Increased from ₹31.50 lakhs in previous periods due to preferential allotment
Preferential allotment: 48,50,000 equity shares to non-promoter investors completed in April 2026
Subscription amount: ₹4,85,00,000 received (₹1,50,00,000 on 18th April 2026 and ₹3,35,00,000 on 20th April 2026)
Auditor Resignation and Appointment
Resignation of Statutory Auditor
Outgoing Auditor: M/s. Jain Jagawat Kamdar & Co (FRN: 122530W)
Effective Date: 14th November, 2026 (close of business hours)
Reason: Professional commitments and resource allocation requirements of the firm
Last reports issued: Limited review report for Q2/H1 FY26 on 14th November, 2026; Audit report for FY25-26 on 28th May, 2026
Confirmation: No disagreement with management/Board, no concerns about financial statements, accounting practices, internal controls or financial reporting
Appointment of New Statutory Auditor
Incoming Auditor: M/s. S K B J P & Co (FRN: 122832W)
Effective Date: 15th November, 2026 (subject to shareholder approval)
Term: To fill casual vacancy until conclusion of ensuing Annual General Meeting
Basis: Section 139(8) of Companies Act, 2013
Consent: Auditor has provided consent and confirmed eligibility under Section 141 of Companies Act, 2013
Emphasis of Matter Notes from Limited Review Report
Note 5: Preference Share Redemption
Company redeemed 12% Redeemable Non-Cumulative Preference Shares issued to promoters
Originally due for redemption in October 2024
Payment of ₹47.00 lakhs made towards liability component settlement
Equity component of ₹4.29 lakhs transferred to retained earnings under Other Equity
Note 6: NSE Outstanding Dues
As at 31 March 2026: NSE financial status report showed outstanding dues of ₹28.39 lakhs
₹3.69 lakhs reversed/adjusted by company after reconciliation
₹22.50 lakhs paid on 06 May 2026 against NSE notice dated 04 May 2026
Outstanding dues adjusted based on latest financial status report
Note 7: System Limitations
Company lacks appropriate system for obtaining confirmations and performing reconciliations of balances of deposits, advances, and other receivables/payables
Absence of sufficient appropriate audit evidence - unable to determine possible impact on financial results
Note 8: MSME Classification
Trade payables classified into MSME and others based solely on management's assessment
No audit evidence provided for classification
Unable to comment on accuracy and completeness of classification and potential impact
Balance Sheet Position (as at 30th September, 2026)
Total Assets: ₹604.37 lakhs (Previous: ₹230.53 lakhs)
Non-current assets: ₹121.93 lakhs
Current assets: ₹482.44 lakhs (including Inventories: ₹422.82 lakhs)
Total Equity: ₹599.10 lakhs (Share Capital: ₹800.00 lakhs; Other Equity: (₹200.90) lakhs)
Current liabilities: ₹5.27 lakhs
Cash Flow Statement (H1 FY27)
Net cash from operating activities: (₹433.16) lakhs
Net cash used in investing activities: (₹0.31) lakhs
Net cash from financing activities: ₹438.00 lakhs (mainly from share issue: ₹485.00 lakhs; preference share redemption: ₹47.00 lakhs)
