Board Meeting Details

The meeting of the Board of Directors was held on Thursday, November 12, 2026. It commenced at 03:00 P.M. and concluded at 03:40 P.M.

Key Outcome

The Board considered and approved the Unaudited Financial Results for the Quarter and Half Year ended September 30, 2026, along with the Limited Review Report (LRR) of the statutory auditors, Khandelwal Jain & Co.

Financial Performance Summary (Amounts in ₹ Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹0.02
  • Other Income: ₹0.30
  • Total Income: ₹0.32
  • Total Expenses: ₹22.75
  • Employee Benefits Expenses: ₹11.79
  • Finance Costs: ₹3.33
  • Depreciation: ₹0.14
  • Other Expenses: ₹7.49
  • Loss before exceptional items and tax: (₹22.45)
  • Exceptional Items: ₹48.00 (One-time legal settlement cost)
  • Loss before tax: (₹70.45)
  • Tax Expense: Nil
  • Net Loss for the quarter: (₹70.45)
  • Total Comprehensive Loss for the quarter: (₹70.33)
  • Basic & Diluted EPS: (₹0.09) per share (Face Value ₹3/-)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹0.02
  • Other Income: ₹0.30
  • Total Income: ₹0.32
  • Total Expenses: ₹48.77
  • Employee Benefits Expenses: ₹24.40
  • Finance Costs: ₹8.32
  • Depreciation: ₹0.24
  • Other Expenses: ₹15.81
  • Loss before exceptional items and tax: (₹48.45)
  • Exceptional Items: ₹48.00 (One-time legal settlement cost)
  • Loss before tax: (₹96.45)
  • Tax Expense: Nil
  • Net Loss for the half-year: (₹96.45)
  • Total Comprehensive Loss for the half-year: (₹96.05)
  • Basic & Diluted EPS: (₹0.12) per share (Face Value ₹3/-)

Comparative Figures (H1 FY26)

  • Net Loss for H1 FY26: (₹37.90) Lakhs

Balance Sheet Position (as at September 30, 2026)

  • Paid-up Equity Share Capital: ₹2,426.67 Lakhs (Face Value ₹3/- each)
  • Other Equity: Negative ₹5,783.12 Lakhs
  • Accumulated Losses: ₹6,392.17 Lakhs
  • Net Worth: Negative ₹3,356.45 Lakhs

Cash Flow Statement (H1 FY27)

  • Net Cash from Operating Activities (A): (₹111.15) Lakhs
  • Net Cash from Investing Activities (B): ₹0.00 Lakhs
  • Net Cash from Financing Activities (C): ₹111.10 Lakhs
  • Cash and Cash Equivalents at period end: ₹2.00 Lakhs

Key Notes to Financial Results

1. Preparation and Approval: The results are prepared in accordance with Ind AS and were reviewed by the Audit Committee and approved by the Board on November 12, 2026.

2. Going Concern: The company has accumulated losses of ₹6,392.17 Lakhs and a negative net worth of ₹3,356.45 Lakhs. Management believes the company will continue as a going concern based on expectations of improved operational efficiencies, strategic initiatives, and exploring funding avenues. The financial statements are prepared on a going concern basis.

3. Segment Reporting: The company operates in a single business segment (wholesaling and retailing of men's suits and trousers) and a single geographical segment (India).

4. Exceptional Item: An exceptional expense of ₹48.00 Lakhs was incurred in Q2 FY27, representing a one-time settlement cost for a legal matter. This is stated to be non-recurring.

Auditor's Review Report (Limited Review Report)

  • The review was conducted by Khandelwal Jain & Co. (Firm Regn. No. 105049W) in accordance with SRE 2410.
  • The auditors draw attention to Note 2 (Going Concern), highlighting the material uncertainty related to the company's ability to continue as a going concern due to net losses, accumulated losses, and negative net worth.
  • Except for the matter above, nothing has come to their attention that causes them to believe that the statement of unaudited financial results is not prepared properly in all material respects.