Summary of Key Information:
Reporting Period (Quarter/Year): Quarter and Year ended March 31, 2026
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI LODR
Audit Opinion:
Qualified Opinion
Auditor’s Comment:
Auditors M/s. H G Sarvaiya & Co. issued a qualified opinion because the company has not provided for Delayed Period Interest Cost on Deposits amounting to ₹47.91 lakhs for the year ending March 31, 2026 and ₹11.95 lakhs for the quarter ending March 31, 2026. The cumulative impact of interest cost not provided from October 2019 to March 2026 is ₹381.67 lakhs. This overstates profit and understates liability.
Key Financial Highlights [₹ lakhs]:
Standalone Results:
Revenue from Operations: FY26: ₹436.60; FY25: ₹661.30
Total Income: FY26: ₹436.60; FY25: ₹661.30
Net Profit: FY26: ₹271.41; FY25: ₹1169.15
EPS: FY26: ₹1.93; FY25: ₹8.30
Other Equity: As of Mar 31, 2026: ₹42,737.07; As of Mar 31, 2025: ₹43,596.12
Cash and Cash Equivalents: As of Mar 31, 2026: ₹7.89; As of Mar 31, 2025: ₹22.08
Debt: Not Specified
Consolidated Results:
Revenue from Operations: FY26: ₹474.13; FY25: ₹791.10
Total Income: FY26: ₹474.13; FY25: ₹791.10
Net Profit: FY26: -₹686.72 (attributable to owners); FY25: ₹1965.96 (attributable to owners)
EPS: FY26: -₹4.87; FY25: ₹13.95
Other Equity: As of Mar 31, 2026: ₹44,480.40; As of Mar 31, 2025: ₹45,171.89
Cash and Cash Equivalents: As of Mar 31, 2026: ₹312.71; As of Mar 31, 2025: ₹321.75
Debt: Not Specified
Segment-wise Performance:
The Company is operating in a single segment.
Corporate Actions:
Not Specified
Other Significant Information:
Emphasis of Matter by Auditors:
1. As per a scheme sanctioned by the Hon'ble High Court of Karnataka [Order dated 8-Oct-2004], all deposits/bonds were to be repaid by 15-Jun-2009/15-Sep-2009. Total principal and accrued interest payable to the public outstanding is ₹1,370.06 lakhs. During FY24, the company deposited ₹1,395.75 lakhs with the Court.
2. RBI cancelled the company's Certificate of Registration to act as an NBFC [Order dated 13-Jun-2002].
3. The company entered an agreement for the sale of property with M/s Kanara Consumer Products Ltd. (formerly Kurlon Limited). The total amount credited up to 31-Mar-2026 is ₹1,273.37 lakhs. The time stipulated in the agreement has lapsed.
4. Unaudited figures of associate company Kanara Consumer Products Limited (KCPL) were used in the financial results as audited figures were not received.
The consolidated results include the following entities:
Subsidiaries: Manipal Crimson Estate & Properties Private Limited, Eldorado Investments Company Pvt. Ltd, Maharashtra Apex Asset Management Company Limited.
Associates: Manipal Home Finance Limited, Manipal Springs Limited, Kanara Consumer Products Limited.
The company has not recognized deferred tax asset/liability as a matter of prudence.