Board Meeting Outcomes

The Board of Directors meeting was held on 06 November, 2026 at the registered office in Mumbai, commencing at 04:00 PM and concluding at 05:00 PM. The Board transacted the following business:

  • Approved the Un-Audited Standalone Financial Results for the quarter ended 30th September, 2026 pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015
  • Took on record the Audit Report issued by the Statutory Auditors on the Un-Audited Financial Results
  • Approved the Statement of Assets and Liabilities as on 30 September, 2026 and the Cash Flow Statement for the quarter
  • Approved the Statement of Impact of Audit Qualifications

Financial Results Highlights (Quarter Ended 30th September, 2026)

Income Statement (₹ in Lakhs):

  • Total Income: ₹0.00 (no revenue from operations or other income)
  • Total Expenses: ₹1.31
  • Net Loss before tax: ₹(1.31)
  • Tax Expenses: ₹0.00
  • Net Loss for the period: ₹(1.31)
  • Total Comprehensive Income: ₹(1.31)
  • Basic & Diluted EPS: ₹(0.04)

Comparative Performance:

  • Q2 FY26 (30-09-2025): Net Loss ₹(1.16) lakh, EPS ₹(0.03)
  • Q1 FY27 (30-06-2026): Net Loss ₹(1.31) lakh, EPS ₹(0.04)
  • Half Yearly FY27 (30-09-2026): Net Loss ₹(2.62) lakh, EPS ₹(0.07)
  • Full Year FY26 (31-03-2026): Net Loss ₹(4.12) lakh, EPS ₹(0.12)

Balance Sheet Position (as at 30th September, 2026, ₹ in Lakhs):

  • Total Assets: ₹688.22
  • Non-Current Assets: ₹688.18 (Investments: ₹667.20, Other Financial Assets: ₹7.50, Other Non-Current Assets: ₹13.48)
  • Current Assets: ₹0.04 (Cash and Cash Equivalents only)
  • Equity and Liabilities:
  • Equity Share Capital: ₹350.00
  • Other Equity: Negative ₹(905.37)
  • Shareholders' Funds: Negative ₹(555.37)
  • Non-Current Liabilities: ₹1,218.10 (Borrowings: ₹963.78, Trade Payables: ₹27.63, Other Financial Liabilities: ₹219.89, Provisions: ₹2.36, Other Non-Current Liabilities: ₹4.45)
  • Current Liabilities: ₹25.50

Cash Flow Statement (Half Year Ended 30th September, 2026, ₹ in Lakhs):

  • Net Cash from Operating Activities: Not quantified in current period
  • Cash and Cash Equivalents at beginning: ₹0.04
  • Cash and Cash Equivalents at end: ₹0.04

Related Party Transactions Disclosure

  • Related Party: Mahendra Kumar Bothra (Director)
  • Nature of Transaction: Loan Received
  • Amount: ₹87,337
  • No other related party transactions were reported for the quarter

Audit Qualifications and Impact Statement

The Statutory Auditors, S S R V & Associates, issued a qualified opinion on the financial results. Key qualifications include:

Going Concern:

  • Company's net worth is fully eroded due to continuous losses
  • No business operations currently
  • Current liabilities exceed current assets, causing serious financial stress
  • Material uncertainty about Company's ability to continue as going concern

Asset Verification Issues:

  • Inventory balance: Nil
  • Property, Plant & Equipment: Nil (both movable and immovable)

Balance Confirmations:

  • Company did not obtain confirmations for trade receivables, payables, loans, advances and other balances
  • Auditors could not independently verify correctness, completeness and recoverability/payability

Bank Accounts:

  • Company's bank accounts remained inoperative due to pending KYC compliance

Management Response:

  • Acknowledges financial position and auditor observations
  • Evaluating measures to revive business operations and improve financial position
  • Exploring possible sources of financial support and strategic alternatives
  • Taking steps to complete KYC formalities and restore bank account operations
  • Process of reconciling balances and obtaining confirmations from respective parties

Impact Assessment:

  • Management unable to reliably estimate financial impact of audit qualifications
  • Reasons: Non-availability of external confirmations, pending reconciliation of balances, insufficient supporting information
  • Auditors concur with management's assessment and maintain qualified conclusion

Additional Notes from Financial Statements

  • The company is presently non-operational with no employees cost
  • Labour Codes effective November 21, 2025 have no current impact
  • Company's business activity falls within a single operating segment
  • Previous year figures have been re-grouped/re-arranged where necessary
  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS)