Key Quantitative Figures

Profit & Loss (Quarter ended 30-Sep-26):

  • Total Income: ₹1.85 lakhs (entirely from Other Income)
  • Total Expenses: ₹18.35 lakhs
  • Loss before tax: ₹(16.50) lakhs
  • Loss for the period: ₹(16.50) lakhs
  • Basic EPS: ₹(0.09)

Profit & Loss (Half year ended 30-Sep-26):

  • Total Income: ₹1.85 lakhs
  • Total Expenses: ₹42.16 lakhs
  • Loss before tax: ₹(40.31) lakhs
  • Loss for the period: ₹(40.31) lakhs
  • Basic EPS: ₹(0.21)

Balance Sheet (as at 30-Sep-26):

  • Total Assets: ₹806.28 lakhs
  • Property Plant & Equipment: ₹359.18 lakhs
  • Capital Work in Progress: ₹204.21 lakhs
  • Investments: ₹53.80 lakhs
  • Cash & cash equivalents: ₹0.75 lakhs
  • Total Equity: ₹(33.06) lakhs (negative)
  • Borrowings: ₹755.77 lakhs

Cash Flow (Half year ended 30-Sep-26):

  • Net cash used in operating activities: ₹(39.72) lakhs
  • Net cash from investing activities: ₹37.05 lakhs
  • Net cash from financing activities: ₹3.31 lakhs
  • Net increase in cash: ₹0.62 lakhs

Parties Involved

  • Stock Exchanges: BSE Limited (Scrip Code: 531686), Ahmedabad Stock Exchange (Scrip Code: 01636)
  • Statutory Auditors: Nemani Garg Agarwal & Co., Chartered Accountants
  • Regulatory Authority: Food & Drugs Administration (FDA), Panchkula

Operational Status and Rationale

The Company operates in a single segment of pharmaceutical formulations. It has applied for renewal of its Drug Manufacturing Licenses with the FDA, Panchkula, prior to the expiry of existing licenses. The renewal applications are under consideration. Manufacturing operations are suspended pending regulatory approvals. Management is engaging with prospective buyers and business associates for manufacturing and supply arrangements and is optimistic about resuming operations upon approval finalization.

Financial and Operational Impact

Explicitly disclosed: The company generated zero revenue from operations during the quarter. The operational suspension and pending license renewals directly impact the company's ability to generate revenue.

Auditor's Qualifications

Statutory auditors issued a qualified review report citing:

1. Investment of ₹53.80 lakhs in unquoted equity shares recorded at acquisition cost without fair value determination as required by Ind AS. Share certificates were misplaced during record shifting, preventing physical verification.

2. Capital work in progress of ₹204.21 lakhs has stalled. Physical condition requires technical evaluation for potential impairment, though management believes the suspension is temporary and no provision is required.

Related Party Transactions (Half year ended 30-Sep-26)

  • Mr. Peeyush Kumar Aggarwal (Promoter Group & Director): Unsecured loans received - Closing balance ₹50.39 lakhs, transactions during period ₹2.57 lakhs.
  • Omkam Global Capital Private Limited (Common Director): Unsecured loans received - Closing balance ₹664.58 lakhs, transactions during period ₹0.80 lakhs.
  • Mr. Manoj Bhatia (Chief Financial Officer): Remuneration paid - Closing balance ₹3.47 lakhs, transactions during period ₹2.31 lakhs.
  • Ms. Pooja Chuni (Company Secretary): Remuneration paid - Closing balance ₹4.20 lakhs, transactions during period ₹3.00 lakhs.