Detailed Summary

Compliance Issue Clarification

The Company submitted a clarification regarding discrepancy observed by the Exchange concerning submission of Standalone Financial Results in XBRL mode but not in PDF mode. The omission was purely inadvertent and unintentional, occurring during electronic compilation and uploading of PDF attachments on the BSE Listing Centre where a few pages of the standalone quarterly financial results were inadvertently omitted due to document collation/attachment oversight.

The Company confirmed that there was no change whatsoever in the financial figures already submitted in XBRL format. The omission was confined only to the attachment of certain pages in the PDF submission and did not affect the accuracy, completeness or authenticity of the financial results approved by the Board.

Upon identification of the omission, the Company immediately initiated corrective action and re-submitted the complete set of Standalone Financial Results for the quarter and financial year ended March 31, 2026 in PDF format.

Board Meeting Outcomes (May 30, 2026)

The Board of Directors meeting held on Saturday, May 30, 2026 at the Registered Office of the Company approved the following business items:

1. Approved the Audited Financial Results (Standalone) for the quarter and year ended March 31, 2026, as recommended by the Audit Committee together with the Report of Auditors on the said records.

2. Mr. Gopal M. Choudhary re-appointed as Internal Auditor of the Company for the Financial Year 2026-27.

The meeting commenced at 2:15 PM and concluded at 3:00 PM.

Financial Results Overview

Standalone Financial Results for Year Ended March 31, 2026:

  • Total Income: ₹689.715 lakhs (Previous year: ₹635.265 lakhs)
  • Revenue from Operations: ₹686.392 lakhs (Previous year: ₹632.147 lakhs)
  • Other Income: ₹3.323 lakhs (Previous year: ₹3.118 lakhs)
  • Total Expenses: ₹540.304 lakhs (Previous year: ₹354.390 lakhs)
  • Profit Before Tax: ₹149.411 lakhs (Previous year: ₹280.875 lakhs)
  • Tax Expense: (₹7.991) lakhs deferred tax (Previous year: ₹0.000)
  • Profit After Tax: ₹157.403 lakhs (Previous year: ₹280.875 lakhs)
  • Earnings Per Share: ₹2.19 (Previous year: ₹3.91)

Segment-wise Performance:

Real Estate Development Segment:

  • Revenue: ₹686.392 lakhs
  • Profit before tax: ₹371.431 lakhs

Paper Manufacturing Segment:

  • Revenue: ₹0.000 lakhs (discontinued operations)
  • Other Income: ₹3.323 lakhs
  • Loss before tax: (₹222.020) lakhs

Balance Sheet Position (as at March 31, 2026)

Assets:

  • Total Assets: ₹1197.317 lakhs (Previous year: ₹1252.919 lakhs)
  • Non-current Assets: ₹324.392 lakhs (including Property, Plant & Equipment: ₹0.723 lakhs)
  • Current Assets: ₹1137.325 lakhs (including Inventories: ₹705.372 lakhs, Trade Receivables: ₹174.022 lakhs, Cash & Cash Equivalents: ₹56.767 lakhs)

Equity and Liabilities:

  • Equity Share Capital: ₹718.520 lakhs (71,85,200 equity shares of ₹10 each)
  • Other Equity: (₹1537.846) lakhs
  • Total Equity: (₹819.326) lakhs
  • Non-current Liabilities: ₹195.552 lakhs (Unsecured Loans)
  • Current Liabilities: ₹1821.091 lakhs (including Trade Payables: ₹593.913 lakhs, Other Current Liabilities: ₹1227.179 lakhs)

Significant Accounting Policies

The Company has discontinued its paper manufacturing business and is now engaged in real estate development. The factory land has been converted into stock-in-trade for real estate development. Expenses incurred on development along with cost of land are shown as work-in-progress under Inventories.

The Company has entered into a Memorandum of Understanding with Navbharat Infraventures Pvt. Ltd. (a subsidiary company of Navbharat Press Ltd.) for sharing revenue on sale of plots of land in consideration of providing financial support, design, development, marketing and execution of Real Estate Development Project.

Related Party Transactions

  • Sales to Navabharat Press, Nagpur: ₹0.00 lakhs (Previous year: ₹15.396 lakhs)
  • Remuneration to Whole-time Director Shri Manoj Sinha: ₹7.200 lakhs
  • Revenue sharing with Navabharat Infraventures Pvt Ltd: ₹540.290 lakhs for sale of plots
  • Sale of 1.42 HR of land to Mr. Raghav Maheshwari (relative of Directors): ₹161.210 lakhs

Capital Structure

  • Authorized Share Capital: 78,00,000 Equity Shares of ₹10 each
  • Issued, Subscribed and Paid-up Capital: 71,85,200 Equity Shares of ₹10 each fully paid up
  • Major shareholders (holding more than 5%): Shri Vinod Maheshwari, Smt. Shriranga Vinod Maheshwari, Shri Nimish V Maheshwari, Navabharat Real Estate Pvt. Ltd., Navabharat Press (Nagpur) Pvt. Ltd.

Cash Flow Statement

  • Cash flow from operating activities: ₹963.463 lakhs
  • Cash flow from investing activities: ₹53.323 lakhs
  • Cash flow from financing activities: (₹988.790) lakhs
  • Net increase in cash & cash equivalents: ₹27.996 lakhs
  • Closing cash & cash equivalents: ₹107.111 lakhs