Financial Results Summary (₹ in Lakhs)
Income Statement Highlights:
- Total Income: ₹0.00 for H1 FY27 (compared to ₹2.99 lakhs in H1 FY26)
- Other Income: ₹0.00 for H1 FY27 (compared to ₹2.99 lakhs in H1 FY26)
- Total Expenses: ₹6.20 lakhs for H1 FY27 (compared to ₹19.01 lakhs in H1 FY26)
- Employee Benefit Expenses: ₹1.50 lakhs
- Other Expenses: ₹4.70 lakhs
- Loss before tax: ₹(6.20) lakhs for H1 FY27 (compared to ₹(1,538.75) lakhs in H1 FY26)
- Loss for the period: ₹(6.20) lakhs for H1 FY27 (compared to ₹(1,538.75) lakhs in H1 FY26)
- Earnings Per Share (Face Value ₹10): Basic and Diluted EPS of ₹(0.06) for H1 FY27
Balance Sheet Position as of September 30, 2026 (₹ in Lakhs):
- Total Assets: ₹666.77 lakhs
- Non-Current Assets: ₹639.81 lakhs (primarily Property, Plant and Equipment: ₹639.79 lakhs)
- Current Assets: ₹26.96 lakhs (Cash and cash equivalents: ₹0.65 lakhs, Other current assets: ₹26.31 lakhs)
- Total Equity: Negative ₹(252.36) lakhs
- Equity Share Capital: ₹1,002.60 lakhs
- Other Equity: Negative ₹(1,254.96) lakhs
- Non-Current Liabilities: ₹910.76 lakhs (Long-term Borrowings)
- Current Liabilities: ₹8.36 lakhs
Cash Flow Statement for H1 FY27 (₹ in Lakhs):
- Net Cash from Operating Activities: ₹(21.33) lakhs
- Net Cash from Investing Activities: ₹(0.02) lakhs
- Net Cash from Financing Activities: ₹19.72 lakhs (Proceeds from Long Term Borrowings)
- Net Decrease in Cash: ₹(1.63) lakhs
- Closing Cash Balance: ₹0.65 lakhs
Auditor's Limited Review Report
J J Patel & Associates, Chartered Accountants (FRN: 133005W), issued a disclaimer of conclusion on the financial results. The basis for disclaimer was that they were not provided with sufficient appropriate evidence (supporting documents and vouchers) in respect of certain payments made by the Company during the half year ended September 30, 2026. This prevented verification of the completeness, accuracy, validity, and classification of such payments, and their consequential impact on expenses, assets, liabilities, profit/loss, and related disclosures.
Historical Context and NCLT Resolution Plan
The notes reference that the Company underwent a Corporate Insolvency Resolution Process (CIRP) under NCLT. A disclaimer of opinion was issued in the Audit Report for half-year and year ended March 31, 2026, due to non-availability of supporting records for opening balances inherited prior to the CIRP implementation. All such unverified opening balances were fully written off/extinguished during FY26 pursuant to the approved NCLT Resolution Plan. No unverified previous balances remain carried forward from April 1, 2026 onwards.
Business Operations and Segment Information
The Company is engaged in providing technology-driven market research, insights, and digital research services. It operates in a single reportable operating segment: 'Market Research Services' as per Ind AS 108 requirements.
Additional Information
- No investor complaints were received during the period
- No holding/subsidiary/joint venture/associate concerns exist
- Previous period figures have been re-grouped/re-classified to conform to current period's classification
- EPS is calculated on weighted average share capital outstanding during the period and is not annualized