Financial Results for Quarter Ended June 30, 2026

Continuing Operations (Engineering Division):

  • Total Revenue from operations: ₹202.15 lakh
  • Other Income: ₹112.38 lakh (including fair value gain on Mutual fund investment of ₹85.13 lakh)
  • Total Income: ₹314.53 lakh
  • Total Expenses: ₹326.64 lakh
  • Cost of Materials Consumed: ₹58.44 lakh
  • Purchase of Stock-in-Trade: ₹4.77 lakh
  • Changes in Inventories: (₹11.80) lakh
  • Employee Benefits Expense: ₹125.63 lakh
  • Finance Cost: ₹3.25 lakh
  • Depreciation and Amortization: ₹34.03 lakh
  • Other Expenses: ₹122.32 lakh
  • Loss before Tax from continuing operations: (₹11.11) lakh
  • Tax expense: Nil
  • Loss for the period from continuing operations: (₹11.11) lakh
  • Basic & Diluted EPS from continuing operations: (₹0.73)

Discontinued Textile Operations:

  • Income: ₹1.20 lakh
  • Expenses: ₹47.35 lakh
  • Loss before tax: (₹46.15) lakh
  • Loss for the period: (₹46.15) lakh
  • Basic & Diluted EPS from discontinued operations: (₹2.77)

Consolidated Performance:

  • Net Loss for the period: (₹58.26) lakh
  • Total Comprehensive Loss for the period: (₹58.26) lakh
  • Basic & Diluted EPS (combined): (₹3.50)
  • Paid-up Equity Share Capital: ₹166.45 lakh (Face value ₹10 each)

Comparative Performance

Quarter ended March 31, 2026:

  • Net Loss: (₹354.03) lakh
  • Continuing operations loss: (₹158.66) lakh
  • Discontinued operations loss: (₹195.37) lakh

Quarter ended June 30, 2025:

  • Net Loss: (₹119.08) lakh
  • Continuing operations profit: ₹104.70 lakh
  • Discontinued operations loss: (₹223.78) lakh

Management Reappointment

The Board of Directors approved the reappointment of Mr. Abhimanyu J. Thackersey (DIN: 00349682) as Joint Managing Director for a period of three years with effect from February 08, 2027 till February 07, 2030, subject to approval of shareholders at the 122nd Annual General Meeting scheduled on September 10, 2026.

Profile Details:

  • Economics Graduate from University of Michigan-Ann Arbor
  • Previously Executive Director from May 09, 2011 to September 07, 2017
  • Rejoined as director effective June 26, 2020
  • Appointed/reappointed as Executive Director effective February 08, 2021
  • Redesignated as Joint Managing Director effective May 23, 2024
  • Current term expires on February 07, 2027
  • Not debarred from holding director office pursuant to any SEBI Order

Key Disclosures and Notes

Discontinued Textile Operations:

  • Textile operations discontinued in previous year with assets shown as held for sale
  • Land & Building continues as Property Plant and Equipment for alternative use
  • Interest subsidy of ₹127.73 lakh under New Textile Policy 2012 (Oct 2016-Sep 2019) outstanding with government department
  • Certain labour cases pending with management confident no material liability beyond provisions

Legal Matters:

  • Joint property development transaction subject to arbitration award
  • Appeal filed before division bench of Bombay High Court by both parties against single bench decision
  • Case pending as on date
  • Provision of ₹63.98 lakh made in FY 2016-17 against claim of ₹1,597.39 lakh plus interest
  • Management expects no further liability

Other Financial Information:

  • Company now has only one segment (Engineering Division)
  • No deferred tax assets created due to uncertainty of future taxable profit
  • No investor complaints received or pending during quarter
  • Figures for earlier periods regrouped/reclassified where necessary

Auditor's Review:

  • Limited review conducted by SHR & CO, Chartered Accountants
  • Review performed in accordance with SRE 2410
  • No material misstatements identified
  • Results for quarter ended March 31, 2026 are balancing figures between audited annual and published unaudited nine-month results

Meeting Details

Board Meeting held on August 07, 2026 commenced at 10:30 AM and concluded at 12:05 PM. Financial results reviewed by Audit Committee and approved by Board of Directors.