The board approved the following documents:

  • Audited Financial Statements including Balance Sheet as at March 31, 2026
  • Statement of Profit and Loss for the Financial Year ended March 31, 2026
  • Cash Flow Statement and notes thereon for the Financial Year ended March 31, 2026
  • Audit Report as on March 31, 2026
  • Audited Financial Results for the quarter and financial year ended March 31, 2026

The board affirmed their satisfaction over the financial statements and results of the Company.

Financial Results Highlights (Amount in ₹ lakhs, except per share data)

Quarter Ended March 31, 2026:

  • Revenue from Operations: ₹144.48
  • Other Income: ₹0.03
  • Total Income: ₹144.51
  • Total Expenses: ₹170.04
  • Loss before tax: ₹(24.55)
  • Tax Expense: ₹0.04 (Prior period)
  • Loss for the period: ₹(24.51)
  • Other Comprehensive Income: ₹0.08
  • Total Comprehensive Income: ₹(24.43)
  • Basic EPS: ₹(0.02)

Financial Year Ended March 31, 2026:

  • Revenue from Operations: ₹562.91
  • Other Income: ₹0.03
  • Total Income: ₹562.94
  • Total Expenses: ₹568.62
  • Loss before tax: ₹(5.68)
  • Tax Expense: ₹0.04 (Prior period)
  • Loss for the period: ₹(5.64)
  • Other Comprehensive Income: ₹0.30
  • Total Comprehensive Income: ₹(5.34)
  • Basic EPS: ₹(0.01)

Comparative Figures (Year Ended March 31, 2025):

  • Revenue from Operations: ₹143.00
  • Loss for the period: ₹(96.06)
  • Total Comprehensive Income: ₹(96.14)
  • Basic EPS: ₹(0.10)

Balance Sheet Position as at March 31, 2026 (₹ in lakhs)

Assets:

  • Non-Current Assets: ₹509.66
  • Property, plant and equipment: ₹509.57
  • Financial assets - Deposits: ₹0.01
  • Non-current tax assets: ₹0.08
  • Current Assets: ₹60.33
  • Inventories: ₹51.82
  • Trade receivables: ₹0.00
  • Cash and cash equivalents: ₹7.03
  • Financial Assets - Others: ₹0.00
  • Other current assets: ₹1.48
  • Total Assets: ₹569.99

Equity and Liabilities:

  • Equity: ₹(3,172.46)
  • Equity share capital: ₹9,827.92
  • Other equity: ₹(13,000.38)
  • Non-current liabilities: ₹4.56
  • Provisions: ₹4.56
  • Current liabilities: ₹3,737.89
  • Financial liabilities - Borrowings: ₹3,687.45
  • Trade payables: ₹13.39
  • Other financial liabilities: ₹34.00
  • Provisions: ₹1.36
  • Other current liabilities: ₹1.69
  • Total Liabilities: ₹3,742.45

Cash Flow Statement for Year Ended March 31, 2026 (₹ in lakhs)

  • Cash flow from operating activities: ₹68.18
  • Cash flow from investing activities: ₹0.00
  • Cash flow from financing activities: ₹(118.49)
  • Net decrease in cash and cash equivalents: ₹(50.31)
  • Cash and cash equivalents at beginning: ₹57.34
  • Cash and cash equivalents at end: ₹7.03

Notes to Financial Results

1. The results were reviewed by the Audit Committee and approved by the Board of Directors on May 25, 2026.

2. The Company operates in a single segment - vitrified tiles.

3. The company provided a sum of ₹0.98 lakhs towards increased cost of benefits under the newly notified Code on Social Security, 2020.

4. Deferred tax asset as at March 31, 2026 has not been accrued as a matter of prudence.

5. The figures for quarters ended March 31, 2026 and March 31, 2025 are balancing figures between audited full-year figures and published unaudited figures up to the third quarter.

Trading Window Closure

In terms of the Company's Code of Conduct for Prohibition of Insider Trading and pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for trading in securities of the Company will open on Wednesday, May 27, 2026.

Impact of Audit Qualifications

Management stated that they are unable to estimate the impact of the audit qualification regarding going concern. The issue of negative operating cash flows and operating losses are being addressed through proposed restructuring of operations and merger with another company, which is pending requisite approvals.

The auditors reviewed management's estimation and stated they have no further comments.