Key Board Approvals

The Board of Directors, in a meeting held from 12:35 PM to 1:15 PM at the Registered Office, approved the following matters:

1. Approved the un-audited financial results of the company for the quarter ended 30 June 2026.

2. Approved shifting of the Registered Office of the Company from its current location at 3rd Floor, D.No. 2-93/8 & 2-93/9, Three Cube Towers, White Fields, Kondapur, Serilingampally, K.V. Rangareddy Dist, Telangana, India, 500084 to Plot no.83/ A, bearing House no. 8-2-293/L/83-A, MLA Colony, Road No. 12, Banjara Hills, Hyderabad, Telangana, India- 500034.

3. Approved the Board's Report for the financial year ending 31 March 2026.

4. Approved the appointment of CS Surya Prakash Perumalla of SPP & Associates, Company Secretaries, Hyderabad, as the Scrutinizer for the forthcoming Annual General Meeting (AGM).

5. Approved the Notice of the 41st Annual General Meeting (AGM) to be held on 15 September 2026.

Unaudited Financial Results for Quarter Ended 30 June 2026 (Q1 FY27)

The financial results are presented in ₹ lakhs and are prepared in accordance with Indian Accounting Standards (Ind AS).

Profit & Loss Statement (Quarterly):

  • Revenue from Operations: ₹3.00 lakh
  • Other Income: ₹0.15 lakh (Dividend received from SVC Co-op Bank on withdrawal of investment)
  • Total Revenue: ₹3.15 lakh
  • Total Expenses: ₹18.76 lakh
  • Employees benefits expense: ₹7.28 lakh
  • Operating Expense: ₹11.48 lakh
  • Profit / (loss) before tax: (₹15.61) lakh
  • Tax Expense: ₹0.00 lakh
  • Profit / (loss) after tax: (₹15.61) lakh
  • Total Comprehensive Income for the period: (₹15.61) lakh
  • Paid-up Equity Share Capital (face value of ₹10 each): ₹300.35 lakh
  • Basic and Diluted EPS (₹): (₹0.52)

Comparative Figures:

  • Quarter Ended 30-06-2025: Net Loss of ₹16.64 lakh; EPS of (₹0.55)
  • Year Ended 31-03-2026 (Audited): Net Loss of ₹43.93 lakh; EPS of (₹1.46)

Balance Sheet Highlights (as of 30 June 2026):

  • Total Assets: ₹34.99 lakh
  • Current assets: ₹34.99 lakh
  • Others (Security Deposits): ₹12.29 lakh
  • Trade receivables: ₹22.19 lakh
  • Cash and cash equivalents: ₹0.01 lakh
  • Bank balances other than cash: ₹0.50 lakh
  • Total Equity and Liabilities: ₹34.99 lakh
  • Equity: (₹611.31) lakh [₹300.35 lakh share capital + (₹911.66) lakh other equity]
  • Liabilities: ₹646.30 lakh
  • Non-current liabilities: ₹371.40 lakh (Financial Liabilities - Borrowings)
  • Current liabilities: ₹274.90 lakh
  • Trade payables: ₹137.30 lakh
  • Other financial liabilities: ₹124.44 lakh
  • Other current liabilities: ₹12.97 lakh

Notes to Financial Results

1. The results are prepared in accordance with Ind AS.

2. Figures have been re-classified/rearranged/re-grouped for consistency.

3. The results were reviewed by the Audit Committee and approved by the Board on 14 August 2026.

4. Auditor's Observations:

a) The company has not provided for interest amounting to ₹2.81 lakhs payable on an Inter-Corporate Borrowing from Miven Mayfran Conveyors Pvt Ltd for the quarter. The management is in discussion with the lender for a waiver of the loan and accumulated interest. The cumulative interest not provided for is ₹30.91 lakhs.

b) Other Income of ₹0.15 lakhs represents a dividend received from SVC Co-op Bank upon withdrawal of investment.

5. Going Concern: The auditors highlighted a material uncertainty regarding the company's ability to continue as a going concern. Total outside liabilities (₹646.30 Lakhs) exceed total assets (₹34.99 Lakhs), resulting in a complete erosion of net worth. The company, citing a change in management, new business plans, and support from new promoters, believes the going concern assumption is valid.

6. The company is engaged in a single reportable segment: manufacturing heavy-duty water dispensers and proprietary Digital Water Banks. All sales and assets are in India, with no single major customer.

Independent Auditor's Review Report (V. Rao & Gopi, Chartered Accountants)

  • The review was conducted pursuant to Regulation 33 of the SEBI LODR Regulations, 2015, and Standard on Review Engagements (SRE) 2410.
  • Basis for Qualified Conclusion: The auditor's report is qualified due to the non-provision of interest expenditure of ₹2.81 lakhs. If provided, finance costs and liabilities would increase, and comprehensive income would decrease by this amount.
  • Qualified Conclusion: Except for the above matter, nothing has come to their attention to believe the statement contains material misstatements.
  • Material Uncertainty Relating to Going Concern: The auditor explicitly draws attention to Note 5 and the financial condition (liabilities exceeding assets, losses, no tangible PPE or inventory) indicating a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.