Board Meeting Details
The Board of Directors meeting was held on Wednesday, 12th August 2026, commencing at 04:30 PM (IST) and concluding at 05:45 PM (IST).
Key Decisions Approved
Financial Results Approval:
- Unaudited standalone financial results for quarter ended June 30, 2026 along with Statutory Auditors Limited Review Report
- Unaudited consolidated financial results for quarter ended June 30, 2026 along with Statutory Auditors Limited Review Report
Annual General Meeting Arrangements:
- Approved Notice of 38th Annual General Meeting for Financial Year 2024-25
- AGM scheduled for 08th September, 2026 at 11:00 AM (IST) through Video Conferencing or Other Audio-Visual Means
- Fixed August 31, 2026 as cut-off date for determining eligibility for remote e-voting
- Remote e-voting period: September 5, 2026 (9:00 AM IST) to September 7, 2026 (5:00 PM IST)
- Closure of Register of Members and Share Transfer Books from September 2, 2026 to September 8, 2026 (both days inclusive)
Auditor Appointments:
- Recommended appointment of M/s. S Talwar & Associates as secretarial auditor for five years commencing from FY 2025-26 till FY 2029-30 (subject to shareholder approval)
- Approved appointment of M/s Pawan Jain & Associates as Scrutinizer for e-voting process
Corporate Reporting:
- Approved 38th Board's Report for Financial Year ended March 31, 2025 along with annexures
Financial Results - Standalone (Unaudited)
Quarter Ended June 30, 2026:
- Revenue from operations: ₹13.45 lakh
- Other income: ₹0.38 lakh
- Total revenue: ₹20.66 lakh
- Total expenses: ₹34.49 lakh
- Loss before tax: ₹(34.49) lakh
- Loss for the year: ₹(34.49) lakh
- Total comprehensive income: ₹(34.49) lakh
- Paid-up equity share capital: ₹279.37 lakh
- Face value per share: ₹10.00
- Basic and diluted EPS: ₹(1.23) (not annualized)
Comparative Figures:
- Quarter Ended March 31, 2026 (Audited): Profit of ₹44.72 lakh
- Quarter Ended June 30, 2025 (Unaudited): Loss of ₹(44.26) lakh
Financial Results - Consolidated (Unaudited)
Quarter Ended June 30, 2026:
- Revenue from operations: ₹0.00 lakh
- Total revenue: ₹0.00 lakh
- Employee benefit expense: ₹33.52 lakh
- Depreciation and amortization: ₹0.38 lakh
- Other expenses: ₹28.87 lakh
- Total expenses: ₹62.77 lakh
- Loss before tax: ₹(62.77) lakh
- Loss for the year: ₹(62.77) lakh
- Total comprehensive income: ₹(62.77) lakh
- Paid-up equity share capital: ₹279.37 lakh
- Face value per share: ₹10.00
- Basic and diluted EPS: ₹(2.25) (not annualized)
Consolidated Entities:
The statement includes results of:
1. Melstarr Aviation Tech Private Limited
2. Melstarr Fintech Private Limited
Subsidiaries reflected total revenue of ₹Nil lakhs, total net profit after tax of ₹(28.28) lakhs, and total comprehensive income of ₹(28.28) lakhs for the quarter.
Comparative Consolidated Figures:
- Quarter Ended March 31, 2026 (Audited): Profit of ₹10.29 lakh
- Quarter Ended June 30, 2025 (Unaudited): Loss of ₹(71.49) lakh
- Year Ended March 31, 2026 (Audited): Loss of ₹(213.94) lakh
Auditor's Qualified Opinion
Both standalone and consolidated financial results received qualified review reports from CKSP and Co LLP, Chartered Accountants (FRN: 131228W).
Basis for Qualification:
- Corporate insolvency resolution process was admitted by NCLT Mumbai vide order dated October 1, 2019 under IBC 2016
- Subsequent change in management with new business plans
- Company was incurring losses prior to management change
- Company has taken initiatives to save operational costs, optimize revenue management, and enhance ancillary revenues
- Business plan has been put into action, but company awaits business licenses and clearances to start operations
- Financial results prepared on going concern basis based on management's expectations of improved operating performance
Additional Notes to Financial Results
- Company is not carrying on any business during current period, hence no reported segment
- Figures for quarter ended March 31, 2026 are balancing figures between audited annual figures and unaudited year-to-date figures up to third quarter
- Previous period figures have been regrouped/reclassified where necessary
- Financial results prepared in accordance with Indian Accounting Standards and SEBI LODR Regulations