Financial Performance Highlights (FY 2025-26)

  • Gross Revenue/Other Income: ₹1,226 lakhs (Previous year: ₹2,438 lakhs)
  • Net Revenue/Other Income: ₹1,226 lakhs
  • Profit/(Loss) before Exceptional Items and Tax: ₹830 lakhs (Previous year: ₹1,867 lakhs)
  • Exceptional Items (Net): ₹(835) lakhs (due to write-off of Uttarpara property)
  • Profit/(Loss) before Tax: ₹(5) lakhs
  • Tax Expenses: ₹(3) lakhs
  • Net Profit/(Loss) after tax: ₹(2) lakhs (Previous year: ₹1,556 lakhs profit)
  • Other Comprehensive Income: ₹33 lakhs (Items to be reclassified) and ₹(16) lakhs (Items not to be reclassified)
  • Total Comprehensive Income: ₹15 lakhs (Previous year: ₹1,557 lakhs)
  • Accumulated Losses: ₹10,059.47 lakhs as of March 31, 2026 (Previous year: ₹10,751.60 lakhs)
  • Net Worth: ₹3,186.19 lakhs (Previous year: ₹2,461.44 lakhs)

Key Operational Developments

  • The Government of West Bengal resumed and took possession of the entire 395 acres of land comprising the Uttarpara factory during the year
  • The company has written off the Uttarpara property worth ₹835.27 lakhs as an exceptional item
  • Operations remain suspended at Uttarpara plant since May 24, 2014
  • Employee strength reduced to 144 as of March 31, 2026 (from 192 in previous year)
  • The company is exploring new business avenues including data centers, warehousing, and EV projects
  • Supreme Court dismissed the company's Special Leave Petition against land resumption on July 16, 2025
  • Company plans to file a review petition seeking retention of portion of land under Section 6(1)(c) of West Bengal Estates Acquisition Act, 1953

Capital Structure

  • Paid-up Equity Share Capital: ₹104.41 crores (unchanged during the year)
  • Shares Outstanding: 20,86,59,293 equity shares of ₹5 each
  • No dividend declared due to lack of operational profit

Corporate Governance

Board Composition:

  • Six non-executive directors including three independent directors
  • Key Managerial Personnel: Prakash Sahu (CEO), Mahesh Kumar Kejriwal (CFO), Vishakha Gupta (Company Secretary - resigned July 6, 2026)

Board Meetings: 4 meetings held during the year

Committee Meetings: Audit Committee (4), Nomination and Remuneration Committee (2), Stakeholders Relationship Committee (1)

Annual General Meeting

  • 84th AGM Date: September 23, 2026 at 2:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
  • Business:

1. Adoption of audited financial statements for FY26

2. Reappointment of Shri Uttam Bose (DIN: 02340000) who retires by rotation

Voting Arrangements

  • Remote e-voting period: September 20, 2026 (9:00 AM) to September 22, 2026 (5:00 PM)
  • Cut-off date: September 16, 2026
  • Scrutinizer: Shri Anjan Kumar Roy, FCS (CP No. 4557)

Corporate Social Responsibility

  • CSR Obligation: ₹25.50 lakhs (2% of average net profit)
  • CSR Expenditure: ₹25.50 lakhs on eradicating hunger and feeding homeless
  • No unspent CSR amount

Related Party Transactions

All transactions with related parties were in ordinary course of business and at arm's length basis. Details provided in Note 33 of financial statements.

Subsidiaries and Associates

No subsidiaries, joint ventures or associate companies. Consolidated financial statements not prepared.

Internal Financial Controls

Company maintains adequate internal financial controls systems commensurate with its size and operations.

Significant Orders

Supreme Court order dated July 16, 2025 dismissed company's SLP challenging land resumption by West Bengal government.

Delisting

Company voluntarily delisted from National Stock Exchange effective October 10, 2025. Shares continue to be listed on BSE Limited.