property, Plant and Equipment: ₹720.55 lakh
- Investments: ₹14,423.16 lakh
- Financial Assets: ₹18.19 lakh
- Cash and Cash Equivalents: ₹126.30 lakh
- Equity Share Capital: ₹616.67 lakh
- Other Equity: ₹14,506.95 lakh
Key Operational Notes
1. The company had no active business operations during the quarter and is evaluating suitable business opportunities
2. Management maintains going concern assumption despite non-operational status
3. Figures include restatement for prior period error of ₹131.00 lakh bank charges
4. Company availed CC from Punjab National Bank, now surrendered with no dues certificate dated August 04, 2026
Auditor's Emphasis of Matter
1. Advance of ₹1.21 crores accepted in FY2017-18 for joint venture remains unutilized and unpaid
2. Working capital borrowing limit of ₹150 crores surrendered with Punjab National Bank
3. ₹144.23 crores invested in partnership firms (89.99% of total assets), with ₹133.78 crores in one firm used for loans to other entities
4. ₹131.00 lakh non-commitment charges for FY2021-22 to FY2023-24 recognized as prior period error
Subsidiary and Associate Companies
Subsidiary: Hariyana Air Products
Associates: Goyal Hariyana Realty, Orchid Lakeview Developers, Whitefield Projects, Swastik Developers