Board Meeting Details

The Board Meeting was held on Tuesday, 03 November 2026 at 3:00 P.M. at the registered office: 1715, Saiprasad Industrial Park-II, Besides Ramol Police Station, CTM-Ramol Road, Ramol, Ahmedabad, Gujarat, 382449. The meeting ended at 6:30 P.M.

Agenda items considered and approved:

1. Standalone Un-audited Financial Results for quarter and half year ended 30 September 2026

2. Consolidated Un-audited Financial Results for quarter and half year ended 30 September 2026

Standalone Financial Results (Rs. in lakh)

Income Statement Highlights:

Quarter Ended September 30, 2026:

  • Total Income from Operations: ₹0.00
  • Employee Benefits Expense: ₹1.38
  • Financial Expenses: ₹0.05
  • Other Expenses: ₹0.77
  • Total Expenses: ₹2.20
  • Loss Before Tax: ₹(2.20)
  • Tax Expenses: ₹0.00
  • Loss After Tax: ₹(2.20)
  • Total Comprehensive Income: ₹(2.20)
  • Basic & Diluted EPS: ₹(0.06)

Quarter Ended June 30, 2026:

  • Loss After Tax: ₹(13.16)
  • Basic & Diluted EPS: ₹(0.33)

Quarter Ended September 30, 2025:

  • Loss After Tax: ₹(9.08)
  • Basic & Diluted EPS: ₹(0.23)

Half Year Ended September 30, 2026:

  • Loss After Tax: ₹(15.36)
  • Basic & Diluted EPS: ₹(0.38)

Half Year Ended September 30, 2025:

  • Loss After Tax: ₹(21.38)
  • Basic & Diluted EPS: ₹(0.53)

Year Ended March 31, 2026:

  • Loss After Tax: ₹(39.31)
  • Basic & Diluted EPS: ₹(0.98)

Balance Sheet (As at September 30, 2026):

Assets:

  • Non-Current Assets: ₹3,339.17
  • Investments: ₹3,302.22
  • Financial Assets Investments: ₹36.95
  • Current Assets: ₹3.69
  • Cash and Cash Equivalents: ₹3.06
  • Bank Balances: ₹0.63
  • Other Current Assets: ₹0.00
  • Total Assets: ₹3,342.86

Equity and Liabilities:

  • Equity: ₹711.66
  • Equity Share Capital: ₹400.00 (Face Value ₹10/-)
  • Other Equity: ₹311.66
  • Non-Current Liabilities: ₹335.42
  • Loans: ₹85.79
  • Other Non-Current Liabilities: ₹249.63
  • Current Liabilities: ₹2,295.78
  • Trade Payables (Other than MSMEs): ₹0.72
  • Other Current Liabilities: ₹2,294.51
  • Provisions: ₹0.54
  • Total Equity and Liabilities: ₹3,342.86

Standalone Cash Flow Statement:

Half Year Ended September 30, 2026:

  • Net Cash Flow from Operating Activities: ₹6.67
  • Net Cash Flow from Investing Activities: ₹0.00
  • Net Cash Flow from Financing Activities: ₹(7.43)
  • Net Increase in Cash: ₹(0.76)
  • Cash at Beginning: ₹4.45
  • Cash at End: ₹3.69

Consolidated Financial Results (Rs. in lakh)

Income Statement Highlights:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹6,848.66
  • Other Income: ₹44.72
  • Total Income: ₹6,893.38
  • Expenses: ₹6,806.60
  • Profit Before Tax: ₹86.78
  • Tax Expense: ₹23.90
  • Profit After Tax: ₹62.88
  • Total Comprehensive Income: ₹62.88
  • Basic & Diluted EPS: ₹1.57

Quarter Ended June 30, 2026:

  • Profit After Tax: ₹151.83
  • Basic & Diluted EPS: ₹3.80

Quarter Ended September 30, 2025:

  • Profit After Tax: ₹33.56
  • Basic & Diluted EPS: ₹0.84

Half Year Ended September 30, 2026:

  • Profit After Tax: ₹214.71
  • Basic & Diluted EPS: ₹5.37

Half Year Ended September 30, 2025:

  • Profit After Tax: ₹59.83
  • Basic & Diluted EPS: ₹1.50

Year Ended March 31, 2026:

  • Profit After Tax: ₹638.43
  • Basic & Diluted EPS: ₹15.99

Consolidated Balance Sheet (As at September 30, 2026):

Assets:

  • Non-Current Assets: ₹2,249.70
  • Property, Plant and Equipment: ₹1,606.77
  • Financial Assets: ₹432.61
  • Investments: ₹36.95
  • Deposit & Advance: ₹173.38
  • Current Assets: ₹6,736.99
  • Inventories: ₹2,697.69
  • Trade Receivables: ₹2,175.57
  • Loans: ₹1,443.61
  • Cash and Cash Equivalents: ₹10.12
  • Bank Balances: ₹55.38
  • Other Current Assets: ₹354.62
  • Total Assets: ₹8,986.69

Equity and Liabilities:

  • Equity: ₹2,016.19
  • Equity Share Capital: ₹400.00
  • Other Equity: ₹1,616.19
  • Non-Current Liabilities: ₹2,005.12
  • Current Liabilities: ₹4,965.37
  • Total Equity and Liabilities: ₹8,986.69

Consolidated Cash Flow Statement:

Half Year Ended September 30, 2026:

  • Net Cash Flow from Operating Activities: ₹(435.92)
  • Net Cash Flow from Investing Activities: ₹(505.97)
  • Net Cash Flow from Financing Activities: ₹941.54
  • Net Increase in Cash: ₹(0.35)
  • Cash at Beginning: ₹65.85
  • Cash at End: ₹65.50

Auditor Reports

KPSJ & ASSOCIATES LLP issued limited review reports for both standalone and consolidated financial results. The auditors conducted their review in accordance with SRE 2410 and confirmed that nothing came to their attention causing them to believe the statements contain material misstatements.

The consolidated results include subsidiary Palco Recycle Industries Limited, which contributed revenues of ₹5,893.38 lakh for the quarter and ₹12,734.17 lakh for the half year ended September 30, 2026, and net profit of ₹65 lakh for the quarter and ₹230.07 lakh for the half year.

Notes to Financial Results

1. The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors on November 3, 2026

2. Previous period/year figures have been regrouped/rearranged wherever necessary

3. The company has only one business segment, hence IND AS 108 is not applicable