Board Meeting Details

  • Meeting Date: Saturday, May 30, 2026
  • Commencement Time: 04:00 PM
  • Conclusion Time: 05:00 PM
  • Reference: Regulation 10(1A) of SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Financial Results Approval

The Board approved the Audited (Standalone & Consolidated) Financial Results for the Quarter and Year ended March 31, 2026, along with the Audit Report issued by M/s. S. N. Gadiya & Co., Chartered Accountants (Firm Registration No. 02052C).

Key Financial Figures (Standalone - FY2026)

  • Total Revenue: ₹1,164.13 lakh
  • Net Sales/Income from Operations: ₹1,161.88 lakh
  • Other Income: ₹2.25 lakh
  • Total Expenses: ₹1,438.41 lakh
  • Purchase of Stock in Trade: ₹1,143.06 lakh
  • Employee Benefit Expense: ₹57.07 lakh
  • Finance Cost: ₹29.40 lakh
  • Other Expenditure: ₹191.03 lakh
  • Net Loss Before Tax: ₹(274.28) lakh
  • Tax Expense: ₹0.00 lakh
  • Net Loss for the Period: ₹(274.28) lakh
  • Basic EPS: ₹(9.37)
  • Diluted EPS: ₹(9.37)

Key Financial Figures (Consolidated - FY2026)

  • Net Loss for the Period: ₹(327.51) lakh
  • Basic EPS: ₹(114.02)
  • Diluted EPS: ₹(114.02)

Quarterly Performance (Standalone)

  • Q4 FY26 Total Revenue: ₹477.64 lakh (Net Loss: ₹50.92 lakh)
  • Q3 FY25 Total Revenue: ₹564.67 lakh (Net Loss: ₹24.61 lakh)
  • Q4 FY25 Total Revenue: ₹17.39 lakh (Net Loss: ₹103.53 lakh)

Key Managerial Personnel Appointments

1. Mr. Deepak Parashar (DIN: 11742891)

  • Role: Additional Director and Whole-time Director (KMP)
  • Term: 3 years effective May 30, 2026
  • Approval: Subject to shareholder approval in ensuing General Meeting
  • Profile: 25+ years experience in sales, marketing, production, operations, fund management and governance

2. Mr. Yogendra Singh Bhati (DIN: 11621123)

  • Role: Additional Director, Non-Executive Professional Director & Chief Financial Officer (KMP)
  • Effective Date: May 30, 2026
  • Profile: 5+ years experience in corporate strategy, financial planning, fund management and risk management

Both appointments were based on recommendations of the Nomination and Remuneration Committee. It was confirmed that neither individual is debarred from holding director office by SEBI or any regulatory authority.

Financial Statement Highlights

Balance Sheet (Standalone as of March 31, 2026)

  • Total Assets: ₹1,571.49 lakh
  • Intangible Assets: ₹981.56 lakh
  • Inventories: ₹415.73 lakh
  • Trade Receivables: ₹5.77 lakh
  • Cash & Cash Equivalents: ₹12.77 lakh
  • Loans (Current): ₹150.66 lakh
  • Total Equity: ₹(108.91) lakh (Negative)
  • Borrowings (Current): ₹1,456.48 lakh
  • Trade Payables (Current): ₹175.22 lakh
  • Other Current Financial Liabilities: ₹40.65 lakh

Significant Disclosures and Notes

1. Segment Reporting: The company is engaged only in Petrochemical Business; segment reporting not applicable.

2. Disputed Loan - Colama Commercial Ltd.:

  • Principle amount: ₹405.00 lakh carried as borrowing
  • Interest not provided as loan is under dispute
  • Matter pending before NCLT Indore bench
  • Based on legal opinion, management believes the amount is not payable

3. IBC Proceedings:

  • Petition u/s 7 of IBC 2016 filed by Colama Commercial Ltd. for alleged default of ₹405.00 lakh
  • Petition u/s 9 of IBC 2016 filed by Poonam Impex for alleged default of ₹102.714 lakh
  • Both matters subjudice before NCLT Indore bench
  • No provision considered necessary based on legal opinion

4. Associate Companies:

  • Acquired 48.23% equity stake in Digital Micron Roto Printers Pvt. Ltd.
  • Acquired 49.38% equity stake in Alpha Tar Industries Pvt. Ltd.

5. Forensic Audit: Appointed M/s Pitia & Co., Chartered Accountants, Mumbai to conduct forensic audit for period April 1, 2024 to March 31, 2025 for investigation of disputed loan from Colama Commercial Ltd.

6. Management Change and Inventory Shortage:

  • Management changed effective August 25, 2025
  • Erstwhile management did not hand over physical stock and inventory records for period up to April 2025
  • Unable to verify physical inventory of ₹214.03 lakh
  • Shortage of ₹214.03 lakh provided for in books
  • Complaint filed with Economic Offence Wing, Indore against erstwhile management

7. New Borrowings:

  • Secured loan of ₹700 lakh from Excellence Finance Pvt. Ltd.
  • Secured loan of ₹300 lakh from Swan Finance Ltd.
  • Against security of investment with charge registered with ROC, Gwalior (M.P.)

Audit Details

The statutory auditors, M/s. S. N. Gadiya & Co., expressed an unmodified opinion on both standalone and consolidated financial results. The audit was conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013.