Financial Results Approval

The Board of Directors considered and approved the Standalone Unaudited Financial Results for the quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and approved by the Board without modifications. The Statutory Auditors, M A A K & Associates (FRN: 135024W), issued a limited review report dated October 22, 2026, with UDIN: 26137390MWTHQXS845, stating nothing came to their attention causing belief that the financial results contain material misstatement.

Key Financial Figures (₹ in lakhs)

Quarter Ended September 30, 2026:

  • Revenue from operations: 185.26
  • Other Income: 0.15
  • Total Income: 185.41
  • Total Expenses: 224.27
  • Profit before tax: (38.87)
  • Tax Expense: (0.67) [Deferred tax]
  • Profit after tax: (38.20)
  • Basic EPS: (0.05)
  • Diluted EPS: (0.05)

Half Year Ended September 30, 2026:

  • Revenue from operations: 450.27
  • Other Income: 0.42
  • Total Income: 450.69
  • Total Expenses: 486.75
  • Profit before tax: (36.06)
  • Tax Expense: (1.77) [Deferred tax]
  • Profit after tax: (34.29)
  • Basic EPS: (0.05)
  • Diluted EPS: (0.05)

Comparative Figures (Quarter Ended September 30, 2025):

  • Revenue from operations: 422.12
  • Profit after tax: (3.43)
  • Basic EPS: (0.00)

Balance Sheet Highlights (as of September 30, 2026)

  • Property, Plant and Equipment: 347.34
  • Capital work-in-progress: 1,701.71
  • Security Deposit: 26.18
  • Other non-Current Assets: 56.75
  • Deferred Tax Asset (Net): 2.50
  • Inventories: 474.62
  • Trade receivables: 75.21
  • Cash and cash equivalents: 16.03
  • Bank balances other than cash: 6.85
  • Other current assets: 454.92
  • Total Assets: 3,165.13
  • Equity Share capital: 756.50
  • Other Equity: 36.11
  • Borrowings (Non-current): 2,060.12
  • Provisions: 10.33
  • Trade payables: 272.53
  • Other current liabilities: 29.54

Segment Information

The company operates in two segments:

1. Trading and Manufacturing of Solar Power Generating System and ancillaries

2. Manufacturing of Industrial bags

Segment Revenue for Q2 FY27:

  • Manufacturing of Industrial bags: 185.26
  • Solar segment: Not separately disclosed for quarter

Segment Results for Q2 FY27:

  • Solar segment: (16.92)
  • Industrial bags: (4.25)
  • Total Segment Operating Results: (21.17)

Capital Projects

The Company is undertaking two capital projects:

1. Construction and development of a Solar Power Plant under the solar segment

2. Construction of own manufacturing premises for the FIBC Bags manufacturing unit

Expenditure incurred towards these ongoing projects has been capitalized under Capital Work-in-Progress pending completion.

Director Resignation

The Board accepted the resignation of Mrs. Arunaben Prafulkumar Bavishiya (DIN: 07385551) as Director, effective from closing of business hours on October 22, 2026. The resignation was due to other pre-existing commitments. She confirmed there are no other material reasons for her resignation.

Meeting Details

The Board meeting commenced at 04:05 PM and concluded at 04:30 PM on October 22, 2026.

Compliance References

  • Regulation 30 and Regulation 33 of SEBI Listing Regulations
  • SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
  • Indian Accounting Standard (Ind AS) 34 on 'Interim Financial Reporting'
  • Standard on Review Engagement (SRE) 2410