Board Meeting Details

The Board of Directors meeting was held on October 28, 2026, at the company's registered office in Ahmedabad. The meeting commenced at 5:30 PM and concluded at 6:30 PM.

Key Board Approvals

1. Considered and approved the Standalone Unaudited Financial Results of the Company for the quarter ended September 30, 2026, along with the Auditors' Limited Review Report, in accordance with Regulation 33 of the SEBI Listing Regulations.

2. Reviewed the other businesses of the company.

Financial Performance (Quarter Ended September 30, 2026)

  • Revenue from Operations: ₹0.00 lakh (Previous quarter: ₹0.00 lakh; Year-ago quarter: ₹0.00 lakh)
  • Other Income: ₹0.00 lakh (Previous quarter: ₹0.00 lakh; Year-ago quarter: ₹0.00 lakh)
  • Total Revenue: ₹0.00 lakh (Previous quarter: ₹0.00 lakh; Year-ago quarter: ₹0.00 lakh)
  • Total Expenses: ₹1.47 lakh, comprising:
  • Employee benefits expense: ₹0.60 lakh
  • Other expenses: ₹0.87 lakh
  • Net Loss: ₹1.47 lakh (Previous quarter loss: ₹4.85 lakh; Year-ago quarter loss: ₹1.89 lakh)
  • Earnings Per Share (Basic & Diluted): -₹0.05

Financial Performance (Half Year Ended September 30, 2026)

  • Revenue from Operations: ₹0.00 lakh (Previous half-year: ₹0.00 lakh)
  • Other Income: ₹0.00 lakh (Previous half-year: ₹0.00 lakh)
  • Total Revenue: ₹0.00 lakh (Previous half-year: ₹0.00 lakh)
  • Total Expenses: ₹6.32 lakh, comprising:
  • Employee benefits expense: ₹1.40 lakh
  • Other expenses: ₹4.92 lakh
  • Net Loss: ₹6.32 lakh (Previous half-year loss: ₹7.79 lakh)
  • Earnings Per Share (Basic & Diluted): -₹0.59

Balance Sheet Position (As of September 30, 2026)

  • Total Assets: ₹265.82 lakh (March 31, 2026: ₹114.80 lakh)
  • Non-Current Assets: ₹259.09 lakh (primarily Other Non-Current Assets)
  • Current Assets: ₹6.73 lakh, comprising:
  • Cash and Cash Equivalents: ₹0.37 lakh (March 31, 2026: ₹25.32 lakh)
  • Loans and Advances: ₹0.31 lakh
  • Other Current Assets: ₹6.06 lakh
  • Equity: ₹0.29 lakh (March 31, 2026: -₹150.90 lakh)
  • Equity Share Capital: ₹307.32 lakh (Face value ₹10 each; March 31, 2026: ₹107.32 lakh)
  • Money received against share warrants: ₹52.50 lakh (March 31, 2026: ₹105.00 lakh)
  • Other Equity: -₹359.54 lakh (March 31, 2026: -₹363.21 lakh)
  • Current Liabilities: ₹265.54 lakh (March 31, 2026: ₹265.70 lakh)
  • Borrowings: ₹265.52 lakh
  • Other Current Liabilities: ₹0.02 lakh

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net Cash Used in Operating Activities: -₹182.46 lakh
  • Net Cash from Financing Activities: ₹157.51 lakh, primarily from:
  • Proceeds from Issue of Shares: ₹157.50 lakh
  • Proceeds from Short Term Borrowings: ₹0.01 lakh
  • Net Decrease in Cash and Cash Equivalents: -₹24.95 lakh
  • Cash and Cash Equivalents at End of Period: ₹0.37 lakh

Capital Reduction Scheme

The company implemented a Scheme of Capital Reduction approved by the Hon'ble NCLT, Ahmedabad on June 23, 2025, and allotted shares pursuant to the scheme on July 9, 2025.

  • The scheme provided for a 90% reduction in equity share capital to write off accumulated losses of ₹9,65,90,450 as of March 31, 2023.
  • The issued, subscribed, and paid-up share capital was reduced from ₹10,73,22,720 (1,07,32,272 equity shares of ₹10 each) to ₹1,07,32,270 (10,73,227 equity shares of ₹10 each).
  • The record date for the reduction was fixed as July 5, 2025.

Auditor's Review Report

P H Shah & Co., Chartered Accountants, issued an independent auditor's review report on the unaudited financial results. Based on their review conducted in accordance with SRE 2410, nothing came to their attention that causes them to believe that the statement contains any material misstatement or has not disclosed the information required by Regulation 33 of SEBI LODR Regulations.

Additional Notes

  • The company has only one business segment, so segment-wise disclosure is not applicable.
  • Previous quarter's figures have been re-grouped/re-arranged wherever necessary.
  • The financial results for the quarter and half year are not indicative of the full year's performance due to seasonality of the business.
  • The financial results have been prepared in accordance with Ind AS 34.