Key Quantitative Figures

Quarterly Results (Q2 FY27):

  • Total Income: ₹2 lacs (consisting entirely of Other Income)
  • Total Expenses: ₹127 lacs (Finance Costs: ₹120 lacs, Other Expenses: ₹7 lacs)
  • Loss before tax: ₹125 lacs
  • Tax expense: Nil
  • Loss after tax: ₹125 lacs
  • Other Comprehensive Loss: Nil
  • Total Comprehensive Loss: ₹125 lacs
  • Basic and diluted loss per share: ₹0.19

Half-Yearly Results (H1 FY27):

  • Total Income: ₹11 lacs (consisting entirely of Other Income)
  • Total Expenses: ₹249 lacs (Finance Costs: ₹237 lacs, Other Expenses: ₹12 lacs)
  • Loss before tax: ₹238 lacs
  • Tax credit: ₹25 lacs (from finalization of assessment for previous years)
  • Loss after tax: ₹213 lacs
  • Other Comprehensive Loss: Nil
  • Total Comprehensive Loss: ₹213 lacs
  • Basic and diluted loss per share: ₹0.32

Comparative Figures (Q2 FY26):

  • Total Income: Nil
  • Total Expenses: ₹115 lacs
  • Loss before tax: ₹115 lacs
  • Loss after tax: ₹115 lacs
  • Other Comprehensive Loss: ₹415 lacs
  • Total Comprehensive Loss: ₹530 lacs
  • Basic and diluted loss per share: ₹0.18

Balance Sheet as at September 30, 2026:

  • Total Assets: ₹365 lacs
  • Non-current Assets: ₹284 lacs (Investments: ₹266 lacs, Tax Assets: ₹18 lacs)
  • Current Assets: ₹81 lacs (Investments: ₹75 lacs, Cash: ₹1 lac, Other: ₹5 lacs)
  • Total Equity: Negative ₹3,749 lacs (Share Capital: ₹6,689 lacs, Other Equity: Negative ₹10,438 lacs)
  • Current Liabilities: ₹4,114 lacs (Borrowings: ₹4,107 lacs, Trade Payables: ₹5 lacs, Other: ₹2 lacs)
  • Net Worth: Fully eroded

Cash Flow Statement (H1 FY27):

  • Net cash from operating activities: ₹35 lacs
  • Net cash used in investing activities: Negative ₹13 lacs
  • Net cash used in financing activities: Negative ₹22 lacs
  • Net decrease in cash: Nil
  • Cash and cash equivalents at period end: ₹1 lac

Dates of Action

  • Board Meeting: November 3, 2026 (commenced at 11:45 AM, concluded at 12:25 PM)
  • Review Report Date: November 3, 2026
  • Period Ended: September 30, 2026

Parties Involved

  • Statutory Auditors: S.R. Batliboi & Associates LLP
  • Partner: Nikhil Aggarwal (Membership No.: 504274)
  • Company Secretary: Sonali Manchanda
  • Chairman: Sameer Singh (DIN: 08138465)
  • Lender: Next Radio Limited (inter-corporate borrowing)

Financial and Operational Impact

Going Concern Assessment:

The management has assessed that the going concern assumption is no longer appropriate due to:

1. Significant accumulated losses and fully eroded net worth

2. Current liabilities exceed current assets

3. No business operations, operating cash flows, or definitive business plans

4. Uncertainty regarding repayment of inter-corporate borrowing from Next Radio Limited due in August 2027

Financial results have been prepared on a basis that the Company is not a going concern, with assets and liabilities stated at values management expects to realise or settle under prevailing circumstances.

Capital Structure:

  • Paid-up equity share capital remains unchanged at ₹6,689 lacs (face value ₹10 per share)
  • No change in number of shares outstanding

Other Material Information:

  • No revenue from operations during the period
  • No reportable segments as per Ind AS 108
  • Tax credit of ₹25 lacs arising from finalization of assessment for previous years
  • Exceptional items of ₹72 lacs occurred in FY26 but not in current period