Meeting Details

The Board of Directors meeting was conducted via video conferencing on Friday, August 14, 2026, commencing at 11:00 AM and concluding at 1:10 PM.

Key Approvals

The Board considered and approved:

1. The Unaudited Financial Results (Standalone) for the quarter ended June 30, 2026, in pursuance of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2. Limited Review Report on Unaudited Financial Results (Standalone) of the Company for the quarter ended June 30, 2026

Financial Results Summary (Standalone)

For Quarter Ended June 30, 2026 (Unaudited):

  • Revenue from Operations: Not quantifiable (represented by placeholder)
  • Other Income: ₹47.45 lakh
  • Total Income: Not quantifiable
  • Total Expenses: ₹66.56 lakh
  • Profit/(Loss) Before Exceptional and Tax: (₹66.56 lakh)
  • Net Profit/(Loss) for the Period: (₹66.56 lakh)
  • Total Comprehensive Income for the Period: (₹66.56 lakh)
  • Weighted Average Number of Equity Shares: 17,528,007
  • Basic Earnings Per Share: (₹0.38)
  • Diluted Earnings Per Share: (₹0.38)

Comparative Figures:

  • March 31, 2026 (Audited): Net Loss of ₹190.00 lakh, EPS (₹1.26)
  • June 30, 2025 (Unaudited): Net Profit of ₹0.00, EPS ₹0.00
  • March 31, 2026: Net Loss of ₹206.76 lakh, EPS (₹1.37)

Key Developments

1. Farm-in Agreement: During the period under review, the Company entered into a Farm-in Agreement to acquire a 90% Participating Interest in the Dipling Cluster (DSF 2016 Block) from a seller consortium comprising M/s Ramayna Ispat Private Limited, M/s Duggar Fiber Private Limited, M/s BDN Enterprises Private Limited, and M/s Mahendra Infratech Private Limited for a lump-sum consideration of ₹13.10 Crores toward physical assets and a 7.5% Sellers Revenue Share on production.

2. Approval Requirements: The transfer of participating interest in the Dipling asset is subject to necessary approvals from the Directorate General of Hydrocarbons (DGH) and shareholders, as applicable.

3. Inter-Corporate Deposit: In terms of the Approved Plan, an Inter-Corporate Deposit (ICD) amounting to ₹262 Lakhs was to be infused for expansion and business development. However, as of June 30, 2026, the management has introduced ₹142.61 Lakhs by way of an interest-free unsecured loan to the company.

4. Shareholding Reclassification: During the quarter ended June 30, 2026, the Company applied for reclassification of M/s Raconteur Granite Limited (holding 5,00,000 Equity Shares / 2.85%) from 'Promoter/Promoter Group' category to 'Public' category. BSE Limited approved this reclassification vide letter No. LIST/COMP/SJ/156/2026-27 dated August 4, 2026.

5. Operational Status: Pursuant to the order passed by National Company Law Tribunal (NCLT), Principal Bench, New Delhi, on February 29, 2024, the resolution applicant was required to recommence operations full-fledged after taking over the corporate debtor. However, the commercial operations of the Company have not yet resumed due to ongoing transitionary activities.

6. Management Transition: Operations of the company have been taken over by new management effective from August 22, 2025 (Management Transfer Date). The current management is working on resuming operations for dealing in minerals and natural gas, petroleum and all other forms of solid, liquid and gaseous hydrocarbons and other minerals.