Board Meeting Details
The meeting of the Board of Directors commenced at 2:35 p.m. and concluded at 3:45 p.m. on Friday, 13th November 2026.
Key Decisions and Approvals
1. Financial Results Approval: The Board approved the Un-Audited Financial Results for the second quarter and half year ended on 30th September 2026 upon the recommendation of the Audit Committee.
2. Management Appointment: Appointment of Mrs. Swapna Shivashankaran (ACS No. 63355) as the Company Secretary and Compliance Officer of the Company with effect from 16th November 2026, consequent upon the resignation of Mrs. Madhuri Ilesh Savla (Membership No. A55739).
- Brief Profile: Ms. Swapna Shivashankaran is a Commerce Graduate (B.com), Law Graduate (LLB) and an Associate member (ACS 63355) of The Institute of Company Secretaries of India with nearly 6 years of experience in corporate secretarial and corporate governance.
3. Auditor Removal: Removal of M/s. V Kumar & Associates, Practicing Company Secretaries, as the Secretarial Auditor of the Company with immediate effect at the discretion of the Board of Directors.
Financial Results Overview (Quarter Ended 30th September 2026)
- Total Revenue: ₹140.62 lacs (compared to ₹714.44 lacs in Q1 FY27 and negative ₹205.95 lacs in Q2 FY26)
- Other Income: Negative ₹130.95 lacs (compared to ₹602.44 lacs in Q1 FY27 and negative ₹383.69 lacs in Q2 FY26)
- Total Expenses: ₹346.37 lacs (compared to ₹195.04 lacs in Q1 FY27 and ₹254.61 lacs in Q2 FY26)
- Profit/(Loss) before tax and exceptional items: Negative ₹205.75 lacs (compared to ₹519.40 lacs in Q1 FY27 and negative ₹460.56 lacs in Q2 FY26)
- Net Profit/(Loss) for the period: Negative ₹192.07 lacs (compared to ₹497.17 lacs profit in Q1 FY27 and negative ₹431.17 lacs in Q2 FY26)
- Earnings Per Share (Basic & Diluted): Negative ₹2.40 (compared to ₹6.21 in Q1 FY27 and negative ₹5.39 in Q2 FY26)
Half Year Performance (Ended 30th September 2026)
- Total Revenue: ₹855.06 lacs (compared to ₹565.52 lacs in H1 FY26)
- Net Profit/(Loss) for the period: ₹305.10 lacs profit (compared to ₹210.64 lacs profit in H1 FY26)
- Earnings Per Share (Basic & Diluted): ₹3.81 (compared to ₹2.63 in H1 FY26)
Balance Sheet Position (as at 30th September 2026)
- Total Assets: ₹7,068.75 lacs (compared to ₹6,672.08 lacs as at 31st March 2026)
- Non-Current Assets: ₹6,961.17 lacs (including Property, Plant and Equipment: ₹717.66 lacs, Investment Property: ₹526.43 lacs, Financial Assets Investments: ₹5,654.86 lacs)
- Current Assets: ₹107.58 lacs (including Cash and Cash Equivalents: ₹30.34 lacs)
- Total Equity: ₹6,708.09 lacs (Equity Share Capital: ₹800.00 lacs, Other Equity: ₹5,908.09 lacs)
- Total Liabilities: ₹360.66 lacs
Cash Flow Statement (Half Year Ended 30th September 2026)
- Net Cash flow from Operating activities after tax: Negative ₹5.09 lacs
- Net Cash flow from investing activity: Negative ₹49.50 lacs
- Net Cash flow from financing activity: ₹84.68 lacs
- Net increase in cash & cash equivalent: ₹30.09 lacs
- Cash & cash equivalent - Closing: ₹30.34 lacs
Auditor's Review and Qualifications
Parveen Lokwani & Co. (Firm Reg. No.: 143818W) reviewed the financial results and issued an Emphasis of Matter stating:
- In respect of certain bank accounts, the Company has not provided bank statements, external confirmations and/or reconciliations for verification
- Unable to verify the recording and carrying balances of such accounts
- Management represented that these accounts are non-operational and completion of formalities is pending with respective banks
- The conclusion is not modified in respect of these matters
Additional Information
- The company's current business activities have only one primary reportable segment: trading of chemicals and commodities
- Financial results prepared in accordance with Indian Accounting Standards (IND AS)
- Figures of previous periods have been regrouped/reclassified wherever necessary to conform to current period/year's classification
- The results were reviewed by the Audit Committee and approved by the Board of Directors