Key Financial Results

Quarterly Performance (Q2 FY27)

  • Revenue from operations: ₹0.00
  • Total income: ₹0.00
  • Total expenses: ₹11.92 lakh
  • Employee benefits expense: ₹6.80 lakh
  • Other expenses: ₹5.12 lakh
  • Loss before tax: ₹(11.92) lakh
  • Tax expense: ₹0.00
  • Net loss after tax: ₹(11.92) lakh
  • Other Comprehensive Income: ₹0.00
  • Total comprehensive loss: ₹(11.92) lakh
  • Weighted average number of equity shares: 1.06 lakh shares of face value ₹100 each
  • Basic and diluted EPS: ₹(11.25)

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: ₹10.00 lakh (for the period)
  • Total income: ₹10.00 lakh
  • Total expenses: ₹34.68 lakh
  • Employee benefits expense: ₹8.80 lakh
  • Other expenses: ₹25.88 lakh
  • Loss before exceptional items and tax: ₹(34.68) lakh
  • Exceptional items: ₹2.00 lakh
  • Loss before tax: ₹(32.68) lakh
  • Tax expense: ₹1.27 lakh
  • Net loss after tax: ₹(33.95) lakh
  • Total comprehensive loss: ₹(33.95) lakh
  • Weighted average number of equity shares: 1.06 lakh shares
  • Basic and diluted EPS: ₹(32.03)

Balance Sheet Position (as at 30th September, 2026)

Assets

  • Total assets: ₹166.61 lakh
  • Non-current assets: ₹109.25 lakh
  • Property, plant and equipment: ₹109.09 lakh
  • Investments: ₹0.02 lakh
  • Non-current tax assets (net): ₹0.14 lakh
  • Current assets: ₹57.36 lakh
  • Cash and cash equivalents: ₹11.73 lakh
  • Other current assets: ₹45.63 lakh
  • Non-current assets held for sale: ₹0.00 (previously ₹17.78 lakh as at 31st March, 2026)

Equity and Liabilities

  • Total equity: ₹(313.66) lakh
  • Equity share capital: ₹106.31 lakh
  • Other equity: ₹(419.97) lakh
  • Non-current liabilities: ₹448.91 lakh
  • Borrowings: ₹448.91 lakh
  • Current liabilities: ₹31.36 lakh
  • Trade payables: ₹29.94 lakh (all to creditors other than micro and small enterprises)
  • Other current liabilities: ₹1.42 lakh

Cash Flow Statement (H1 FY27)

  • Net cash used in operating activities: ₹(63.02) lakh
  • Net cash from investing activities: ₹19.76 lakh
  • Proceeds from sale of non-current assets held for sale: ₹19.78 lakh
  • Purchase of investments: ₹(0.02) lakh
  • Net cash from financing activities: ₹44.91 lakh
  • Proceeds from borrowings (net): ₹44.91 lakh
  • Net increase in cash and cash equivalents: ₹1.65 lakh
  • Cash and cash equivalents at beginning of period: ₹10.08 lakh
  • Cash and cash equivalents at end of period: ₹11.73 lakh

Resolution Plan Implementation Details

The company implemented an NCLT-approved resolution plan effective from 11th December 2024 (closing date):

  • Board composition: Nilesh Tiwari, Mehul Ranade, Renuka Borole (Independent Directors), Pradeep Khandagale, Rajashree Khandagale (Promoters)
  • Authorized share capital consolidated from 32,00,000 shares of ₹10 each to 3,20,000 shares of ₹100 each
  • Existing paid-up capital reduced to nil, followed by fresh issue of 1,06,314 shares of ₹100 each
  • 1,01,000 shares (95%) issued to Resolution Applicant (Pradeep Kisan Khandagale) against infusion of ₹101 lakh
  • 5,314 shares (5%) issued to existing shareholders
  • Reduction in share capital of ₹3,007.32 lakh adjusted against debit balance in profit and loss account
  • Difference of ₹2,539.22 lakh between extinguished financial liabilities and consideration paid recognized as exceptional item in FY26
  • ₹491 lakh received during FY26 utilized to settle claims of secured financial creditors, unsecured financial creditors, statutory dues, operational creditors, and CIRP costs
  • All contingent liabilities, commitments, claims and obligations pertaining to period on or before 11th December 2024 stand extinguished

Asset Impairment

During FY26, the company provided for impairment of:

  • Investment in subsidiary companies: ₹283.40 lakh
  • Land and building: ₹331.27 lakh
  • Capital work in progress: ₹140.11 lakh

Other Notes

  • The company has only one reportable segment: Trading business of Plastic related items
  • All expenses post-resolution order are expensed out in the statement of profit and loss
  • Weighted average number of equity shares calculated based on fresh issue post-resolution order
  • No deferred tax asset created due to no virtual certainty of setoff of business losses
  • Sold flat located at Ahmedabad on 17th April 2026, previously shown as non-current asset held for sale
  • Previous period figures have been re-grouped/re-arranged where necessary
  • Quarterly results are unaudited and have undergone limited review by statutory auditors