Financial Results for Quarter Ended June 30, 2026

Unaudited Standalone Financial Results (Rs. in lacs):

  • Revenue from Operations: ₹3,606.86 lacs (vs. ₹8,267.37 lacs in Q1 FY26)
  • Other Income: ₹11.89 lacs (vs. ₹69.04 lacs in Q1 FY26)
  • Total Income: ₹3,618.75 lacs (vs. ₹8,336.41 lacs in Q1 FY26)
  • Total Expenses: ₹4,039.93 lacs (vs. ₹7,914.90 lacs in Q1 FY26)
  • Loss before tax: ₹(421.18) lacs (vs. profit of ₹421.51 lacs in Q1 FY26)
  • Deferred Tax: ₹1.22 lacs
  • Net Loss: ₹(422.40) lacs (vs. profit of ₹432.20 lacs in Q1 FY26)
  • Total Comprehensive Loss: ₹(421.28) lacs (vs. profit of ₹432.22 lacs in Q1 FY26)
  • Basic Earnings per share: ₹(1.09) (vs. ₹1.12 in Q1 FY26)
  • Paid-up Equity Share Capital: ₹387.50 lacs (unchanged)

Director Appointments

1. Ms. Hema Lakhmichand Advani (DIN: 10764751) appointed as Additional Non-Executive Independent Director for five years effective August 13, 2026, subject to shareholder approval. She is a member of the Institute of Company Secretaries of India (membership number A40537) with MBA and over 10 years experience in corporate and securities laws.

2. Ms. Kiran Nitesh Prajapati (DIN: 11869440) appointed as Additional Non-Executive Independent Director for five years effective August 13, 2026, subject to shareholder approval. She is a qualified Company Secretary with over 8 years experience in corporate governance, compliance management, and regulatory affairs.

Director Resignations

1. Mr. Alpesh Dinesh Kumar Shah (DIN: 10661799) resigned as Independent Director effective closure of business on August 13, 2026 due to personal reasons. He ceased to be member of Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee.

2. Mr. Punambhai Bhailalbhai Patel (DIN: 10661796) resigned as Independent Director effective closure of business on August 13, 2026 due to personal reasons.

Committee Reconstitution

Reconstitution of Audit Committee, Nomination & Remuneration Committee, and Stakeholder Relationship Committee due to appointment of new Independent Directors and cessation of Mr. Alpesh Dinesh Kumar Shah.

GST Investigation Disclosure

During Q1 FY26, Directorate General of GST Intelligence (DGGI), Ahmedabad Zonal Unit conducted search proceedings under Section 67 of CGST Act, 2017. The company deposited ₹188.00 lakhs (₹1.88 crore) under protest pursuant to oral instructions of officials. Subsequently received FORM GST DRC-01A under Section 74(5) for FY 2020-21 and FY 2021-22 intimating approximately ₹377.00 lakhs (₹3.77 crore). Company is seeking clarification regarding the difference between amounts. Management believes ITC was appropriately availed and does not expect material adverse impact.

Labour Code Implementation Impact

The Government of India consolidated 29 labour legislations into 4 Labour Codes effective from November 21, 2025. Company has considered financial implications based on best available information and estimates, recognized in Q1 FY27 financial results.

Auditor Review

G. K. Choksi & Co. issued limited review report stating nothing came to their attention causing belief that financial results contain material misstatement. Their conclusion was not modified regarding the GST matter.