Key Financial Figures

Standalone Financial Results (Amount in ₹ Lakhs):

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹1,971.16
  • Total income: ₹1,971.16
  • Loss from operations before tax: ₹(257.74)
  • Total comprehensive loss: ₹(193.18)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹4,095.63
  • Total income: ₹4,095.63
  • Loss from operations before tax: ₹(500.35)
  • Total comprehensive loss: ₹(390.07)

Comparative Figures (Half Year Ended September 30, 2025):

  • Revenue from operations: ₹357.83
  • Total income: ₹525.12
  • Profit from operations before tax: ₹159.00
  • Profit after tax: ₹156.44
  • Total comprehensive income: ₹(140.27)

Year Ended March 31, 2026 (Audited):

  • Revenue from operations: ₹1,928.77
  • Total income: ₹2,102.05
  • Profit after tax: ₹26.77
  • Total comprehensive income: ₹14,185.93

Per Share Data (Face Value ₹10/-):

  • Basic and diluted EPS for quarter ended September 30, 2025: ₹1.00
  • Basic and diluted EPS for year ended March 31, 2026: ₹0.19
  • Equity share capital: ₹1,052.63 lakhs

Balance Sheet Position (Standalone as at September 30, 2026):

  • Total assets: ₹33,475.75 lakhs
  • Non-current assets: ₹25,516.71 lakhs (including Property, plant and equipment: ₹22,938.13 lakhs)
  • Current assets: ₹7,959.03 lakhs (including Inventories: ₹3,701.95 lakhs, Trade receivables: ₹2,394.51 lakhs)
  • Total equity: ₹19,230.67 lakhs
  • Non-current liabilities: ₹7,702.87 lakhs
  • Current liabilities: ₹6,542.20 lakhs

Cash Flow Statement (Standalone for Half Year Ended September 30, 2026):

  • Net cash from operating activities: ₹208.82 lakhs
  • Net cash used in investing activities: ₹(629.03) lakhs
  • Net cash from financing activities: ₹461.53 lakhs
  • Net increase in cash and cash equivalents: ₹41.32 lakhs
  • Cash and cash equivalents at end: ₹60.59 lakhs

Significant Accounting Matters

Fixed Asset Revaluation:

The company's fixed assets were revalued in March 2026. For the half year ended September 30, 2026:

  • Total depreciation expense: ₹800.96 lakhs
  • Additional depreciation attributable to revalued portion: ₹555.81 lakhs
  • Depreciation attributable to historical cost: ₹245.15 lakhs
  • After excluding additional depreciation from revaluation, PAT would be ₹25.53 lakhs for HY 2026
  • Additional depreciation attributable to revalued portion is adjusted against Revaluation Reserve

Auditor's Emphasis of Matter:

The auditors highlighted three key areas:

1. Recovery of Financial Assets: Certain financial assets (trade receivables, debtors, securities) outstanding during insolvency proceedings totaling unspecified amounts. Management is actively following up for recovery in FY 2026-27. If unrecovered, appropriate adjustments, write-offs or provisions will be made.

2. Taxation Notices and NCLT Immunity: Company received various notices from taxation authorities pertaining to periods prior to NCLT order approving Resolution Plan. Management believes these fall within immunity granted under NCLT order. Resolution Professional had invoked moratorium under Section 14 of IBC, 2016 during CIRP.

3. Long-Standing Investments: Investments in ACE Matrix Solutions Limited, Kay Exim Private Limited, and MetalRod Private Limited aggregating ₹1,186.17 lakhs as at September 30, 2026. Due to CIRP disruption, management couldn't obtain latest audited financial statements or confirmations. Investments carried at existing book values. Management is re-establishing communication and taking recovery steps in FY 2026-27.

Corporate Insolvency Resolution Process (CIRP):

  • Company was under CIRP before NCLT during previous financial year
  • CIRP completed on December 8, 2025
  • Operations were substantially disrupted during CIRP
  • Company has resumed full operations during current financial year 2026-27

Segment Information:

  • Only one reportable segment: manufacturing of all kinds of metals and metal products
  • Based on nature of business and review by chief operating decision maker

Subsidiary and Associate Companies:

The consolidated financial results note that financial information for the following entities was not available:

  • RCI World Trade Link DMCC, Dubai (subsidiary)
  • ACE Matrix Solutions Private Limited (associate)
  • Metalrod Private Limited (associate)

Consolidated results have been prepared without incorporating financial information of these entities.

Dates and Timelines:

  • Board meeting date: October 24, 2026
  • Meeting time: 1:00 PM to 1:30 PM
  • Financial period: Quarter and Half Year ended September 30, 2026
  • CIRP completion date: December 8, 2025

Financial Impact Assessment:

The ultimate impact of the emphasis matters (recovery of financial assets, tax notices, and investment valuations) is presently not ascertainable and will be accounted for when matters are concluded.

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