Approval Details

  • The financial results were approved by the Board of Directors at its meeting held on Wednesday, 27th May, 2026
  • Meeting commenced at 07:15 P.M. and concluded at 07:45 P.M.
  • The audited report dated 27th May, 2026 was issued by the Statutory Auditors M/S V R S K & ASSOCIATES

Financial Position (as at March 31, 2026)

Assets

  • Non-Current Assets: ₹1,972.50 lakhs
  • Property, Plant and Equipment: ₹0
  • Non-current Investment: ₹1,972.50 lakhs
  • Trade receivables-Non current: ₹0
  • Loans, Non Current: ₹0
  • Current Assets: ₹230.61 lakhs
  • Inventories: ₹0
  • Current Investment: ₹0
  • Trade receivables-current: ₹8.00 lakhs
  • Cash and Cash Equivalent: ₹222.61 lakhs
  • Other current assets: ₹0
  • Total Assets: ₹2,203.11 lakhs

Equity and Liabilities

  • Equity: ₹43.52 lakhs
  • Equity Share Capital: ₹5,500.00 lakhs (Face value ₹1/- per share)
  • Other Equity: ₹(5,456.48) lakhs (negative)
  • Non-current liabilities: ₹2,140.19 lakhs
  • Borrowings: ₹2,140.19 lakhs
  • Current liabilities: ₹19.41 lakhs
  • Other current liabilities: ₹19.41 lakhs
  • Total Equity and Liabilities: ₹2,203.11 lakhs

Financial Performance (Year ended March 31, 2026)

  • Total Income: ₹158.10 lakhs (all from Other income)
  • Total expenses: ₹4,304.49 lakhs
  • Employee benefits expense: ₹0.21 lakhs
  • Finance costs: ₹4.01 lakhs
  • Depreciation and amortisation expense: ₹2.18 lakhs
  • Other expenses: ₹6.40 lakhs
  • Loss before exceptional items and tax: ₹(4,146.39) lakhs
  • Exceptional Items: ₹1,427.00 lakhs (Loans & Advances Write-Off)
  • Loss before tax: ₹(5,573.39) lakhs
  • Tax expense: ₹0
  • Net Loss for the period: ₹(5,573.39) lakhs
  • Total Comprehensive Income for the period: ₹(5,573.39) lakhs
  • Earnings per equity share (Basic & Diluted): ₹(1.01)

Cash Flow Statement (Year ended March 31, 2026)

  • Net cash from operating activities: ₹(5,756.74) lakhs
  • Net cash used in investing activities: ₹3,683.66 lakhs
  • Increase/Decrease in Loans & Advances: ₹1,427.00 lakhs
  • Increase/Decrease in Investment: ₹2,256.66 lakhs
  • Net cash from financing activities: ₹2,079.65 lakhs
  • Proceeds from long-term borrowings: ₹2,079.65 lakhs
  • Net increase in cash and cash equivalents: ₹6.57 lakhs
  • Cash and cash equivalents at beginning of period: ₹1.43 lakhs
  • Cash and cash equivalents at end of period: ₹8.00 lakhs

Auditor's Report Key Findings

Qualified Opinion Basis

VRSK & Associates issued a qualified opinion stating:

  • The financial statements may not give a true and fair view due to non-provision of interest on loans
  • The company should have prepared financial statements in compliance with IND-AS as prescribed
  • The financial statements do not comply with Indian Accounting Standards specified under Section 133 of the Act

Key Audit Matters

1. Inter-corporate Loans: Company had borrowed loans balance of ₹2,140.04 lakhs with variety of terms. Audit procedures included obtaining balance confirmations, assessing loan policy compliance, and testing internal controls.

2. Fair Valuation of Investments in Unquoted Instruments: Company's investments in unquoted instruments (₹1,972.50 lakhs) require significant judgement. Auditor could not obtain independent valuation reports for consideration.

Other Regulatory Findings

  • The company has not deposited GST under reverse charges mechanism amounting to ₹0.16 lakhs
  • Pending tax demands exist for multiple assessment years totaling approximately ₹351.81 lakhs
  • The company is required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 but is not registered
  • The company has incurred cash losses of ₹11,123.52 lakhs in current FY and ₹58.38 lakhs in previous FY
  • The company is not capable of meeting its liabilities existing at the balance sheet date within one year
  • There has been resignation of the statutory auditors during the year
  • The company did not maintain accounting software with audit trail feature as required

Notes to Financial Results

  • The results have been prepared in compliance with Companies (India Accounting Standards) Rules, 2015 as amended
  • The company adopted Ind AS for the first time with transition date of 1st April, 2016
  • Figures for previous period have been regrouped to confirm to current period classification