Document Title:
Unaudited Financial Results for Q2 and H1 FY27 with Qualified Audit Opinion
Summary of Key Information:
Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Date of Board Meeting / Approval: November 14, 2026 (IST 3:30 PM to 4:15 PM)
Audit Opinion: Qualified Opinion
Auditor’s Comment: The audit opinion is qualified due to demands raised by GST Authorities (₹290.70 crores) and Income Tax Authorities (₹10.68 crores). The management has filed appeals and believes no provision is required. The auditor is unable to comment on the ultimate outcome and its impact on the financial results.
Key Financial Highlights [Amount in INR Lakhs]
Standalone Results:
Quarter Ended 30.09.2026:
Revenue from Operations: ₹811 (YoY: Down from ₹7,116 in Q2 FY26)
Total Income: ₹822
Net Profit: (₹3) Loss
EPS: ₹0.00
Half Year Ended 30.09.2026:
Revenue from Operations: ₹6,006 (YoY: Down from ₹14,504 in H1 FY26)
Total Income: ₹6,083
Net Profit: ₹36 (YoY: Improvement from a loss of ₹196 in H1 FY26)
EPS: ₹0.02
Key Balance Sheet Items as at September 30, 2026:
Paid up Equity Share Capital: ₹2,765
Other Equity: ₹2,913
Cash and Cash Equivalents: ₹8
Debt: Borrowings (Non-Current: ₹959, Current: ₹234) | Total Debt: ₹1,193
Total Assets: ₹11,033
Total Liabilities: ₹5,355
Consolidated Results:
Not Applicable. The company has no subsidiary, associate, or joint venture; therefore, it has prepared only standalone results.
Segment-wise Performance:
The company has identified "Manufacturing and trading of Copper Wires" as its single operating segment.
Corporate Actions:
Not Specified
Regulatory Disclosures:
The financial results are accompanied by a Limited Review Report from the auditor, Krishna & Associates (FRN: 013169C), which contains a qualified opinion.
A significant disclosure relates to proceedings by GST and Income Tax authorities:
- GST Demand: ₹290.70 crores (including interest and penalty) for alleged ineligible input tax credit. An appeal has been filed.
- Income Tax Demand: ₹10.68 crores. An appeal has been filed.
Management believes these demands will not crystallize and thus no provision has been made.
Other Significant Information:
An exceptional item of ₹4 lakhs was recorded in the previous financial year (FY 2025-26) due to a reassessment of employee benefit obligations following the notification of 'New Labour Codes'.
The figures of the previous periods have been regrouped/rearranged and/or recast wherever found necessary to make them comparable.