Financial Performance Summary (Year Ended 31st March 2026)

  • Total Income: ₹114.50 Lakhs (Previous Year: ₹91.60 Lakhs)
  • Total Expense: ₹253.43 Lakhs (Previous Year: ₹239.06 Lakhs)
  • Loss Before Tax: ₹(138.93) Lakhs (Previous Year Loss: ₹(147.46) Lakhs)
  • Net Loss After Tax (Continuing Operations): ₹(101.49) Lakhs (Previous Year Loss: ₹(86.37) Lakhs)
  • Net Loss After Tax (Total): ₹(101.49) Lakhs (Previous Year Loss: ₹(110.90) Lakhs)
  • Earnings Per Share - Basic/Diluted (Continuing): ₹(3.02) (Previous Year: ₹(2.57))
  • Paid-Up Equity Share Capital: ₹336.16 Lakhs (Unchanged from previous year)

Quarterly Financial Performance

  • Q4 FY26 (Audited): Total Income: ₹50.02 Lakhs; Net Loss: ₹(14.41) Lakhs; EPS: ₹(0.43)
  • Q3 FY26 (Unaudited): Total Income: ₹20.51 Lakhs; Net Loss: ₹(29.32) Lakhs; EPS: ₹(0.87)
  • Q4 FY25 (Audited): Total Income: ₹20.90 Lakhs; Net Loss: ₹(31.29) Lakhs; EPS: ₹(0.93)

Key Balance Sheet Figures (As at 31st March 2026)

  • Total Assets: ₹2,547.93 Lakhs (Previous Year: ₹2,645.40 Lakhs)
  • Total Equity: ₹1,412.49 Lakhs (Previous Year: ₹1,513.73 Lakhs)
  • Total Liabilities: ₹1,135.44 Lakhs (Previous Year: ₹1,131.67 Lakhs)
  • Cash and Cash Equivalents: ₹49.69 Lakhs (Previous Year: ₹155.34 Lakhs)
  • Deferred Tax Assets (Net): ₹650.76 Lakhs (Previous Year: ₹609.57 Lakhs)

Basis for Qualified Audit Opinion

The independent auditors, S. R. Goyal & Co., issued a qualified opinion based on four matters:

1. MSMED Interest: Interest payable under Section 16 of the MSMED Act, 2006 on overdue trade payables to micro and small enterprises has not been ascertained or provided for. (Note III)

2. Related Party Loans: Loans & Advances include ₹230.50 Lakhs receivable from related parties. In the absence of any agreement and repayment terms, the auditors are unable to comment on recoverability. (Note IV)

3. Unconfirmed Balances: Balances of Trade payables, Financial Assets (including employee's advances), Advances to suppliers, Loans given, interest receivable on loans, and Unsecured Loans taken are subject to confirmation and consequential adjustments. (Note V)

4. Deferred Tax Assets: The company recognized deferred tax assets of ₹650.76 Lakhs as of 31st March 2026, based on expected future taxable profits. Given the company's history of losses and lack of an operational segment, the auditors are unable to comment on any adjustments required to the carrying value. (Note VI)

The management has not ascertained the financial impact of the first two qualifications.

Material Uncertainty Related to Going Concern

The auditors draw attention to a material uncertainty regarding the company's ability to continue as a going concern. The company has closed its manufacturing operations due to unsatisfactory performance and continued operational losses. The plant and machinery have been disposed of in one or more tranches. The Board of Directors has accorded consent to appoint a consultant for setting up a new project, and consequently, the financial statements have been prepared on a going concern basis.

Management's Statement on Impact of Audit Qualifications

  • Frequency of Qualification: Repetitive
  • Type of Audit Qualification: Qualified Opinion
  • Management's Estimate on Impact: Unable to estimate for all qualifications.
  • Management's Views:
  • For MSME interest (Qualification i), management states payments are made per contractual terms, hence no interest has been paid for late payment.
  • For unconfirmed balances (Qualification ii & iii), the company is in the process of obtaining confirmations.
  • For the related party loan (Qualification ii), the advance is stated as temporary and repayable on demand, though no formal agreement exists. The company is in the process of recovery.
  • For deferred tax assets (Qualification iv), the company is in the process of appointing a consultant for a new business and is hopeful to set off deferred tax assets against future taxable income.

Signatories and Authorizations

The results were approved by the Board of Directors. The filing is signed by Neha Dusad, Company Secretary and Compliance Officer. The audit report is signed by A.K. Atolia (Partner) for S. R. Goyal & Co. (FR No. 001537C). The financial statements are signed by Avinash Bajoria (Chairman cum Managing Director, DIN: 01402573). The Statement on Impact of Audit Qualifications is also signed by Ram Awtar Sharma (CFO) and Girdhari Lal Sharma (Chairman of Audit Committee, DIN: 00136223).