Key Financial Figures - Standalone (Amounts in ₹ Lakh)

Income Statement:

  • Revenue from Operations: 252.15 (Q1 2026) vs 367.90 (Q4 2025) vs 248.02 (Q1 2025)
  • Other Income: 26.47 (Q1 2026) vs 34.12 (Q4 2025) vs 34.26 (Q1 2025)
  • Total Income: 278.62 (Q1 2026) vs 402.02 (Q4 2025) vs 282.28 (Q1 2025)
  • Total Expenses: 224.68 (Q1 2026) vs 249.20 (Q4 2025) vs 214.57 (Q1 2025)
  • Profit before Exceptional Items and Taxes: 53.94 (Q1 2026) vs 152.82 (Q4 2025) vs 67.71 (Q1 2025)
  • Exceptional Items (net expense): 51.79 (Q1 2026)
  • Profit before Taxes: 2.14 (Q1 2026) vs 152.82 (Q4 2025) vs 67.71 (Q1 2025)
  • Total Tax Expense: 0.55 (Q1 2026) vs 45.69 (Q4 2025) vs 17.35 (Q1 2025)
  • Profit after Taxes: 1.60 (Q1 2026) vs 107.13 (Q4 2025) vs 50.36 (Q1 2025)

Key Metrics:

  • Paid-up Equity Share Capital: ₹15,498,472 (Face Value ₹10 each)
  • Basic EPS: ₹0.01 (Q1 2026) vs ₹0.69 (Q4 2025) vs ₹0.32 (Q1 2025)
  • Diluted EPS: ₹0.01 (Q1 2026) vs ₹0.69 (Q4 2025) vs ₹0.32 (Q1 2025)

Key Financial Figures - Consolidated (Amounts in ₹ Lakh)

Income Statement:

  • Revenue from Operations: 596.84 (Q1 2026) vs 884.10 (Q4 2025) vs 535.08 (Q1 2025)
  • Other Income: 27.68 (Q1 2026) vs 38.03 (Q4 2025) vs 34.58 (Q1 2025)
  • Total Income: 624.53 (Q1 2026) vs 922.13 (Q4 2025) vs 569.66 (Q1 2025)
  • Total Expenses: 509.12 (Q1 2026) vs 565.03 (Q4 2025) vs 426.99 (Q1 2025)
  • Profit before Exceptional Items and Taxes: 115.41 (Q1 2026) vs 357.10 (Q4 2025) vs 142.67 (Q1 2025)
  • Exceptional Items (net expense): 51.79 (Q1 2026)
  • Profit before Taxes: 63.62 (Q1 2026) vs 357.10 (Q4 2025) vs 142.67 (Q1 2025)
  • Total Tax Expense: 16.92 (Q1 2026) vs 117.44 (Q4 2025) vs 29.58 (Q1 2025)
  • Profit after Taxes: 46.70 (Q1 2026) vs 239.66 (Q4 2025) vs 113.09 (Q1 2025)
  • Minority Interest: 4.84 (Q1 2026) vs 11.49 (Q4 2025) vs 9.97 (Q1 2025)
  • Profit after Taxes and Minority Interest: 41.86 (Q1 2026) vs 228.17 (Q4 2025) vs 103.13 (Q1 2025)

Key Metrics:

  • Basic EPS: ₹0.27 (Q1 2026) vs ₹1.47 (Q4 2025) vs ₹0.67 (Q1 2025)
  • Diluted EPS: ₹0.27 (Q1 2026) vs ₹1.47 (Q4 2025) vs ₹0.67 (Q1 2025)

Financial Ratios - Standalone

  • Debt-Equity Ratio: 0.08 (Q1 2026) vs 0.06 (Q4 2025) vs 0.07 (Q1 2025)
  • Debt Service Coverage Ratio: 5.79 (Q1 2026) vs 11.92 (Q4 2025) vs 5.66 (Q1 2025)
  • Interest Service Coverage Ratio: 13.07 (Q1 2026) vs 28.20 (Q4 2025) vs 11.78 (Q1 2025)
  • Current Ratio: 5.11 (Q1 2026) vs 6.92 (Q4 2025) vs 15.52 (Q1 2025)
  • Operating Margin: 0.11 (Q1 2026) vs 0.32 (Q4 2025) vs 0.14 (Q1 2025)
  • Net Profit Margin: 0.01 (Q1 2026) vs 0.29 (Q4 2025) vs 0.20 (Q1 2025)
  • Net Worth: ₹4,576.14 lakh (Q1 2026) vs ₹4,574.54 lakh (Q4 2025) vs ₹4,415.33 lakh (Q1 2025)

