Date: August 10, 2026

Board Meeting Outcomes

  • The Board of Directors meeting was held on Monday, August 10, 2026 from 5:30 P.M. to 7:30 P.M. through video conferencing
  • The Board approved and adopted the Audited Financial Statements (Consolidated and Standalone) for the financial year ended March 31, 2026
  • The Board approved and adopted the Audited Financial Results (Consolidated and Standalone) for the quarter/year ended March 31, 2026
  • Appointment of Mrs. Jeevan Jyoti Volla as Independent Director of the Company
  • Appointment of Internal Auditor of the Company
  • Appointment of Cost Auditor of the Company

KMP / Board / Auditor Changes

Appointment of Independent Director

  • Name: Mrs. Jeevan Jyoti Volla (DIN: 06947040)
  • Designation: Independent Director
  • Type of change: Appointment
  • Effective date: August 10, 2026
  • Term: First term subject to approval of shareholders, for 5 consecutive years from August 10, 2026 to August 9, 2031 (both days inclusive)
  • Relationship with other directors: Not related to any of the Directors of the Company
  • Compliance: Not debarred from holding office of Director by virtue of any SEBI Order

Auditor Information

  • Statutory Auditors: M/s. SARC & Associates, Chartered Accountants (FRN: 006085N)
  • Audit Opinion: Unmodified opinion on Audited Financial Results for half year and year ended March 31, 2026

Financial Results (Standalone)

Statement of Profit and Loss (Rupees in lacs)

| Period | Revenue from Contracts | Other Income | Total Income | Total Expenses | Profit/(Loss) before Tax | Tax Expense | Net Profit/(Loss) | EPS (Basic) |

| Q4 FY2026 | 4,041.48 | 195.77 | 4,237.25 | 9,896.39 | (5,659.14) | (1,510.71) | (4,148.43) | (16.17) |

| FY2026 | 18,017.32 | 595.31 | 18,612.63 | 23,353.63 | (4,741.00) | (1,270.04) | (3,470.97) | (13.53) |

| FY2025 | 39,901.82 | 685.00 | 40,586.82 | 37,590.45 | 2,996.37 | 993.30 | 2,003.07 | 8.35 |

Standalone Balance Sheet (Rupees in lacs)

| Particulars | March 31, 2026 | March 31, 2025 |

| Total Assets | 55,015.43 | 56,914.38 |

| Non-Current Assets | 11,047.28 | 10,952.65 |

| Current Assets | 43,968.15 | 45,961.74 |

| Total Equity & Liabilities | 55,015.55 | 56,914.39 |

| Equity | 16,875.65 | 18,846.02 |

| Non-Current Liabilities | 3,040.53 | 3,022.90 |

| Current Liabilities | 35,099.37 | 35,045.47 |

Key Balance Sheet Items (Standalone)

  • Property, Plant and Equipment: ₹9,378.90 lacs (2026) vs ₹10,256.71 lacs (2025)
  • Capital Work-in-Progress: ₹566.07 lacs (2026) vs ₹688.87 lacs (2025)
  • Inventories: ₹22,427.45 lacs (2026) vs ₹19,658.04 lacs (2025)
  • Trade Receivables: ₹12,910.07 lacs (2026) vs ₹16,860.42 lacs (2025)
  • Cash and cash equivalents: ₹606.36 lacs (2026) vs ₹1,046.45 lacs (2025)
  • Borrowings (Current): ₹20,941.77 lacs (2026) vs ₹16,875.92 lacs (2025)
  • Trade Payables: ₹7,431.36 lacs (2026) vs ₹12,001.41 lacs (2025)

Financial Results (Consolidated)

Statement of Profit and Loss (Rupees in lacs)

| Period | Revenue from Operations | Other Income | Total Income | Total Expenses | Profit/(Loss) before Tax | Tax Expense | Net Profit/(Loss) | EPS (Basic) |

| Q4 FY2026 | 4,041.48 | 195.77 | 4,237.25 | 9,896.37 | (5,659.12) | (1,510.71) | (4,148.41) | (16.16) |

| FY2026 | 18,017.32 | 597.28 | 18,614.60 | 23,353.61 | (4,739.01) | (1,270.04) | (3,468.97) | (13.52) |

| FY2025 | 42,192.25 | 686.43 | 42,878.68 | 39,880.89 | 2,997.79 | 994.03 | 2,003.76 | 8.35 |

Consolidated Balance Sheet (Rupees in lacs)

| Particulars | March 31, 2026 | March 31, 2025 |

| Total Assets | 55,154.67 | 58,070.88 |

| Non-Current Assets | 11,047.28 | 10,952.65 |

| Current Assets | 44,107.39 | 47,118.23 |

| Total Equity & Liabilities | 55,154.67 | 58,070.88 |

| Equity | 16,877.65 | 18,869.03 |

| Non-Current Liabilities | 3,040.53 | 3,022.90 |

| Current Liabilities | 35,236.49 | 36,178.95 |

Key Emphasis of Matter Points

1. Maharashtra Maritime Board (MMB) Contracts: Note 10 describes developments relating to contracts with MMB, including invocation/encashment of bank guarantees aggregating to approximately ₹330 crore on April 21, 2026 (ICICI Bank), April 22, 2026 (CSB Bank), and April 24, 2026 (Bank of Baroda). The note also describes consequential accounting treatment for Work-in-Progress relating to MMB contracts amounting to approximately ₹14.15 crore.

2. Legal Proceedings: Note 8 describes legal proceedings initiated by various banks and financial institutions against the Company before the Debt Recovery Tribunal (DRT) and under Insolvency and Bankruptcy Code, 2016. The matters are presently under litigation before respective authorities.

3. Outstanding Statutory Liabilities: Note 11 describes outstanding statutory liabilities relating to TDS & TCS of ₹2.27 Crores, PF liability of ₹0.99 Crore, and GST liability of ₹24.11 Crores as at March 31, 2026, which remained unpaid beyond prescribed due dates, with consequential exposure to applicable interest, late fees, and penalties.

4. Balance Confirmations: Balance confirmations in respect of trade receivables, trade payables, and other debit and credit balances were not made available for verification.

Basis for Opinion

  • Audit conducted in accordance with Standards on Auditing (SAs)
  • Independent in accordance with ICAI's Code of Ethics
  • Audit evidence sufficient and appropriate for opinion

Other Operational Disclosures

  • The company is a single segment entity
  • The company elected to exercise option under section 115BAA of Income Tax Act, 1961
  • Figures for previous period have been regrouped/rearranged where necessary

Profile of New Independent Director

Mrs. Jeevan Jyoti Volla

  • Gender: Female
  • Age: 40
  • Address: 2309 A, Lansum Oxygen Towers KRM Colony, Seethamadara, Visakhapatnam, Andhra Pradesh, India 530013
  • Roles: Director at Vivrata Industries (Refractory Monolithics Manufacturing), Director at Jodha Consulting (Human Capability Development and Organization Development Consultancy), Founder at Magic Moments India (Professional Photography)
  • Qualifications: PG Diploma Training & Development (Indian Society of Training & Development, New Delhi), B Tech Electronics & Telecommunication (KIIT, Bhubaneswar, Odisha)
  • Certificate Courses: POSH, ISTD Suicide Prevention, Oasis Voice Modulation, Oasis TTT, ISTD National Trainer, Junior Chamber International
  • Occupation: Entrepreneur | L & OD Practitioner and Consultant | Emcee | Photography Services
  • Contact: Phone 79950 56207, Email jeevanjyotivolla@zohomail.in