The Board considered and approved the following items:

1. Unaudited Financial Results of the Company for the quarter ended 30th June, 2026

2. Limited Review Report issued by the Statutory Auditors on these unaudited financial results

Financial Results Overview (Quarter Ended 30th June, 2026)

  • Net Loss for the quarter: ₹1,462.03 lakhs (₹14.62 crore)
  • Total Expenses: ₹1,462.03 lakhs, primarily consisting of "Other expenses" of ₹1,462.03 lakhs
  • Revenue from Operations: ₹0 (not reported)
  • Other Income: ₹0 (not reported)
  • Tax Expense: ₹0 (not reported)
  • Earnings Per Share (Basic & Diluted): -₹4.21 per share (face value ₹10 each)
  • Paid-up Equity Share Capital: ₹3,472.00 lakhs (unchanged from previous periods)

Comparative Performance

  • Previous quarter (31.03.2026): Net Loss of ₹263.72 lakhs
  • Same quarter previous year (30.06.2025): Not provided for comparison
  • Year ended 31.03.2026: Net Loss of ₹292.97 lakhs

Auditor's Limited Review Report

The statutory auditors, Sarang Shivajirao Chavan and Associates (FRN: 158649W), issued a limited review report on the unaudited financial results. Key points from their report:

  • The review was conducted in accordance with Standard on Review Engagements (SRE) 2410
  • The auditors obtained moderate assurance that the statement is free from material misstatement
  • Emphasis of Matter: The management disclosed a write-off of an advance amount of ₹9,31,59,000 (₹9.32 crore) following a complaint from the Directorate of Enforcement regarding claims against assets that were part of a disputed transaction
  • The company ensured regulatory departments that it would waive claims toward these assets and accordingly wrote off the amount in its books
  • The auditors reported no qualifications in their review

Additional Information

  • The financial results were prepared in accordance with Indian Accounting Standards (IND AS)
  • Segment reporting is not applicable as the company operates in a single segment
  • The trading window for designated persons shall remain closed for 48 hours after the declaration of financial results, in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015
  • The full format of the unaudited financial results is available on BSE website (www.bseindia.com) and the company's website