Board Meeting Details
The Board of Directors meeting was held on October 29, 2026, from 5:00 PM to 6:30 PM. The Board considered and approved:
1. The Unaudited Standalone and Consolidated Financial Results along with Limited Review Report for the quarter and half year ended September 30, 2026, as per Regulation 33 of SEBI LODR Regulations.
2. The trading window will open after 48 hours from the results announcement in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
Standalone Financial Results (Rs. in lakhs)
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹13.919 lakhs
- Total Expenses: ₹9.253 lakhs
- Employee benefit expense: ₹3.170 lakhs
- Depreciation and amortization: ₹6.083 lakhs
- Loss before tax: ₹4.666 lakhs
- Total Comprehensive Income: ₹4.709 lakhs
- Basic EPS: ₹(0.025) per share of ₹5 face value
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹18.471 lakhs
- Total Expenses: ₹20.871 lakhs
- Employee benefit expense: ₹6.170 lakhs
- Depreciation and amortization: ₹14.701 lakhs
- Loss before tax: ₹2.399 lakhs
- Basic EPS: ₹(0.013) per share
Comparative Figures:
- Q2 FY26 Revenue: ₹3.783 lakhs, Loss: ₹1.144 lakhs
- H1 FY26 Revenue: ₹7.785 lakhs, Loss: ₹10.597 lakhs
- FY26 Revenue: ₹15.641 lakhs, Loss: ₹196.281 lakhs
Standalone Balance Sheet (as at September 30, 2026)
- Total Assets: ₹3,494.128 lakhs
- Non-current Assets: ₹2,381.063 lakhs (Property, Plant & Equipment: ₹1,921.098 lakhs)
- Current Assets: ₹1,113.065 lakhs (Inventory: ₹407.986 lakhs)
- Equity: ₹2,255.675 lakhs
- Equity Share Capital: ₹915.230 lakhs
- Other Equity: ₹1,340.445 lakhs
- Current Liabilities: ₹1,238.453 lakhs
- Borrowings: ₹1,202.855 lakhs
- Trade payables: ₹19.440 lakhs
Consolidated Financial Results (Rs. in lakhs)
Quarter Ended September 30, 2026:
- Total Revenue: ₹15.272 lakhs
- Total Expenses: ₹10.648 lakhs
- Employee benefit expense: ₹4.391 lakhs
- Other expenses: ₹6.256 lakhs
- Loss before exceptional items: ₹4.625 lakhs
- Exceptional items: ₹(121.639) lakhs (goodwill derecognition)
- Loss before tax: ₹117.014 lakhs
- Total Comprehensive Income: ₹116.971 lakhs
- Basic EPS: ₹(0.639) per share
Half Year Ended September 30, 2026:
- Total Revenue: ₹21.010 lakhs
- Total Expenses: ₹22.847 lakhs
- Loss before exceptional items: ₹1.836 lakhs
- Exceptional items: ₹(121.639) lakhs
- Loss before tax: ₹123.475 lakhs
- Basic EPS: ₹(0.675) per share
Significant Events
1. Ladam Foods Private Limited Strike-off: The Ministry of Corporate Affairs approved the strike-off of Ladam Foods Private Limited (subsidiary) under Section 248 of Companies Act, 2013 on July 7, 2026. The company had written off investments and loans aggregating ₹178.72 lakhs during FY26.
2. Lacon India Limited Strike-off: The MCA approved the strike-off application of Lacon India Limited (associate) on October 12, 2026, subsequent to the balance sheet date.
3. Consolidation Impact: Due to loss of control over Ladam Foods, the Group derecognized goodwill of ₹121.64 lakhs and recognized it as an exceptional item. The capital reserve of ₹90.12 lakhs on consolidation of Ladam Homes and Ladam Flora is now presented under Other Equity.
Entities Included in Consolidation
The consolidated results include:
- Ladam Flora Pvt. Ltd. (Subsidiary)
- Ladam Homes Pvt. Ltd. (Subsidiary)
- Ladam Foods Private Limited (Subsidiary up to July 7, 2026)
- Lacon India Limited (Associate)
- Ladam Steels Limited (Associate)
- Spearhead Metals and Alloys Limited (Associate)
Other Information
- The company operates in a single business segment of real estate development
- Other Comprehensive Gain of ₹4,316 represents unrealized gain on equity investments classified as FVTOCI
- No changes in accounting policies
- Figures for previous periods have been regrouped/rearranged where necessary
Auditor Review
The statutory auditors, D P Sarda & Co, conducted a limited review of both standalone and consolidated results and issued an unmodified conclusion.