Board Meeting Details
The Board of Directors meeting was held on October 30, 2026, commencing at 15:30 Hrs and concluding at 17:10 Hrs. The meeting reviewed and approved the unaudited Financial Results (Standalone and Consolidated) for the quarter ended September 30, 2026.
Standalone Financial Performance (Quarter Ended September 30, 2026)
- Total Income: ₹6 lakh (compared to ₹990 lakh in corresponding quarter previous year)
- Revenue from Operations: ₹4 lakh (compared to ₹885 lakh in corresponding quarter previous year)
- Other Income, net: ₹2 lakh (compared to ₹105 lakh in corresponding quarter previous year)
- Total Expenses: ₹416 lakh (compared to ₹376 lakh in corresponding quarter previous year)
- Loss before exceptional items and tax: ₹(410) lakh (compared to profit of ₹614 lakh in corresponding quarter previous year)
- Exceptional items, net - Income/(Expense): ₹37 lakh income
- Loss before tax: ₹(373) lakh (compared to profit of ₹3,654 lakh in corresponding quarter previous year)
- Tax expenses: Nil
- Loss after tax: ₹(373) lakh (compared to profit of ₹3,654 lakh in corresponding quarter previous year)
- Basic EPS: ₹(0.26) (compared to ₹2.51 in corresponding quarter previous year)
- Diluted EPS: ₹(0.26) (compared to ₹2.51 in corresponding quarter previous year)
Standalone Financial Performance (Six Months Ended September 30, 2026)
- Total Income: ₹132 lakh (compared to ₹1,104 lakh in corresponding period previous year)
- Loss after tax: ₹(750) lakh (compared to profit of ₹3,427 lakh in corresponding period previous year)
- Basic EPS: ₹(0.51) (compared to ₹2.35 in corresponding period previous year)
Segment-wise Performance (Standalone)
The company operates in three segments:
1. Investment and trading in equities: Revenue of ₹4 lakh for quarter, ₹123 lakh for six months
2. Service business of facilities/manpower/catering/restaurants activities: No revenue for quarter
3. Others: No revenue for quarter
Balance Sheet Position (Standalone as of September 30, 2026)
- Total Assets: ₹24,052 lakh (compared to ₹25,318 lakh as of March 31, 2026)
- Property, Plant and Equipment: ₹10,537 lakh
- Inventories: ₹2,964 lakh
- Trade receivables: ₹1,869 lakh
- Cash and cash equivalents: ₹22 lakh
- Equity Share capital: ₹14,583 lakh
- Other Equity: ₹(4,052) lakh (negative)
- Total Liabilities: ₹13,521 lakh
Cash Flow Statement (Standalone)
- Net cash used in operating activities: ₹(389) lakh for six months
- Net cash used in investing activities: ₹(81) lakh for six months
- Net cash used in financing activities: ₹(7) lakh for six months
- Net decrease in cash and cash equivalents: ₹(477) lakh for six months
Consolidated Financial Performance (Quarter Ended September 30, 2026)
- Total Income: ₹47 lakh
- Revenue from Operations: ₹43 lakh
- Other Income: ₹4 lakh
- Loss before tax: ₹(447) lakh
- Loss after tax: ₹(447) lakh
- Basic EPS: ₹(0.31)
- Diluted EPS: ₹(0.31)
Auditor's Emphasis of Matter
The statutory auditors, KAMG & Associates, highlighted four key issues in their review report:
1. Long Island Project Dispute: Final settlement pending for maintenance services, resulting in Disputed Liability of ₹1,928 lakh. Revenue not recognized since FY ended March 2025 for services provided. Sufficient audit evidence not obtained regarding disputes and reconciliation process.
2. HDFC Ltd Settlement: 'No Dues Certificate' not obtained for settlement of ₹1,554 lakh paid by the Company. Management assured NDC will be obtained shortly and asserted no amount payable in HDFC's books.
3. RERA Non-compliance: Company has not renewed registration of project "Rio" under Real Estate (Regulation and Development) Act, 2016 since March 31, 2019.
4. VAT Dues: Company yet to clear old outstanding VAT dues amounting to ₹1,257 lakh. Stay Order obtained from Karnataka High Court.
The auditor's conclusion is not modified regarding these matters.
Subsidiary Update
- A new wholly owned subsidiary, Satchmo Services Private Limited, was incorporated on January 21, 2026, engaged in facilities management and allied services.
- The subsidiary was renamed to "Redsox Service Company Private Limited" effective October 13, 2026.
- All formalities regarding name change complied with Ministry of Corporate Affairs requirements.
Additional Information
- The financial results were reviewed by the Audit Committee and approved by the Board of Directors
- Results prepared in accordance with Indian Accounting Standards (Ind AS)
- No new accounting standards or amendments were notified by MCA applicable for this period
- Company focusing on service business segments and investment/trading in equities
- All operations are within India
- Financial statements prepared on going concern basis
- Previous period figures have been regrouped/recast where necessary