Nutraplus India Limited FY26 Net Loss ₹34.01 Lakh

Total Income: ₹15,77,518 (compared to Nil in previous year)
Total Expenses: ₹49,78,748
Profit before Depreciation and Taxes: (₹33,92,962) loss
Depreciation: ₹Nil
Profit before tax: (₹34,01,230) loss
Current Tax: ₹Nil
Net Loss after Tax: (₹34,01,230) (compared to ₹5,00,961 loss in FY 2024-25)
Paid-up Share Capital: ₹17,04,55,430 (3,40,91,086 equity shares of ₹5 each)
Negative Net Worth: (₹5,69,02,410) (complete erosion of net worth)
Non-Current Borrowings: ₹2,17,42,042
Trade Payables: ₹8,47,76,854
Cash and Cash Equivalents: ₹6,17,666
Other Current Assets: ₹4,60,57,770 (includes security deposits, loans to employees, and balances with government authorities)

The company recorded total income of ₹15,77,518 during the year compared to Nil in the previous year.
Operations are severely impaired with the company losing all Property, Plant and Equipment under SARFAESI proceedings.
The company has discontinued substantially all business activities and lost key employees in finance, accounts, legal, production and marketing functions.
The company has defaulted in repayment obligations to banks and creditors.

Saraswat Co-operative Bank Limited issued notice dated 18 February 2020 under Section 13(2) of the SARFAESI Act, 2002 for non-payment of principal and interest.
All loan accounts became Non-Performing Assets effective from respective dates mentioned in the notice.
The bank took possession of all mortgaged/pledged assets in FY 2019-20 and completed auction in FY 2020-21.
The bank waived the balance loan which is not recoverable due to negative net worth of the Company.

The company holds 33.58% shareholding (41,50,000 equity shares) in Techno Point Mercantile Private Limited with carrying value of ₹15,00,000 after provision for decline of ₹4,00,00,000.
Investment in Tarapur Environment Protection Society: 24 equity shares with carrying value of ₹2,400.

The company plans to establish and install a Commercial Compressed Bio-Gas (CBG) Plant as part of its future expansion and growth strategy.
The proposed CBG project is aimed at contributing to the Company's long-term business objectives in the renewable and clean energy sector.
The company intends to undertake necessary feasibility studies, regulatory approvals, and other required processes for implementation.

Mr. Mukesh Dhirubhai Naik (DIN: 00412896) retires by rotation and is seeking reappointment at the AGM.
Board consists of 4 directors: 1 Executive Director and 3 Independent Non-Executive Directors.
Mr. Uday M. Desai serves as Chief Executive Officer.
Mr. Ritesh Ganeriwala serves as Company Secretary.

The statutory auditors, M/s. Raman S. Shah & Associates, issued a qualified opinion highlighting:

1. SARFAESI action by Saraswat Bank with all loan accounts becoming NPAs

2. Non-preparation of consolidated financial statements for Techno Point Mercantile Private Limited

3. Unable to comment on recoverability of trade receivables amounting to ₹33.54 lakh

4. Unable to comment on recoverability of other current assets amounting to ₹389.42 lakh

5. Unable to comment on completeness and accuracy of non-current borrowings of ₹217.42 lakh

6. Unable to comment on completeness and correctness of trade payables of ₹847.37 lakh

The auditors highlighted several factors indicating material uncertainty:

Net loss of ₹34.01 lakh during the year and accumulated losses resulting in complete erosion of net worth
Negative net worth of ₹569.02 lakh as at 31st March 2026
Loss of all Property, Plant and Equipment under SARFAESI proceedings
Discontinuation of substantially all business activities
Loss of key employees in critical functions
Default in repayment obligations to banks and creditors

The company's shares were suspended from trading effective February 12, 2021 due to non-compliance with Regulation 27(2) of SEBI LODR Regulations.
The company is in the process of completing formalities for revocation of suspension and relisting.
SEBI has mandated processing of service requests for issue of securities in dematerialized form only.

The 36th Annual General Meeting is scheduled for September 30, 2026 at 01:00 PM through physical mode.
The meeting will consider: (1) Adoption of audited financial statements, and (2) Reappointment of Mr. Mukesh Dhirubhai Naik as director.
Book closure period: September 23, 2026 to September 30, 2026 (both days inclusive).
Remote e-voting period: September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM).

The company has constituted three board committees: Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.
5 Board meetings and 5 Audit Committee meetings were held during the year.
99.88% of the company's share capital is dematerialized as of March 31, 2026.

All related party transactions were conducted at arm's length basis in the ordinary course of business.
Material transactions include directors' salary and loans given to related parties.
Disclosure of material Related Party Transaction in FORM AOC-2 is provided in the report.

Mr. Pankaj S Desai, Company Secretary in Practice, conducted the secretarial audit.
The audit identified certain non-compliances including failure to publish notices in newspapers and maintenance of minutes.
The board was not duly constituted during part of the period but was rectified with appointments of a woman director and company secretary.