Shree Narmada Q2 Net Loss ₹17.10 Lakh

Total Income: ₹6.68 Lakh (consisting solely of Other Income; Income from Operations was Nil)
Total Expenses: ₹21.0 Lakh
Employee Benefit Expenses: ₹0.82 Lakh
Finance Costs: ₹11.0 Lakh
Depreciation and Amortisation: ₹0.17 Lakh
Other Expenses: ₹9.0 Lakh
Loss before exceptional items and tax: ₹(17.10) Lakh
Exceptional Items: ₹15.00 Lakh (not described in detail)
Loss before tax: ₹(17.10) Lakh
Tax Expense: Nil
Net Loss for the quarter: ₹(17.10) Lakh
Earnings Per Share (Basic & Diluted): ₹(2.28)

Total Assets: ₹22.78 Lakh
Non-current assets: ₹14.76 Lakh (Property, plant and equipment)
Current assets: ₹8.02 Lakh (Cash and cash equivalents: ₹1.45 Lakh; Other financial assets: ₹1.60 Lakh)
Total Equity: ₹(809.05) Lakh (indicating fully eroded net worth)
Equity share capital: ₹52.96 Lakh
Other equity (Reserves and Surplus): ₹(862.02) Lakh
Total Liabilities: ₹831.83 Lakh (all current)
Borrowings: ₹632.22 Lakh
Other financial liabilities: ₹162.00 Lakh
Other current liabilities: ₹32.18 Lakh
Trade payables: ₹1.12 Lakh
Provisions: ₹4.34 Lakh

The company was under the Sick Industrial Companies Act, 1985. A compromise scheme for rehabilitation was approved by the Gujarat High Court on May 16, 2008.
A secured creditor appealed this order. The Division Bench of the Gujarat High Court rejected the appeal on March 10, 2025.
The company filed a caveat (Application No.4409) in the Supreme Court on March 24, 2025. On August 4, 2025, the Supreme Court passed an order, upon consent of the parties, confirming the 2008 scheme.
Consequently, the company has obtained possession of its factory premises in Bharuch.
Despite the net worth being fully eroded, management believes the going concern assumption is sustainable based on this legal outcome and has prepared the accounts accordingly.
The statutory auditors (SVH & Associates) have issued a qualified review report. They state that while the court orders confirm the company's facts, an uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern, and this matter is not adequately disclosed in the financial statements. This is noted as a repetitive qualification.

Taxation: No provision for income tax is made due to losses. Deferred tax assets are not recognized due to a lack of virtual certainty regarding future taxable income. Minimum Alternate Tax (MAT) provisions are not applicable as the company is classified as sick.
Segment Reporting: The company is primarily engaged in trading aluminium and reports no separate reportable segments under Ind AS 108.
Contingent Liability: The company is considering terminating an Agreement for Sale dated September 6, 2014, for its property with Samrat Assets Allied Industries Pvt. Ltd. Termination may give rise to a liability, but the amount is not ascertainable.
Cash Flow: Net cash used in operating activities for the half-year was ₹(20.78) Lakh. Cash and cash equivalents at the end of the period stood at ₹1.45 Lakh.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 14, 2026.
The statutory auditors have carried out a limited review of the results.