Board Meeting Details
The Board of Directors meeting was held on May 30, 2026, from 4:00 PM to 5:30 PM. The Board approved:
- Audited Standalone Financial Results for quarter and financial year ended March 31, 2026
- Auditors' Report issued by Statutory Auditors on the aforesaid results
- Declaration that Statutory Auditors issued Audit Report with modified opinion for both standalone and consolidated financial results for FY ended March 31, 2026
Financial Results Overview (Standalone)
For Year Ended March 31, 2026 (in ₹ lakhs):
- Net Loss: ₹54.75 (compared to ₹27.24 loss in previous year)
- Total Assets: ₹1,963.20 (decreased from ₹2,011.52)
- Total Equity: ₹1,557.63 (decreased from ₹1,612.38)
- Inventory: ₹1,313.14 (unchanged from previous year)
- Cash and Cash Equivalents: ₹0.61 (increased from ₹0.51)
- Other Current Assets: ₹598.81 (essentially unchanged)
- Current Liabilities: ₹371.36 (increased from ₹364.95)
- Borrowings (Current): ₹54.40 (increased from ₹38.20)
Cash Flow Statement (Standalone)
For Year Ended March 31, 2026 (in ₹ lakhs):
- Net Cash from Operating Activities: (₹28.54) [negative]
- Net Cash from Investing Activities: ₹0
- Net Cash from Financing Activities: ₹28.64
- Net Change in Cash: ₹0.10
- Opening Cash (Apr 1, 2025): ₹0.51
- Closing Cash (Mar 31, 2026): ₹0.61
Audit Report Details
Auditor: P. Murali & Co., Chartered Accountants (FRN No: 007257S)
Opinion: Qualified Opinion
Basis for Qualified Opinion:
1. The company has not paid GST Liability of ₹56.06 lakhs up to March 31, 2026
2. The company has not submitted physical verification reports of inventory aggregating to ₹1,313.14 lakhs as at March 31, 2026. Auditors were unable to obtain sufficient evidence regarding physical existence and valuation of inventory
Management's Response to Audit Qualifications
For GST Liability (₹56.06 lakhs):
- The company has recently renewed GST Registration and is in process of paying dues
- GST provision has been made in Books of Accounts
For Inventory (₹1,313.14 lakhs):
- The inventory consists of various projects on hand and animation products
- Management states there is no market for these items as they are long-standing
- The company is unable to determine the value of inventory as they are presently not marketable
Auditor's Comments on Management Response
- For GST: Confirmed that company has made provision for GST liability in books
- For Inventory: Noted that content is in digital media with no current market, and without valuation report, unable to comment on inventory value
Additional Information
- Audit Report Date: May 30, 2026