Board Meeting Details

  • Date: Wednesday, 12th August, 2026
  • Time: Commenced at 03:00 PM, concluded at 05:35 PM
  • Location: Registered Office at No 18, III Floor, Anjaneya Temple Road, Yediyur, Jayanagar, 6th Block, Bangalore-560082

Key Decisions Approved

1. Quarterly unaudited financial results along with Limited Review Report for the quarter ended 30th June, 2026

2. Appointment of Mr. Rayaluru Venkatapathi, cost accountant as the Internal Auditor of the company

Financial Results for Quarter Ended 30th June, 2026 (Unaudited)

Income Statement Highlights

  • Total Income: ₹552 lakh
  • Net Sales, Income from operations: Not separately quantified
  • Other operating Income: Not separately quantified
  • Total Expenses: ₹546.48 lakh
  • Consumption of Raw Materials: ₹0
  • Purchase of Traded Goods: ₹0
  • Employee benefit Expenses: ₹0
  • Finance Costs: ₹0
  • Depreciation and Amortisation Expenses: ₹0
  • Other Expenses: ₹546.48 lakh
  • Profit/Loss from operations before Exceptional Items: ₹5.52 lakh
  • Exceptional Items: ₹0
  • Profit before Tax: ₹5.52 lakh
  • Tax Expenses: ₹0
  • Current Tax: ₹0
  • Tax Relating to Earlier Years: ₹0
  • Deferred Tax: ₹0
  • Net Profit for the period: ₹5.52 lakh
  • Earnings per Share (Basic): ₹0.03
  • Earnings per Share (Diluted): ₹0.04

Comparative Figures

  • Previous quarter (31st March, 2026 - Audited): Net Profit ₹362 lakh, EPS ₹0.08
  • Corresponding quarter previous year (30th June, 2025 - Unaudited): Net Profit ₹16.93 lakh

Capital Structure

  • Paid up Equity Share Capital: ₹1,380.00 lakh (Face Value per Share ₹10)
  • Number of shares: 138 lakh shares

Internal Auditor Appointment Details

  • Name: Mr. Rayaluru Venkatapathi
  • Nature of Change: Appointment
  • Date of Appointment: 12th August, 2026
  • Term: Until revoked by the Board or resignation by internal auditor
  • Profile: Proprietor and cost accountant by profession with experience in accounting and taxation
  • Relationship with Directors: No relation

Legal and Regulatory Matters

Cotton Corporation of India Dispute

  • Ongoing dispute with Cotton Corporation of India Limited (CCI) regarding cotton purchases and related claims
  • Arbitration proceedings and subsequent legal appeals pending before Hon'ble High Court of Karnataka
  • Execution proceedings initiated before Hon'ble Commercial Court, Mysuru
  • Proclamation of Sale issued for recovery of alleged dues amounting to ₹703.12 Lakhs
  • Hon'ble High Court of Karnataka granted interim stay on execution proceedings vide order dated January 06, 2026
  • Security deposits of ₹63.90 Lakhs provided to CCI have been fully provided for in earlier years
  • Balance disputed amount of ₹639.23 Lakhs disclosed as Contingent Liability

Auditor's Limited Review Report

  • Conducted by Rao & Emmar Chartered Accountants (Firm Registration Number: 003084S)
  • Review performed in accordance with Standard on Review Engagements (SRE) 2410
  • Conclusion: Nothing came to attention that causes belief that the Statement contains material misstatement
  • Statement does not include Statement of Assets and Liabilities or Statement of Cash Flows as not required by Regulation 33
  • Note: Chief Financial Officer has not signed the Statement as required by Section 134 of Companies Act, 2013

Additional Notes to Financial Results

  • The Company does not have more than one reportable segment in Terms of IAS-108
  • Financial results prepared in accordance with Companies (Indian Accounting Standards) Rules, 2015 (Ind AS)
  • Previous periods figures have been regrouped/rearranged/restated wherever necessary
  • No extraordinary items during the quarter
  • Gain on financial assets measured at FVTPL is subject to confirmation from ICICI Securities
  • GST ITCs availed are subject to reconciliation