Key Quantitative Figures

Standalone Financials (FY2026):

  • Total Income: ₹3,757.42 lakh
  • Total Expenses: ₹1,894.49 lakh
  • Profit before exceptional items and tax: ₹1,862.93 lakh
  • Exceptional item (ICD provision): ₹571.79 lakh
  • Profit before tax: ₹1,291.14 lakh
  • Tax expense: ₹491.64 lakh (current), ₹(62.48) lakh (deferred)
  • Net profit: ₹861.98 lakh
  • EPS: ₹0.64 (basic and diluted)
  • Paid-up equity share capital: ₹13,423.48 lakh
  • Other equity: ₹58,345.54 lakh

Consolidated Financials (FY2026):

  • Total Income: ₹3,757.42 lakh
  • Total Expenses: ₹5,960.57 lakh (including share of associate)
  • Net loss: ₹(2,203.15) lakh
  • EPS: ₹(1.64) (basic and diluted)
  • Paid-up equity share capital: ₹13,423.48 lakh
  • Other equity: ₹76,277.44 lakh

Segment Revenue (Standalone FY2026):

  • Trading: ₹0.44 lakh
  • Investment Activities: ₹1,834.73 lakh
  • Real Estate: ₹1,905.41 lakh
  • Unallocated: ₹16.84 lakh

Dates of Action

  • Board meeting date: May 26, 2026
  • Audit committee meeting date: May 26, 2026
  • Financial period ended: March 31, 2026
  • Auditor report date: May 26, 2026

Parties Involved

  • Statutory Auditors: Mehta Chokshi & Shah LLP (FRN: 106201W/W100598)
  • Associate Company: Oswal Greentech Limited
  • ICD Counterparty: Eternys Infra Private Limited
  • Regulatory authorities: BSE Limited, National Stock Exchange of India Limited, SEBI
  • Company officials: Aruna Oswal (Chairperson, DIN: 00988524), Hemantkant Patni (CFO)

Exceptional Item - ICD Provision

The Company extended an Inter-Corporate Deposit to Eternys Infra Private Limited with outstanding principal and interest of ₹5,71,78,641 (₹5.72 crore) as of March 31, 2026. Due to complete absence of repayment and significant uncertainty regarding recoverability, the management made a full provision of this amount, treated as an exceptional item in the financial statements.

Auditor Opinions

Standalone: Unmodified opinion with emphasis of matter regarding the ICD provision of ₹5.72 crore.

Consolidated: Qualified opinion due to two issues with associate company Oswal Greentech:

1. Non-provisioning of interest income related to an arbitration award dispute, understating PAT by ₹2,086.73 lakh and investments by ₹5,772.67 lakh

2. Lack of confirmations for ICDs and real estate advances aggregating ₹1,22,676.83 lakh, creating uncertainty about recoverability

Capital Structure Impact

No change in paid-up equity share capital remained at ₹13,423.48 lakh. The provision reduced the carrying value of the ICD to nil.

Cash Flow Implications

Standalone cash flow showed net increase in cash & equivalents of ₹4,900.87 lakh, ending with ₹6,706.57 lakh. Operating activities generated ₹5,144.50 lakh cash.

Forward-looking Information

The Company continues to pursue all available remedies for recovery of the ICD amount from Eternys Infra. The associate company is contesting an arbitration award at the Hon. High Court of New Delhi.

Material Changes

Compared to previous year (FY2025):

  • Standalone net profit decreased from ₹10,882.44 lakh to ₹861.98 lakh (mainly due to exceptional item)
  • Consolidated results turned from profit of ₹11,283.61 lakh to loss of ₹2,203.15 lakh
  • Total income decreased from ₹17,368.38 lakh to ₹3,757.42 lakh