Board Meeting Details

The Board of Directors meeting was held on 30 May 2026 at the registered office of the Company. It commenced at 4:30 PM and concluded at 5:15 PM.

The Board considered and approved the following matters:

  • Audited Standalone Financial Results for the quarter and year ended 31st March 2026
  • Statutory Auditors Report Standalone for the financial year ended 31st March 2026
  • Cash Flow Statement Standalone for the year ended 31st March 2026
  • Notice of interest received from all directors pursuant to section 184(1) and rule 9(1)
  • Intimation received from all directors pursuant to section 164(2) and rule 14(1) of Companies (Appointment and Qualification of Directors) Rules, 2014

Financial Results Summary (₹ in Lakhs)

Quarterly Performance (Q4 FY26)

  • Revenue from Operations: ₹357.23
  • Other Income: ₹(0.00)
  • Total Revenue: ₹357.23
  • Total Expenses: ₹131.72
  • Profit Before Tax: ₹225.51
  • Tax Expense: ₹0.31 (Deferred tax)
  • Profit After Tax: ₹225.20
  • EPS (Basic): ₹21.45

Annual Performance (FY26)

  • Revenue from Operations: ₹2,135.69
  • Other Income: ₹2.86
  • Total Revenue: ₹2,138.55
  • Total Expenses: ₹2,257.85
  • Loss Before Tax: ₹(119.30)
  • Tax Expense: ₹0.31 (Deferred tax)
  • Loss After Tax: ₹(119.61)
  • EPS (Basic): ₹(11.39)

Comparative Figures (FY25)

  • Revenue from Operations: ₹2,595.27
  • Other Income: ₹10.56
  • Total Revenue: ₹2,605.83
  • Total Expenses: ₹3,063.85
  • Loss Before Tax: ₹(458.02)
  • Tax Expense: ₹0.66 (Deferred tax)
  • Loss After Tax: ₹(458.68)
  • EPS (Basic): ₹(43.68)

Balance Sheet Position as at 31st March 2026 (₹ in Lakhs)

  • Total Assets: ₹20,965.33
  • Total Equity: ₹20,367.37
  • Equity Share Capital: ₹105.00
  • Other Equity: ₹20,262.37
  • Total Liabilities: ₹597.96
  • Non-current liabilities: ₹128.20
  • Current liabilities: ₹469.75

Auditor's Report Qualifications

The statutory auditors, Jain Vinay & Associates, issued a report with the following qualifications:

1. Company's revenue reflected in financials is inclusive of GST value which has been nullified through GST Expenses

2. Bank statements for 7 Union Bank of India accounts totaling approximately ₹6.75 crore are not available with the company, hence closing balances could not be confirmed:

  • A/c No. 317801010036819
  • A/c No. 317801010036821
  • A/c No. 317801010036859
  • A/c No. 317801010036861
  • A/c No. 317801010036863
  • A/c No. 317801010036864
  • A/c No. 317801010036875

3. No residual value reflected by the company in PPE schedule of the fixed asset

Emphasis of Matter

The auditors drew attention to:

  • Audit performed on the basis of data provided by management
  • Creditors, Debtor, Loans and advances are subject to confirmations from respective parties
  • Turnover of the company is inclusive of branch transfer

Pending Litigation and Tax Demands

The company has multiple income tax demands under dispute totaling ₹270.88 crore:

| Assessment Year | Amount (₹) | Forum where dispute is pending |

| 2017 | 1,49,16,970 | Income Tax Department |

| 2016 | 31,47,729 | Income Tax Department |

| 2016 | 24,340 | Income Tax Department |

| 2019 | 27,54,94,462 | Income Tax Department |

| 2022 | 71,08,89,590 | Income Tax Department |

| 2018 | 48,74,01,155 | Income Tax Department |

| 2022 | 22,84,820 | Income Tax Department |

| 2018 | 10,000 | Income Tax Department |

| 2023 | 70,46,208 | Income Tax Department |

The company has not disclosed the impact of pending litigations on its financial position.

Internal Financial Controls

In a separate report, the auditors opined that the company has adequate internal financial controls system over financial reporting and such controls were operating effectively as at 31st March 2026.

Cash Flow Statement (FY26)

  • Cash flow from operating activities: ₹5,886.10
  • Cash flow from investing activities: ₹(5,996.44)
  • Cash flow from financing activities: ₹103.14
  • Net cash outflow: ₹(7.19)
  • Opening cash balance: ₹126.18
  • Closing cash balance: ₹119.00

Declaration

Company declared that statutory auditors have not expressed any modified opinion in their Audit Report for the Audited Financial Results for FY ended March 31, 2026.