Financial Performance Highlights

Quarter Ended March 31, 2026 (Audited):

  • Revenue From Operations: ₹0
  • Other Income, net: ₹0.62 lakh
  • Total Income: ₹0.62 lakh
  • Total Expenses: ₹65.23 lakh (including Finance Cost of ₹46.92 lakh)
  • Net Loss: ₹64.61 lakh
  • Basic & Diluted EPS: (₹6.30) per share of ₹10 face value

Year Ended March 31, 2026 (Audited):

  • Revenue From Operations: ₹0
  • Other Income, net: ₹0.79 lakh
  • Total Income: ₹0.79 lakh
  • Total Expenses: ₹156.16 lakh (including Finance Cost of ₹112.45 lakh)
  • Net Loss: ₹155.37 lakh
  • Basic & Diluted EPS: (₹15.15) per share of ₹10 face value

Balance Sheet Position (as of March 31, 2026)

  • Total Assets: ₹1,663,978.79 lakh
  • Non-Current Assets: ₹85,478.05 lakh (including Non-current investments of ₹82,299.58 lakh)
  • Current Assets: ₹1,578,500.74 lakh (including Trade Receivables of ₹24,451.69 lakh and Cash & Cash Equivalents of ₹1,825.09 lakh)
  • Shareholder's Funds: Negative ₹(183,442.82) lakh (Share Capital: ₹102,553.20 lakh; Reserves and Surplus: Negative ₹(285,996.02) lakh)
  • Non-Current Liabilities: ₹1,362,820.93 lakh (Long Term Borrowings)
  • Current Liabilities: ₹484,600.68 lakh

Cash Flow Statement (Year Ended March 31, 2026)

  • Net Cash From Operating Activities: Negative ₹(536,134.24) lakh
  • Net Cash From Investing Activities: ₹622.70 lakh
  • Net Cash From Financing Activities: ₹535,353.33 lakh (primarily from Proceeds from Borrowings)
  • Net Decrease in Cash & Cash Equivalents: ₹(158.20) lakh
  • Closing Cash & Cash Equivalents: ₹1,825.09 lakh

Audit Qualification

Independent auditor A. Patwari & Co issued a qualified opinion regarding:

  • Trade receivables aggregating ₹24,45,169 are old and under litigation
  • Specifically, ₹21,34,761 receivable from one debtor is doubtful due to court order against the company and debt being barred by limitation
  • Auditor states provision for doubtful debts needs to be maintained, making Trade Receivables and Other Equity overstated by ₹21,34,761, and loss understated by same amount

Management's Response to Audit Qualification

Management believes provision for doubtful debts is not required because:

  • Though company lost suit in City Civil Sessions Court Mumbai for ₹21,34,761, an appeal has been filed in Mumbai High Court
  • Company is attempting without prejudice discussions with debtor to settle the issue
  • Company is reasonably hopeful of recovering the debt

Additional Information

  • The results prepared in accordance with Indian Accounting Standards (IND AS)
  • Company is single segment company as per AS-17
  • Paid-up Equity Share Capital: ₹102.55 lakh (Face Value ₹10 per share)
  • Board meeting held on 30th May 2026 from 3:00 PM to 4:00 PM IST
  • Company claims exemption from Annual Compliance Report under Regulation 24A due to paid-up capital < ₹10 Crores and net worth < ₹25 Crores