Board Meeting Details
The Board meeting commenced at 04:00 p.m. and concluded at 05:00 p.m. on November 13, 2026.
Matters Approved by the Board
1. Standalone Unaudited Financial Results for the half year ended September 30, 2026.
2. Declaration in respect of un-modified opinion on Unaudited Financial Results for the half year ended September 30, 2026, in compliance with Regulation 33 of Listing Regulations.
Documents Enclosed with the Filing
1. Copy of the Unaudited Financial Results for the half year ended September 30, 2026 along with Limited Review Report from Statutory Auditors.
2. Declaration in respect of un-modified opinion on Unaudited Financial Results.
3. Declaration in respect of non-applicability of Related Party Transactions.
4. Statement of Deviation or Variation for proceeds of public issue as on September 30, 2026 (Regulation 32).
Trading Window Closure Details
The trading window was closed from October 1, 2026, to November 15, 2026, for the declaration of unaudited financial results for the half year ended September 30, 2026.
Financial Results Overview (Half Year Ended September 30, 2026)
Income Statement Highlights (Amounts in ₹ Lakhs):
- Revenue from Operations: ₹1,195.04 (Unaudited)
- Other Income: ₹0.00
- Total Revenue: ₹1,195.04
- Total Expenses: ₹1,154.39 (including Freight, handling and servicing costs: ₹1,065.21; Employee benefits: ₹49.74; Finance costs: ₹2.08; Depreciation: ₹11.95; Other expenses: ₹25.31)
- Profit Before Tax: ₹40.75
- Tax Expenses: ₹19.48 (Current Tax: ₹15.40; Deferred Tax: ₹7.94; Income tax earlier years: ₹0.00)
- Profit for the Period: ₹30.37
- Earnings Per Share (Basic and Diluted): ₹0.25 (Face Value: ₹10 per share)
Balance Sheet Highlights (As of September 30, 2026, Amounts in ₹ Lakhs):
- Share Capital: ₹307.07
- Reserves and Surplus: ₹969.38
- Total Equity: ₹1,276.44
- Total Liabilities: ₹1,505.38
- Total Assets: ₹1,505.38
- Trade Receivables: ₹1,118.19
- Cash and Cash Equivalents: ₹278.26
Comparative Figures:
- Half Year Ended September 30, 2025: Profit of ₹(6.73) lakhs
- Year Ended March 31, 2026: Profit of ₹77.71 lakhs
Limited Review Report by Statutory Auditors
K. K. Jhunjhunwala & Co., Chartered Accountants, issued a limited review report with an unmodified opinion. The review was conducted in accordance with SRE 2410. The report noted that:
- The company has given advances to a related party, M/s Alif Air Freight Services, with an outstanding balance of ₹220.30 lakhs as of September 30, 2026.
- Management assessed that this advance is proposed to be adjusted against future supply of services and is not expected to have any material adverse impact.
- The auditors' conclusion is not modified regarding this matter.
Declaration of Unmodified Opinion
A separate declaration confirmed that the statutory auditors issued a limited review report with an unmodified opinion on the unaudited financial results for the half year ended September 30, 2026.
Non-Applicability of Related Party Transaction Disclosures
The company declared that as it is listed on the SME Platform of BSE Limited, the provisions of Regulation 23(9) regarding disclosures of Related Party Transactions are not applicable for the half year ended September 30, 2026.
Statement of Deviation or Variation in IPO Proceeds Utilization
The company reported no deviation or variation in the use of funds raised through its SME IPO (allotment date: December 21, 2023; listing date: December 26, 2023; amount raised: ₹688.176 lakhs). The utilization as of September 30, 2026, was as follows:
- Funding capital expenditure: ₹0.50 lakhs utilized against ₹32.68 lakhs allocated
- Funding working capital requirements: ₹483.70 lakhs utilized against ₹483.70 lakhs allocated
- General corporate purposes: ₹80.00 lakhs utilized against ₹80.00 lakhs allocated
- Issue expenses: ₹91.80 lakhs utilized against ₹91.80 lakhs allocated
The audit committee and auditors had no comments on the utilization.
Additional Notes to Financial Results
1. The financial results were reviewed by the Audit Committee and approved by the Board on November 13, 2026.
2. Prepared in accordance with Accounting Standard 25 and relevant provisions of the Companies Act, 2013.
3. The company operates in a single reportable segment: freight forwarding & warehousing services.
4. Previous periods' figures have been regrouped/reclassified where necessary.