Financial Results Overview
Quarter Ended September 30, 2026 (Unaudited):
- Total Revenue: ₹0 lakhs
- Total Expenses: ₹18.57 lakhs
- Loss before tax: ₹18.42 lakhs
- Loss for the period: ₹18.42 lakhs
- Basic and Diluted EPS: (₹0.14) per share
- Total Comprehensive Income: (₹17.76) lakhs
Half Year Ended September 30, 2026 (Unaudited):
- Total Revenue: ₹0 lakhs
- Total Expenses: ₹37.83 lakhs
- Loss before tax: ₹37.52 lakhs
- Loss for the period: ₹37.52 lakhs
- Basic and Diluted EPS: (₹0.28) per share
- Total Comprehensive Income: (₹44.62) lakhs
Comparative Performance
Quarterly Comparison (Q2 FY27 vs Q2 FY26):
- Loss improved from ₹29.35 lakhs (Q2 FY26) to ₹18.42 lakhs (Q2 FY27)
- Employee expenses remained stable at ₹0.60 lakhs
- Finance cost increased to ₹13.19 lakhs from ₹12.42 lakhs
- Depreciation reduced significantly to ₹1.18 lakhs from ₹8.44 lakhs
Half-Yearly Comparison (H1 FY27 vs H1 FY26):
- Loss improved from ₹58.63 lakhs (H1 FY26) to ₹37.52 lakhs (H1 FY27)
- Employee expenses remained ₹1.20 lakhs
- Finance cost increased to ₹26.14 lakhs from ₹25.09 lakhs
- Depreciation reduced to ₹2.36 lakhs from ₹16.87 lakhs
Financial Position (as of September 30, 2026)
Assets:
- Total Assets: ₹882.86 lakhs
- Non-Current Assets: ₹854.47 lakhs (mainly Property, Plant & Equipment: ₹841.98 lakhs)
- Current Assets: ₹28.40 lakhs (Cash: ₹2.43 lakhs, Other financial assets: ₹25.57 lakhs)
Liabilities and Equity:
- Total Equity: Negative ₹50.79 lakhs (Equity share capital: ₹135.92 lakhs, Other Equity: Negative ₹186.71 lakhs)
- Non-Current Liabilities: ₹840.61 lakhs (all Borrowings)
- Current Liabilities: ₹93.05 lakhs
Cash Flow Statement (Half Year Ended September 30, 2026)
- Cash from Operating Activities: ₹13.97 lakhs
- Cash from Investing Activities: ₹0 lakhs
- Cash from Financing Activities: Negative ₹12.34 lakhs
- Net increase in cash: ₹1.63 lakhs
- Cash at period end: ₹2.43 lakhs
Operational Context and Corporate History
The company is engaged in manufacturing toner and toner-related products but operations are temporarily closed since the company underwent Corporate Insolvency Resolution Process (CIRP) under IBC Act 2016 starting February 2020.
The resolution plan submitted by Surblika Steels Private Limited through Nikunj Udyog was approved by NCLT Allahabad on July 27, 2023, and NCLAT Delhi on October 15, 2024. A Monitoring Committee was constituted to oversee implementation.
On February 7, 2025, the Monitoring Committee reconstituted the Board of Directors with new directors and handed over control to the new management. Surblika Steels Private Limited and Daga Infrastructure Private Limited became the new promoters effective April 24, 2025.
Pursuant to the resolution plan implementation, 99% of the existing share capital was cancelled and extinguished on April 24, 2025. The new promoters are in the process of implementing the resolution plan and reviving operations.
Additional Information
- Paid-up equity share capital: ₹135.92 lakhs (face value ₹10 each) remained unchanged across all periods
- Company has no subsidiaries, associates, or joint ventures
- Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
- Results reviewed by Audit Committee and subjected to limited review by statutory auditors HG & Co.
- Previous year figures have been regrouped/rearranged where necessary