Financial Ratios - Consolidated

  • Debt-Equity Ratio: 0.11 (Q1 2026) vs 0.10 (Q4 2025) vs 0.06 (Q1 2025)
  • Debt Service Coverage Ratio: 7.27 (Q1 2026) vs 20.56 (Q4 2025) vs 9.45 (Q1 2025)
  • Interest Service Coverage Ratio: 10.11 (Q1 2026) vs 41.62 (Q4 2025) vs 17.39 (Q1 2025)
  • Current Ratio: 5.00 (Q1 2026) vs 4.91 (Q4 2025) vs 10.26 (Q1 2025)
  • Operating Margin: 0.15 (Q1 2026) vs 0.36 (Q4 2025) vs 0.21 (Q1 2025)
  • Net Profit Margin: 0.08 (Q1 2026) vs 0.27 (Q4 2025) vs 0.21 (Q1 2025)
  • Net Worth: ₹5,535.78 lakh (Q1 2026) vs ₹5,493.92 lakh (Q4 2025) vs ₹5,192.47 lakh (Q1 2025)

Land Dispute - Chhatarpur, Madhya Pradesh

The Company acquired land worth ₹1.88 crore at Village Shivrajpur, District Chhatarpur, Madhya Pradesh near Panna Tiger Reserve on 16th October 2025 for developing a wildlife resort. During mutation process, title disputes emerged. The Company filed a legal case against sellers, and the court directed banks to debit freeze sellers' accounts. As of 30th June 2026, ₹1.34 crore has been recovered. The balance amount is recognized as a current receivable, with recoverability contingent on the outcome of ongoing litigation.

Project Cancellation - Sidhi, Madhya Pradesh

The Madhya Pradesh Tourism Board (MPTB) allotted land (5.950 hectares at Village Parsili, Khasra Nos. 113 and 116, District Sidhi) for resort development. A 90-year Lease Deed was executed on 20 January 2025. The Forest Department declined to grant NOC as the land falls within National Chambal Gharial Sanctuary. The Madhya Pradesh State Wildlife Board did not approve the proposal. MPTB cancelled the Lease Deed vide Order No. 3449/236/218/MPTB/IP/Vyayan/2024 dated 10 June 2026. The Company is entitled to refund of Upfront Premium of ₹1,22,00,000 and return of Performance Security Bank Guarantee of ₹50,00,000 (BG No. 191GT02242360012 issued by HDFC Bank Limited). Additional refundable amounts include Annual lease rentals of ₹2,44,000 and late payment charges of ₹3,71,816. The Company wrote off ₹51,79,387 of pre-operative expenditure as an exceptional item, while ₹24,85,779 of reusable materials was transferred to other projects.

IPO Proceeds Utilization

The Company completed an IPO of 4,086,400 Equity Shares of face value ₹10 each at ₹72 per share (including premium of ₹62 per share), aggregating ₹2,942.21 lakh. Utilization as of 30th June 2026:

  • Sanjay Dubri National Park project: ₹700.00 lakh allocated, ₹0 utilized, ₹700.00 lakh unutilized
  • Pench Jungle Camp renovation: ₹350.00 lakh allocated, ₹350.00 utilized, ₹0 unutilized
  • Investment in Madhuvan Hospitality Private Limited: ₹1,150.00 lakh allocated, ₹879.00 utilized, ₹271.00 unutilized
  • General Corporate Purpose: ₹592.21 lakh allocated, ₹592.21 utilized, ₹0 unutilized
  • Issue Expenses: ₹150.00 lakh allocated, ₹150.00 utilized, ₹0 unutilized

Total utilized: ₹1,971.21 lakh, Unutilized: ₹971.00 lakh (temporarily invested in fixed deposit with HDFC Bank Limited)

Subsidiaries Included in Consolidation

The consolidated results include: Divine Enterprises Private Limited, Versa Industries Private Limited, Madhuvan Hospitality Private Limited, and Jungle Camps India (Kolar) Private Limited.