Board Meeting Details

The Board of Directors meeting commenced at 04:30 PM and concluded at 09:10 PM on Saturday, May 30, 2026. The board considered and approved the audited standalone financial results for the quarter and year ended March 31, 2026.

Financial Results Approval

The board approved:

1. Audited Standalone Financial Results along with Auditor's Report for the quarter and year ended March 31, 2026

2. Audited Standalone Financial Statements for the quarter and year ended March 31, 2026 along with Auditor's Report under Section 134 of the Companies Act, 2013

Auditor's Report Details

Statutory Auditors SCAN & Co. Chartered Accountants (Firm Reg. No.113954W) issued an unmodified opinion on the financial results. Partner Chetan Khandelwal (M. No. 408113) signed the report dated May 30, 2026.

Key Financial Figures - Year Ended March 31, 2026 (Audited)

  • Revenue from Operations: ₹5.88 crore (FY25: ₹1.22 crore)
  • Other Income: ₹3.75 crore (FY25: ₹3.16 crore)
  • Total Income: ₹6.26 crore (FY25: ₹1.53 crore)
  • Total Expenses: ₹60.05 crore (FY25: ₹14.59 crore)
  • Profit before Tax: ₹2.50 crore (FY25: ₹0.74 crore)
  • Total Tax Expense: ₹0.84 crore (FY25: ₹0.22 crore)
  • Net Profit: ₹1.66 crore (FY25: ₹0.52 crore)
  • Total Comprehensive Income: ₹1.66 crore (FY25: ₹0.52 crore)
  • Basic/Diluted EPS: ₹0.10 (FY25: ₹0.03)
  • Paid-up Equity Share Capital: ₹33.78 crore (face value ₹2 per share)

Key Financial Figures - Quarter Ended March 31, 2026 (Audited)

  • Revenue from Operations: ₹44.21 lakh
  • Other Income: ₹13.21 lakh
  • Total Income: ₹45.54 lakh
  • Total Expenses: ₹44.99 lakh
  • Profit before Tax: ₹5.50 lakh
  • Total Tax Expense: ₹3.34 lakh
  • Net Profit: ₹2.16 lakh
  • Basic/Diluted EPS: ₹0.01

Key Audit Matters

1. Modification of Lease Arrangement and Accounting of Security Deposits

The company entered into a rent agreement with C3 Multi Speciality Hospital Limited on December 1, 2021, with monthly rent of ₹7.50 lakhs receivable and refundable security deposit of ₹45 lakhs. No rental income was received up to January 2026.

Subsequently, the agreement was terminated and a new agreement was executed effective January 1, 2026 to November 30, 2036. Under the revised arrangement:

  • Monthly rent reduced to ₹1.00 lakh
  • Security deposit increased to ₹11.00 crore

The accounting treatment required significant management judgement due to substantial modification of contractual terms.

Emphasis of Matter

Auditors highlighted three key areas:

1. Note 18: Outstanding dues payable to Micro and Small Enterprises registered under MSMED Act, 2006 aggregating ₹50 lakhs, unpaid for 1-3 years from respective due dates

2. Note 9: Trade receivables aggregating ₹2,69,29,964 outstanding for more than three years, with recoverability dependent on management's assessment

3. Note 5: Loans aggregating ₹4,31,53,653 where loan agreements and supporting documentation for certain loans were not made available for verification

Internal Financial Controls

Auditors opined that the company has adequate internal financial controls system over financial reporting that were operating effectively as at March 31, 2026.

Annexure Findings

  • Fixed Assets: Company maintained proper records; physical verification conducted with no material discrepancies
  • Investments & Loans: Company provided loans aggregating ₹21.52 crore during the year to others (not subsidiaries/joint ventures)
  • Outstanding Loans: ₹31.62 crore balance outstanding to others as at balance sheet date
  • Statutory Dues: Generally regular except ESIC ₹59,520 and Professional Tax ₹80 outstanding
  • No Defaults: Company has not defaulted in repayment of dues to financial institutions, banks or government
  • No Fraud: No instances of material fraud noticed or reported during the year

Cash Flow Statement Highlights

  • Net Cash Flow from Operating Activities: Negative ₹10.44 crore
  • Net Cash Flow from Investing Activities: Positive ₹0.21 crore
  • Net Cash Flow from Financing Activities: Positive ₹5.59 crore
  • Net Increase in Cash & Equivalents: ₹0.54 crore
  • Cash & Equivalents at Year-end: ₹0.22 crore

Balance Sheet Position as at March 31, 2026

  • Total Assets: ₹107.86 crore (FY25: ₹70.97 crore)
  • Total Equity: ₹56.82 crore (FY25: ₹55.16 crore)
  • Total Liabilities: ₹51.04 crore (FY25: ₹15.81 crore)
  • Loans (Assets): ₹4.24 crore
  • Trade Receivables: ₹3.16 crore
  • Inventories: ₹10.28 crore