Financial Results Overview

The Board of Directors of Heera Ispat Limited approved the Standalone Unaudited Financial Results for the quarter and half year ended September 30, 2026 at their meeting held on November 05, 2026. The meeting commenced at 12:00 noon and concluded at 12:30 p.m.

Key Financial Figures

Income Statement Highlights (₹ in lakhs):

  • Revenue from operations: Nil for all periods presented (current quarter, previous quarter, and year-ago comparable periods)
  • Other Income: Nil for all periods
  • Total Expenses: ₹24.87 lakh for half year ended September 30, 2025; ₹7.86 lakh for year ended March 31, 2026
  • Net Loss: ₹3.31 lakh for half year ended September 30, 2026; ₹24.87 lakh for half year ended September 30, 2025; ₹28.16 lakh for year ended March 31, 2026
  • Earnings Per Share (Basic & Diluted): (₹0.03) for current quarter; (₹0.03) for previous quarter; (₹0.08) for year-ago quarter; (₹0.06) for current half year; (₹0.42) for year-ago half year; (₹0.48) for full year ended March 31, 2026

Balance Sheet Position (₹ in lakhs) as at September 30, 2026:

  • Total Assets: ₹6.79 lakh (compared to ₹4.88 lakh as at March 31, 2026)
  • Current Assets: ₹6.79 lakh (Cash and cash equivalents: ₹2.18 lakh; Other current assets: ₹4.61 lakh)
  • Equity Share Capital: ₹588.28 lakh (unchanged from previous period)
  • Other Equity: Negative ₹(675.95) lakh (compared to negative ₹(672.63) lakh as at March 31, 2026)
  • Total Equity: Negative ₹(87.67) lakh (compared to negative ₹(84.35) lakh as at March 31, 2026)
  • Current Liabilities: ₹94.46 lakh (Borrowings: ₹83.40 lakh; Other current liabilities: ₹6.91 lakh; Provisions: ₹4.15 lakh)

Cash Flow Statement (₹ in lakhs):

  • Net cash from operating activities: ₹0.79 lakh for half year ended September 30, 2026 (compared to negative ₹(36.27) lakh for same period previous year)
  • Net cash from financing activities: ₹1.50 lakh for half year ended September 30, 2026 (compared to negative ₹(19.00) lakh for same period previous year)
  • Cash and cash equivalents closing balance: ₹2.18 lakh as at September 30, 2026

Auditor's Review and Qualification

The statutory auditors, Dhrumil A. Shah & Co, Chartered Accountants, issued a limited review report with a qualified opinion dated November 05, 2026. The qualification states that the company has Rs. Nil revenue from operations and has been unable to conclude negotiation or obtain business orders. The auditors noted that this situation indicates a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern, and that the financial statements do not adequately disclose this matter.

Operational Context

The company operates only in one segment, hence no separate segment-wise reporting is applicable. The financial results have been prepared in accordance with Indian Accounting Standards 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013.

Management Perspective

Despite the qualified opinion from auditors, management believes the company shall continue as a going concern based on their expectation of successful business agreement in the near future. The company has taken several steps to mitigate adverse factors, though these are not specified in the disclosure.