Key Decisions and Approvals
The Board of Directors meeting commenced at 12:45 PM and concluded at 3:55 PM on August 13, 2026. The Board inter alia considered and approved the following items:
1. Unaudited Financial Results: Approved the unaudited financial results for the quarter ended June 30, 2026, along with the Limited Review Report issued by the statutory auditors, V. Singhi & Associates.
2. Annual General Meeting: Approved holding the 19th Annual General Meeting (AGM) of the company on September 15, 2026, at 11:00 AM through video conferencing/other audio-visual means.
3. Manager Reappointment: Based on the recommendation of the Nomination and Remuneration Committee, the Board reappointed Mr. Mahendran S as Manager of the company for a term of one year, subject to approval by shareholders. The affirmation provided states he is not debarred from holding office by any SEBI order or other authority.
Detailed Financial Results (Quarter Ended June 30, 2026)
(All figures in ₹ lakhs, unless stated)
- Revenue from Operations: ₹14,827.02
- Other Income: ₹451.87
- Total Income: ₹15,278.89 (14,827.02 + 451.87)
- Total Expenses: ₹11,253.90
- Cost of Materials Consumed: ₹322.27
- Employee Benefits Expense: ₹2,301.13
- Finance Costs: ₹322.19
- Depreciation and Amortisation: ₹391.33
- Other Expenses: ₹7,916.98
- Profit Before Tax (PBT): ₹4,024.99 (15,278.89 - 11,253.90)
- Tax Expense: ₹0.00 (Current Tax: ₹9.58; Deferred Tax: ₹(9.58))
- Profit After Tax (PAT): ₹4,024.99
- Other Comprehensive Income (OCI): ₹(149.31)
- Items not reclassified to P&L (net of tax): ₹11.87 (₹16.04 - ₹4.17)
- Items to be reclassified to P&L (net of tax): ₹(161.18)
- Total Comprehensive Income: ₹3,875.68
- Paid-up Equity Share Capital: ₹1,729.17 lakhs (Face Value ₹10)
- Reserves (excl. Revaluation): ₹54,997.88 lakhs
- Basic EPS: ₹23.28 (₹4.48 for Q1 FY26)
- Diluted EPS: ₹23.28 (₹4.48 for Q1 FY26)
Key Notes to Financial Results
1. The results were reviewed by the Audit Committee and approved by the Board on August 13, 2026.
2. Other Comprehensive Income includes a significant gain of ₹4,116.35 lakhs on the revaluation of the company's investment in shares of Asian Hotels (West) Limited, attributed to the revocation of a trading suspension by SEBI.
3. The results are prepared in accordance with Indian Accounting Standards (Ind AS).
4. Segment reporting is not applicable as the company is solely engaged in the Hotel Business.
5. The statutory auditor, V. Singhi & Associates, issued an unmodified limited review report on the results.
6. The company has no subsidiaries, associates, or joint ventures as of June 30, 2026; therefore, consolidated results are not required.
Manager Reappointment Details (Annexure 1)
- Term of Appointment: One year.
- Brief Profile: Mr. Mahendran S has 17 years of experience in Finance Management. His skills include managing financial assets, developing budgets and financial plans, conducting audits, and developing strategies for financial success. He is specialized in analyzing and evaluating performance, monitoring capital expenditure, and ensuring financial performance goals are met.
- Relationship with Directors: Not Applicable.
Auditor's Limited Review Report
V. Singhi & Associates (Firm Regn. No.: 311017E) issued an independent limited review report. The review was conducted in accordance with Standard on Review Engagement (SRE) 2410 and applicable SEBI regulations. Based on their review, nothing came to their attention causing them to believe the unaudited financial results contain any material misstatement or fail to disclose information required by Regulation 33.