Key Financial Figures

Quarterly Performance (30th September 2026)

  • Revenue from Operations: ₹171.37 lakhs
  • Other Income: ₹47.89 lakhs
  • Total Income: ₹219.26 lakhs
  • Total Expenses: ₹205.05 lakhs
  • Profit before Tax: ₹14.21 lakhs
  • Net Profit: ₹14.21 lakhs

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹214.75 lakhs
  • Other Income: ₹75.44 lakhs
  • Total Income: ₹290.19 lakhs
  • Total Expenses: ₹267.30 lakhs
  • Profit before Tax: ₹22.89 lakhs
  • Net Profit: ₹22.89 lakhs

Comparative Figures

  • Q2 FY26: Revenue ₹98.25 lakhs, Net Loss ₹(2.92) lakhs
  • H1 FY26: Revenue ₹98.25 lakhs, Net Loss ₹(7.70) lakhs
  • FY26: Revenue ₹1,133.37 lakhs, Net Loss ₹(23.52) lakhs

Balance Sheet Position (as at 30th September 2026)

  • Total Assets: ₹749.458 crore
  • Current Assets: ₹749.415 crore
  • Inventories: ₹128.418 crore
  • Financial Assets: ₹620.617 crore
  • Investments: ₹169.546 crore
  • Trade Receivables: ₹84.085 crore
  • Cash and Cash Equivalents: ₹159.165 crore
  • Loans: ₹206.363 crore
  • Other Financial Assets: ₹1.658 crore
  • Other Current Assets: ₹0.180 crore
  • Non-Current Assets: ₹0.043 crore
  • Equity Share Capital: ₹722.450 crore
  • Other Equity: ₹1.111 crore
  • Total Equity: ₹723.561 crore
  • Current Liabilities: ₹25.897 crore
  • Borrowings: ₹25.240 crore
  • Trade Payables: ₹0.657 crore

Cash Flow Statement (H1 FY27)

  • Net cash from operating activities: ₹325.600 crore
  • Net cash used in investing activities: ₹(169.546) crore
  • Net cash from financing activities: ₹0.040 crore
  • Net increase in cash: ₹156.094 crore
  • Cash at beginning: ₹3.071 crore
  • Cash at end: ₹159.165 crore

Parties Involved

  • Auditor: DDS & ASSOCIATES (Firm Registration No: 146184E)
  • Managing Director: Babubhai Bhalabhai Makwana (DIN: 11527268)
  • Auditor Signatory: Dinesh D Shah (Membership No: 106871)

Fund Utilization Statement

  • Mode of Fund Raising: Preferential Issue - Convertible Warrants
  • Date of Raising: 24th May, 2024
  • Amount Raised: ₹72.00 crore
  • Quarter Ended: 30th September 2026
  • Deviation/Variation: No
  • Amount Utilized: ₹56.22 crore
  • Remarks: Company temporarily parked ₹15.78 crore in fixed deposits pending utilization for business growth and working capital requirements

Auditor's Qualified Review Report

DDS & ASSOCIATES issued a qualified conclusion citing four key concerns:

1. Inventory at Third-Party Locations: Inadequate storage agreements, custody arrangements, or independent confirmations for agricultural products inventory. Unable to verify existence, quantity, condition and valuation of inventory.

2. Bill-to-Ship-to Sales Transactions: Lack of adequate documentary evidence including transportation records, proof of delivery, lorry receipts, and e-way bills for sales transactions. Unable to verify occurrence and completeness of sales.

3. Long Outstanding Trade Advances: ₹1595.00 lakhs granted to various parties without corresponding goods received. Lack of contractual agreements and confirmations. Unable to comment on recoverability and impairment requirements.

4. Unsecured Loans and Advances: ₹200.56 lakhs given without formal loan agreements and supporting documentation. Unable to verify terms, conditions, and recoverability.

Additional Information

  • The financial results have been reviewed by the Audit Committee and approved by the Board of Directors
  • Company has only one segment
  • Earnings per share not annualized for interim periods
  • Previous period figures have been re-stated/re-grouped where necessary
  • Results will be uploaded on company website (www.mrugeshtrading.in) and stock exchange website