Board Meeting Outcomes

The Board of Directors meeting commenced at 4:45 PM and concluded at 6:00 PM on August 11, 2026. The following business was transacted:

  • Appointment of Mrs. Razia Bashir Mujawar as the Company Secretary and Compliance Officer of the Company
  • Review and approval of Un-audited Financial Results for quarter ended June 30, 2026, along with Limited Review Report from Statutory Auditors
  • Approval of M/s. GIRISH MURARKA & CO as Secretarial Auditor for financial year 2026-27
  • Decision to convene 33rd Annual General Meeting on Wednesday, 30th September, 2026
  • Provision of e-voting facility for AGM resolutions with cutoff date of September 23, 2026, and voting period from September 27, 2026 (9:00 AM IST) to September 29, 2026 (5:00 PM IST)
  • Appointment of Mr. Girish Murarka (Practicing Company Secretary, COP 4567) as Scrutinizer for physical and remote e-voting
  • Constitution of internal team as Internal Auditor for financial year 2026-27

Financial Results for Quarter Ended June 30, 2026

Standalone Unaudited Financial Results (Rs. in Lakhs):

  • Revenue from operations: ₹0.00
  • Other Income: ₹0.00
  • Total Income: ₹0.00
  • Expenses: ₹7.04
  • Changes in Inventories: ₹5.30
  • Employee benefits expense: ₹0.00
  • Other expenses: ₹1.74
  • Profit/(Loss) before tax: (₹7.04)
  • Tax expense: ₹0.00 (Current Tax: ₹0.00, Deferred Tax: ₹0.00)
  • Profit/(Loss) from continuing operations: (₹7.04)
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income for the period: (₹7.04)
  • Equity Share Capital: ₹300.00 (Face Value ₹10 per share)
  • Earnings per equity share (Basic): (₹0.23)
  • Earnings per equity share (Diluted): (₹0.23)

Comparative Figures:

  • Quarter ended March 31, 2026: Net loss of ₹10.59 lakh
  • Quarter ended June 30, 2025: Net loss of ₹5.99 lakh
  • Year ended March 31, 2026: Net loss of ₹30.72 lakh

Auditor's Emphasis of Matter

Statutory Auditor B.L. Dasharda & Associates (FR No.: 112615W) issued a qualified review report emphasizing that:

  • Fixed Assets (Land, Building, Plant & Machinery, Electrical Installation) worth ₹52,35,848 were taken over by Maharashtra State Financial Corporation (MSFC) pursuant to their letter dated 18th November, 1998 under Section 29 of State Financial Corporations Act, 1951
  • Company ceased to be owner of these assets but has not written them off in books
  • Secured loans outstanding: MSFC - ₹1,03,76,328; SICOM Ltd - ₹16,24,436 as of June 30, 2026
  • Net amount payable to MSFC and SICOM after adjusting fixed asset value is not ascertainable due to absence of relevant data
  • This creates material uncertainty that could significantly impact the financial position

Additional Notes

  • Company operates in a single segment only
  • No provision for current and deferred tax made due to carry forward losses
  • Previous quarter/year figures have been regrouped/reworked/rearranged where necessary
  • Figures for quarter ended March 31, 2026 are balancing figures between audited full year and reviewed year-to-date figures

Authorization and Compliance

  • Financial results prepared in accordance with Ind AS 34, Companies Act 2013, and SEBI (LODR) Regulations 2015
  • Results reviewed by Audit Committee and approved by Board of Directors
  • Mr. Manish Shah (Executive Director, DIN: 00434171) authorized to sign financial results
  • Mr. Anil Nate (PAN: ATXPN2639Q) authorized to certify board resolution