Key Financial Results

Profit & Loss Statement (Half Year Ended 30th September 2026):

  • Total Income: ₹0.00 lakh (compared to ₹0.00 lakh in H1 FY26 and ₹294.98 lakh in FY25)
  • Total Expenses: ₹11.59 lakh (compared to ₹19.55 lakh in H1 FY26 and ₹344.71 lakh in FY25)
  • Loss before tax: ₹(11.89) lakh (compared to ₹(19.88) lakh in H1 FY26 and ₹(138.63) lakh in FY25)
  • Loss for the period: ₹(11.89) lakh (compared to ₹(19.55) lakh in H1 FY26 and ₹(129.72) lakh in FY25)
  • Earnings per share (Basic & Diluted): ₹(0.05) (compared to ₹(0.10) in H1 FY26 and ₹(0.99) in FY25)

Balance Sheet Position (as at 30th September 2026):

  • Total Assets: ₹8,021.34 lakh
  • Non-Current Assets: ₹63.62 lakh (including Property, Plant & Equipment: ₹43.83 lakh)
  • Current Assets: ₹7,967.72 lakh (including Inventory: ₹1,065.09 lakh, Trade Receivables: ₹1,400.96 lakh, Loans & Advances: ₹5,458.55 lakh)
  • Total Equity: ₹3,612.36 lakh (Equity Share Capital: ₹1,886.47 lakh, Other Equity: ₹1,729.89 lakh)
  • Non-Current Liabilities: ₹300.48 lakh (Borrowings: ₹206.40 lakh)
  • Current Liabilities: ₹4,212.88 lakh (Short-term Borrowings: ₹653.58 lakh, Trade Payables: ₹2,391.48 lakh)

Auditor's Qualified Conclusion

The statutory auditors, H. Rajen & Co., issued a qualified limited review report with the following material observations:

Basis for Qualified Conclusion:

1. The Company granted net additional loans and advances of ₹0.48 lakh during the period, with total loans and advances standing at ₹5,458.55 lakh as of 30.09.2026, which are in contravention of Sections 185 and 186 of the Companies Act, 2013. No shareholders' approval was obtained, and recoverability cannot be ascertained.

2. The Company repaid net short-term borrowings of ₹49.24 lakh during the period, with total short-term borrowings of ₹653.58 lakh as of 30.09.2026 from parties other than directors and relatives, contravening Sections 73 to 76 of the Companies Act, 2013. No counter-party ledger confirmations were provided.

3. Inventory of ₹1,065.09 lakh as of 30.09.2026 cannot be verified due to absence of physical verification report, creating uncertainty about existence and fair valuation.

Emphasis of Matter:

1. Concerns about accuracy and completeness of financial records due to absence of proper accounting entries for tax obligations. Outstanding tax liabilities could not be ascertained.

2. Non-payment of statutory dues: TDS and TCS of ₹10.88 lakh remains outstanding as of 30.09.2026, creating significant financial obligation and potential legal repercussions.

3. Company not maintaining books of account in software with edit log feature as required under Rule 3(1) of Companies (Accounts) Rules, 2014, limiting verification of financial record changes.

4. Uncertainty regarding recoverability of trade receivables of ₹1,400.96 lakh due to no direct confirmation received from debtors.

5. No interest income booked against loans to others, and no provision for doubtful debts against recoverability of loans and advances.

6. Inventory valued only at cost instead of lower of cost or NRV as required by Ind AS 2, and physical inventory counting was not attended.

7. Closing balances relied upon as per books of account where confirmations from debtors and creditors are not available.

Operational Highlights

  • The company is engaged in manufacturing of ERW Steel Tubes with only one reportable segment
  • No production activities were carried out during the quarter ending 30.09.2026
  • No investor complaints were resolved during the quarter, and none were pending from previous quarter

Additional Information

  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of Companies Act 2013
  • Figures of previous year have been retrospectively regrouped where necessary
  • Provision for taxation, if any, will be considered at year end
  • Results available on company website (www.naturoindiabull.com) and stock exchange website (www.bseindia.com)

Approval Details

  • Board meeting held on Saturday, 14 November 2026
  • Results approved by Board of Directors
  • Signed by Jyoti Choudhary, Director (DIN: 07927458)
  • Limited review report signed by Rajendra Desai, Partner of H. Rajen & Co. (FRN: 108351W, M.No: 011307)