Board Meeting Details

The Board of Directors meeting was held on August 11, 2026, commencing at 1600 hrs and concluding at 1635 hrs. The Board approved the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026, and noted the Limited Review Report by Statutory Auditors Ravi Rajan & Co. LLP.

Trading Window Closure

The trading window for dealing in company securities, closed since July 1, 2026, will remain closed until 48 hours after declaration of results, i.e., until Thursday, August 13, 2026.

Standalone Financial Results (₹ in Crore, unless specified)

Quarterly Performance Comparison

| Metric | Quarter ended 30.06.2026 | Quarter ended 31.03.2026 | Quarter ended 30.06.2025 | Year ended 31.03.2026 |

| Revenue from operations | 1.51 | 1.76 | 2.85 | 10.88 |

| Other income | 0.03 | 0.10 | 0.68 | - |

| Total income | 1.54 | 1.86 | 3.53 | 11.71 |

| Total expenses | 5.37 | 5.79 | 5.40 | 22.46 |

| Profit/Loss before exceptional items and tax | (3.83) | (3.93) | (1.87) | (10.75) |

| Exceptional items | (0.03) | (0.03) | 7.88 | - |

| Profit/Loss before tax | (3.86) | (3.96) | 6.01 | (3.43) |

| Total Tax expense | (0.08) | (0.28) | 0.30 | (1.84) |

| Profit/Loss for the period after tax | (3.78) | (3.68) | 5.71 | (1.59) |

| Other comprehensive income (net of tax) | (0.18) | 0.09 | 0.03 | (0.17) |

| Total comprehensive income | (3.96) | (3.59) | 5.74 | (1.76) |

| Paid-up equity share capital (Face Value ₹10) | 52.58 | 52.52 | 52.17 | 52.52 |

| Basic EPS (₹) | (0.72) | (0.70) | 1.21 | (0.31) |

| Diluted EPS (₹) | (0.72) | (0.70) | 1.20 | (0.31) |

Expense Breakdown (Standalone, Q1 FY2027)

  • Employee benefits expense: ₹2.95 crore
  • Non-Executive Directors' Compensation: ₹0.92 crore
  • Finance costs: ₹0.12 crore
  • Depreciation expense: ₹0.25 crore
  • Legal and Professional expenses: ₹0.57 crore
  • Other expenses: ₹0.56 crore

Consolidated Financial Results (₹ in Crore, unless specified)

Quarterly Performance Comparison

| Metric | Quarter ended 30.06.2026 | Quarter ended 31.03.2026 | Quarter ended 30.06.2025 | Year ended 31.03.2026 |

| Revenue from operations | 59.74 | 65.63 | 36.67 | 190.56 |

| Other income | 8.88 | 6.41 | 4.67 | 22.80 |

| Total income | 68.62 | 72.04 | 41.34 | 213.36 |

| Total expenses | 103.65 | 88.91 | 73.81 | 335.31 |

| Loss before exceptional items, tax and share of joint ventures | (35.03) | (16.87) | (32.47) | (121.95) |

| Share of loss of joint ventures | (0.53) | (1.79) | (0.07) | (3.80) |

| Loss before exceptional items and tax | (35.56) | (18.66) | (32.54) | (125.75) |

| Exceptional items | (0.03) | (0.20) | 7.88 | 4.78 |

| Loss before tax | (35.59) | (18.86) | (24.66) | (120.97) |

| Total Tax expense | 0.69 | 0.43 | 0.98 | 0.88 |

| Loss for the period | (36.28) | (19.29) | (25.64) | (121.85) |

| Other comprehensive income (net of tax) | (1.26) | 1.18 | 0.10 | 0.67 |

| Total comprehensive income | (37.54) | (18.11) | (25.54) | (121.18) |

| Basic EPS (₹) | (6.91) | (3.67) | (5.44) | (23.85) |

| Diluted EPS (₹) | (6.91) | (3.67) | (5.44) | (23.85) |

Consolidated Entities

Subsidiaries:

  • Antara Senior Living Limited (100%)
  • Antara Purukul Senior Living Limited* (100%)
  • Antara Assisted Care Services Limited (100%)
  • Antara Bangalore Senior Living Limited* (100%)
  • Max Skill First Limited (100%)

*Held through Antara Senior Living Limited

Joint Venture:

  • Contend Builders Private Limited (62.50%)

Investments and Capital Activities

Q1 FY2027 Investments

  • Allotted Compulsory Convertible Preference Shares (CCPS) of Antara Assisted Care Services Limited (AACSL) for ₹1.88 crore against share application money paid in Q4 FY2026.
  • Subscribed to CCPS of AACSL for ₹37.26 crore, with ₹15.45 crore allotted and ₹21.81 crore pending allotment as of June 30, 2026.

