Financial Results for Quarter Ended June 30, 2026 (Q1 FY27)

The company reported standalone unaudited financial results showing no operational activity:

  • Revenue from operations: ₹ Nil (same as previous year)
  • Other income: ₹ Nil
  • Total income: ₹ Nil
  • Total expenses: ₹1.80 lakh (compared to ₹1.93 lakh in previous quarter and ₹20.02 lakh in Q1 previous year)
  • Loss before tax: ₹(1.80) lakh
  • Tax expense: ₹ Nil
  • Net loss for the quarter: ₹(1.80) lakh
  • Paid-up equity share capital: ₹588.28 lakh (face value ₹10 per share)
  • Basic and diluted EPS: ₹(0.03) per share

Auditor's Qualified Opinion

The statutory auditors, Dhrumil A Shah & Co, issued a limited review report with a qualified opinion noting that the company has ₹ Nil revenue from operations and has been unable to conclude negotiations or obtain business orders. They indicated that this situation may cast significant doubt on the company's ability to continue as a going concern, though management believes the company will continue as a going concern based on expectations of successful business agreements in the near future.

Management Resignations

1. Mr. Omprakash Dhariwal (DIN: 00952799) resigned as Managing Director effective August 03, 2026, due to personal reasons. He was not a director in any other listed entity.

2. Mr. Chirag Dinesh Chandan (DIN: 03637913) resigned as Whole-time Director effective July 31, 2026, due to personal reasons. He was not a director in any other listed entity.

3. Mrs. Himanshi Jayrajsinh Jadeja resigned as Chief Financial Officer effective close of business hours on August 03, 2026, due to pre-occupation and personal commitments.

New Appointments and Designation Changes

1. Mrs. Himanshi Jayrajsinh Jadeja (DIN: 10972928) changed designation from Executive Woman Director to Non-Executive Woman Director effective August 03, 2026.

2. Mr. Harshvardhan Katariya (DIN: 09583526) appointed as Additional Director designated as Managing Director, in the category of Executive Non-Independent Director and Chairman effective August 03, 2026, subject to shareholder approval. He has over 7 years of experience in business management, planning, and corporate leadership.

3. Mr. Rajesh Sutaria (DIN: 02102686) appointed as Additional Director designated as Independent Director for a five-year term effective August 03, 2026, subject to shareholder approval. He has expertise in warehouse and logistics management.

4. Mr. Jimit Sanghvi appointed as Chief Financial Officer and Key Managerial Personnel effective August 03, 2026. He is a graduate with 10+ years of experience in finance, accounts, taxation, and regulatory compliance.

Board Committee Reconstitution

The Board approved immediate reconstitution of committees to ensure compliance with Companies Act 2013 and SEBI LODR Regulations:

Audit Committee:

  • Mr. Meet Thakkar (Independent Director) - Chairperson
  • Mr. Rajesh Sutaria (Independent Director) - Member
  • Mrs. Himanshi Jadeja (Non-Executive Director) - Member

Nomination and Remuneration Committee:

  • Mr. Rajesh Sutaria (Independent Director) - Chairperson
  • Mr. Meet Thakkar (Independent Director) - Member
  • Mrs. Himanshi Jadeja (Non-Executive Director) - Member

Stakeholders' Relationship Committee:

  • Mrs. Himanshi Jadeja (Non-Executive Director) - Chairperson
  • Mr. Meet Thakkar (Independent Director) - Member
  • Mr. Rajesh Sutaria (Independent Director) - Member

Authorization and Compliance

Mrs. Himanshi Jadeja was authorized to sign and execute all resolutions, filings, and documents related to the board decisions, including filings with MCA, stock exchanges, and other regulatory authorities.

Meeting Details

The Board meeting commenced at 4:30 PM and concluded at 6:00 PM on August 03, 2026.