Key Financial Figures

Quarterly Performance (Q4 FY26):

  • Revenue from operations: ₹0.00 lakhs
  • Other Income: ₹0.00 lakhs
  • Total Expenses: ₹83.24 lakhs
  • Employee benefits expenses: ₹1.80 lakhs
  • Finance cost: ₹38.12 lakhs
  • Depreciation and amortization expenses: ₹25.30 lakhs
  • Other expenses: ₹18.01 lakhs
  • Loss before tax: ₹(82.77) lakhs
  • Tax expenses: ₹0.00 lakhs
  • Net Loss for the quarter: ₹(82.77) lakhs
  • Earnings per share (Basic and Diluted): ₹(0.61)

Annual Performance (FY26):

  • Revenue from operations: ₹0.00 lakhs
  • Other Income: ₹569.50 lakhs
  • Total Expenses: ₹107.43 lakhs
  • Employee benefits expenses: ₹2.40 lakhs
  • Finance cost: ₹51.08 lakhs
  • Depreciation and amortization expenses: ₹33.73 lakhs
  • Other expenses: ₹20.23 lakhs
  • Loss before exceptional items: ₹(107.43) lakhs
  • Exceptional items: ₹0.62 lakhs (Depreciation on Revaluation Reserve on Building)
  • Loss before tax: ₹(106.82) lakhs
  • Tax expenses: ₹0.00 lakhs
  • Net Loss for the year: ₹(106.82) lakhs
  • Other Comprehensive Income: ₹(9.02) lakhs
  • Total Comprehensive Income: ₹(115.84) lakhs

Comparative Figures (FY25):

  • Revenue from operations: Not available
  • Other Income: ₹569.50 lakhs
  • Total Expenses: ₹304.92 lakhs
  • Profit before exceptional items: ₹264.58 lakhs
  • Exceptional items: ₹893.27 lakhs (Reversal of Provision of Doubtful Debts ₹880.19 lakhs + Reversal of Provision of diminution of Investment ₹12.46 lakhs + Depreciation on Revaluation Reserve ₹0.62 lakhs)
  • Profit before tax: ₹1,157.84 lakhs
  • Net Profit for the year: ₹1,157.84 lakhs
  • Earnings per share: ₹0.70

Balance Sheet Position (as of March 31, 2026):

  • Total Assets: ₹883.23 lakhs
  • Non-Current Assets: ₹856.83 lakhs (Property, Plant and Equipment: ₹844.34 lakhs)
  • Current Assets: ₹26.40 lakhs (Cash and cash equivalents: ₹0.81 lakhs)
  • Equity: ₹(12.96) lakhs
  • Equity share capital: ₹135.92 lakhs (Face Value ₹10 each)
  • Other Equity: ₹(148.88) lakhs
  • Liabilities: ₹896.19 lakhs
  • Non-Current Liabilities: ₹826.81 lakhs (Borrowings)
  • Current Liabilities: ₹69.39 lakhs

Corporate Insolvency Resolution Process (CIRP) Context:

The company underwent Corporate Insolvency Resolution Process (CIRP) since February 2020. The resolution plan submitted by M/s Surbhika Steels Private Limited through its unit Nikunj Udyog was approved by the National Company Law Tribunal, Allahabad Bench vide order dated July 27, 2023, read with NCLAT, Delhi order dated October 15, 2024.

After settling all claims as per the approved Resolution Plan, the Monitoring Committee reconstituted the Board of Directors on February 7, 2025, with all new directors and handed over control to new management effective from February 7, 2025.

Surbhika Steels Private Limited and Daga Infrastructure Private Limited are the new Promoters of the Company effective from April 24, 2025. They were allotted 203,877 and 990,913 shares respectively at face value of ₹10/- each.

Operational Status:

The new management has started complying with statutory requirements, but quarterly results for the quarter ended March 31, 2025 are not available. Operations of the Company are still to be revived as new promoters are in the process of implementing the Resolution Plan.