Rights Issue (FY2025-26)

  • Rights Issue Committee approved allotment on May 23, 2025
  • 82,81,973 equity shares of face value ₹10 each at issue price of ₹150 per share (including premium of ₹140 per share)
  • Aggregate amount: ₹124.23 crore
  • Utilization as of June 30, 2026:

| Purpose | Proposed Amount (₹ Cr) | Amount Received (₹ Cr) | Beginning of Quarter (₹ Cr) | During Quarter (₹ Cr) | End of Quarter (₹ Cr) | Unutilized (₹ Cr) |

| AACSL branding/marketing | 65.00 | 65.00 | 42.00 | 13.82 | 55.82 | 9.18 |

| AACSL working capital | 35.00 | 35.00 | 26.83 | 8.09 | 34.92 | 0.08 |

| General corporate purposes | 21.00 | 21.00 | 9.70 | 4.25 | 13.95 | 7.05 |

| Rights Issue expenses | 3.23 | 3.23 | 2.38 | 0.03 | 2.41 | 0.82 |

| Total | 124.23 | 124.23 | 80.91 | 26.19 | 107.10 | 17.13 |

  • Unutilized amount of ₹17.13 crore temporarily parked in fixed deposits (₹18.88 crore including reinvested interest) and designated bank accounts (₹0.01 crore)
  • No deviation from stated objects in Letter of Offer dated April 25, 2025

Preferential Warrant Allotment (FY2025-26)

  • Board approved on September 24, 2025: 36,19,594 Fully Convertible Warrants at ₹222 per Warrant
  • Aggregate amount: ₹80.35 crore to Promoter/Promoter Group and Non-Promoter entities
  • 50% consideration (₹40.17 crore, ₹111 per warrant) received in previous financial year
  • Remaining ₹40.18 crore received in July 2026
  • Board approved conversion via Circular Resolution on July 23, 2026: 36,19,594 equity shares of ₹10 each at premium of ₹212 per share
  • ₹40.00 crore invested in Antara Senior Living Limited up to June 30, 2026

Exceptional Items

Q1 FY2027

  • Rights Issue expenses: ₹0.03 crore (classified as non-recurring)

FY2025-26

  • Sale of property: Max Towers floors L-19, L-20, and L20M (60,561 sq ft) to Max Towers Private Limited (subsidiary of Max Estates Limited) on May 9, 2025
  • Aggregate consideration: ₹105.08 crore
  • Carrying value: ₹95.08 crore
  • Profit recognized: ₹9.53 crore (net of transaction expenses ₹0.47 crore)
  • Classified as exceptional as not part of ordinary business activities
  • Rights Issue expenses: ₹1.73 crore (non-recurring)
  • Impact of Code on Wages 2019: Additional provisions for employee benefits
  • Gratuity: ₹2.31 crore
  • Leave Encashment: ₹0.54 crore
  • Donations by AACSL: ₹0.16 crore related to fire incident settlement

Employee Stock Options

  • Nomination and Remuneration Committee approved grant of 8,74,227 ESOPs under ESOP Plan 2020 on June 9, 2026
  • 60,000 ESOPs allotted to eligible employees during Q1 FY2027
  • ESOP movement:

| Particulars | 30.06.2026 | 31.03.2026 | 30.06.2025 | 31.03.2026 |

| Opening balance | 13,63,810 | 14,36,310 | 18,56,189 | 18,56,189 |

| Granted | 8,74,227 | - | - | 2,70,683 |

| Exercised | 60,000 | 72,500 | 3,00,472 | 6,51,556 |

| Forfeited | - | - | 16,230 | 1,11,506 |

| Closing balance | 21,78,037 | 13,63,810 | 15,39,487 | 13,63,810 |

Subsidiary Updates

  • Max UK Limited (wholly owned subsidiary) dissolved effective May 26, 2026, after strike-off application filed February 13, 2026
  • Investment in Max UK Limited written off during FY2025-26

Segment Reporting

  • Company views activities as one business segment (holding company nurturing business investments)
  • For consolidated reporting, Assisted Care segment bifurcated into:

(1) Care Home and Services

(2) Products

  • Comparative figures regrouped/reclassified for consistency