Financial Results for Quarter Ended 30th June 2026
The company reported significant financial deterioration compared to previous periods:
Income Statement Highlights (₹ in Lakhs):
- Net Sales/Income from Operations: ₹0 (compared to ₹0 in Q4 FY26 and Q1 FY25)
- Other Income: ₹0 (compared to ₹0 in Q4 FY26 and Q1 FY25)
- Total Income: ₹0 (compared to ₹0 in Q4 FY26 and Q1 FY25)
Expense Breakdown (₹ in Lakhs):
- Employee Benefit Expense: ₹0 (compared to ₹0.79 in Q1 FY25 and ₹1.33 in FY26)
- Finance Cost: ₹0 (compared to ₹0.01 in Q4 FY26 and Q1 FY25)
- Depreciation and Amortization: ₹0.01 (compared to ₹0.02 in Q4 FY26 and ₹0.01 in Q1 FY25)
- Other Expenses: ₹2,839.76 (massive increase from ₹5.88 in Q4 FY26 and ₹7.14 in Q1 FY25)
- Total Expenses: ₹2,839.77 (compared to ₹5.91 in Q4 FY26 and ₹7.94 in Q1 FY25)
Profit/Loss Position (₹ in Lakhs):
- Loss before tax: ₹(2,839.77) (compared to ₹(5.91) in Q4 FY26 and ₹(7.94) in Q1 FY25)
- Tax Expense: ₹0
- Net Loss for period: ₹(2,839.77) (compared to ₹(5.91) in Q4 FY26 and ₹(7.94) in Q1 FY25)
- Total Comprehensive Income: ₹(2,839.77)
Capital Structure and Per Share Data:
- Paid-up Equity Share Capital: ₹285.40 lakh (unchanged, face value ₹10 per share)
- Reserves excluding Revaluation Reserves: ₹0 (compared to ₹(2,301.27) in FY26)
- Basic EPS: ₹(99.50) (compared to ₹(0.21) in Q4 FY26 and ₹(0.28) in Q1 FY25)
- Diluted EPS: ₹(99.50)
Key Explanatory Notes
Note 6: The outstanding advance given to and investment made in Frost International Limited have been written off during the quarter, considering the resolution proceedings and the Resolution Plan approved by the National Company Law Tribunal, Mumbai Bench-I, vide order dated 05.06.2026, in the matter of Bank of India vs. Frost International Limited. The amount of ₹2,839.76 lakh has been considered irrecoverable and written off in the books.
Other Notes:
- Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
- Company has only one business segment
- Effect of foreign exchange fluctuation will be recognized at year-end
- Previous period figures have been reclassified for comparability
Management Changes
The Board of Directors approved the re-appointment of Mr. Nipun Verma (DIN: 02923423) as Whole-time Director (Key Managerial Personnel) for a further period of 3 years commencing from 1st November 2026 and ending on 31st October 2029, subject to shareholder approval at the ensuing Annual General Meeting.
Director Profile: Mr. Nipun Verma is an Executive Director holding a graduate degree from Lancaster University, UK (2009). He has extensive experience in planning, restructuring operations, export marketing, international business relations, collaborations and joint ventures. He has been associated with the Board since 27th October 2010.
Compliance Details: Mr. Verma is not related to any other director and is not debarred from holding director office by SEBI or any statutory authority.