Key Quantitative Figures

Financial Performance (Rupees in Lakhs):

Quarter Ended March 31, 2026:

  • Revenue from operations: ₹3.14
  • Total Revenue: ₹3.17
  • Total Expenses: ₹21.36
  • Loss before tax: ₹(21.36)
  • Loss for the period: ₹(21.36)
  • Total Comprehensive Income: ₹(28.29)

Year Ended March 31, 2026:

  • Revenue from operations: ₹(118.23) [Note: Negative revenue indicates loss from trading activities]
  • Total Revenue: ₹(118.03)
  • Total Expenses: ₹62.06
  • Loss before tax: ₹(180.09)
  • Tax Expenses: ₹7.77 (Current Tax: ₹(0.08), Deferred Tax: ₹7.85)
  • Net Loss: ₹(172.32)
  • Total Comprehensive Income: ₹(161.96)
  • Earnings per share (Basic and Diluted): ₹(5.39)

Comparative Figures (Year Ended March 31, 2025):

  • Revenue from operations: ₹136.27
  • Net Profit: ₹95.85
  • Earnings per share: ₹3.19

Balance Sheet Position (as at March 31, 2026, Rupees in Lakhs):

Assets:

  • Total Assets: ₹152.97 (Previous year: ₹506.85)
  • Non-current assets: ₹52.71 (Fixed assets: ₹0.02, Investments: ₹46.57, Deferred tax assets: ₹6.12)
  • Current assets: ₹100.26 (Inventories: ₹33.16, Trade receivables: ₹66.33, Cash: ₹0.74, Other current assets: ₹0.03)

Liabilities and Equity:

  • Shareholders' funds: ₹45.07 (Share capital: ₹216.41, Reserves and surplus: ₹(171.34))
  • Current liabilities: ₹107.90 (Short-term borrowings: ₹103.31, Other current liabilities: ₹3.29, Short-term provisions: ₹1.30)

Comparative Figures (March 31, 2025):

  • Shareholders' funds: ₹207.03
  • Reserves and surplus: ₹(9.38)

Dates of Action

  • Board meeting date: May 28, 2026
  • Meeting time: 4:00 PM to 6:50 PM
  • Effective date of internal auditor change: May 31, 2026
  • Financial period ended: March 31, 2026

Parties Involved

  • Former Internal Auditors: M/s Laddha & Laddha (resigned effective May 31, 2026)
  • New Internal Auditors: M/s ARK Jain & Associates (FRN-021769C)
  • Statutory Auditors: Todarwal & Todarwal LLP (ICAI Firm Reg No. W100231)
  • Director: Shyam Sunder Agrawal (DIN: 00355437)
  • Auditor Partner: Sunil Todarwal (Membership No.: 032512)

Operational Highlights

  • The company operates in a single business segment
  • Revenue from operations mainly includes loss arising from Futures and Options (F&O) trading activities
  • Changes in inventories include gain/loss arising from fair valuation of inventory
  • The company is classified as a Non-Banking Financial Company (NBFC)

Auditor's Emphasis of Matter

The statutory auditors highlighted that the company, being an NBFC, should have prepared financial results using the format prescribed for Banks and NBFCs (Annexure II of SEBI circular) but instead used the format for non-NBFC companies (Annexure I). The audit opinion is not modified regarding this matter.

Capital Structure Impact

  • Paid-up equity share capital remained unchanged at ₹216.41 lakhs (Face value ₹10 each)
  • Significant deterioration in reserves and surplus from ₹(9.38) lakhs to ₹(171.34) lakhs due to accumulated losses
  • No change in share capital structure during the period

Cash Flow Implications

Financial impact not quantified in the disclosure beyond the reported net loss of ₹172.32 lakhs for FY26.

Governance Changes

  • Resignation of M/s Laddha & Laddha as Internal Auditors effective May 31, 2026
  • Appointment of M/s ARK Jain & Associates as Internal Auditors for financial year 2026-27
  • The new auditors are a Mumbai-headquartered firm serving companies in accounting, audit, taxation, international tax, transfer pricing, and regulatory advisory

Trading Window Closure

The trading window for all Designated Persons of the Company for dealing in the Company's equity shares will open after 48 hours from declaration of the audited financial results.