Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year Ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting under SEBI Listing Regulations

Date of Board Meeting / Approval: November 07, 2026

Audit Opinion: Qualified Conclusion

Auditor’s Comment: The statutory auditor, HB Kalaria & Associates, issued a qualified review report. They were unable to conclude on whether the interim financial information would require further adjustments or additional disclosures had management performed an appropriate going concern assessment as required by Ind AS 1 and Ind AS 34. The basis for the qualified conclusion is a Material Uncertainty Regarding Going Concern and Inadequate Application of funds.

Key Financial Highlights [Rs. in Lakhs]

Standalone Results:

Revenue from Operations: Not Specified (disclosed as blank/zero in the financial table)

Other Income: ₹1,505.77 Lakhs (Q2 FY26); ₹1,645.94 Lakhs (H1 FY26)

Total Income: ₹1,505.77 Lakhs (Q2 FY26); ₹1,645.94 Lakhs (H1 FY26)

Net Profit/(Loss): (₹1,524.75) Lakhs (Q2 FY26); (₹2,161.15) Lakhs (H1 FY26)

EPS: (₹0.71) (Basic & Diluted) (Q2 FY26); (₹1.01) (Basic & Diluted) (H1 FY26)

Quarterly Comparison (Q2 FY26 vs Q2 FY25):

Net Loss widened to (₹1,524.75) Lakhs from (₹497.33) Lakhs in the prior year quarter.

Half-Yearly Comparison (H1 FY26 vs H1 FY25):

Net Loss widened to (₹2,161.15) Lakhs from (₹679.27) Lakhs in the prior year half.

Yearly Comparison (H1 FY26 vs FY25):

Net Loss for H1 FY26 is (₹2,161.15) Lakhs compared to a full-year Audited Net Loss of (₹1,010.85) Lakhs for FY25.

Expenses Breakdown (Q2 FY26):

Employee benefit expense: ₹3.87 Lakhs

Finance Costs: (₹533.38) Lakhs [Note: Negative figure presented]

Depreciation and amortisation expense: ₹3.26 Lakhs

Other Expenses: ₹2,438.17 Lakhs

Total Expenses: ₹1,911.92 Lakhs

Exceptional Items:

Q2 FY26: Inventory written off of ₹1,118.36 Lakhs

H1 FY26: Inventory written off of ₹1,118.36 Lakhs

Corporate Actions:

Re-Appointment of Managing Director: The Board approved the re-appointment of Mr. Lalitkumar Chandulal Vasoya (DIN: 02296254) as Chairman and Managing Director for a further period of three years, effective July 17, 2027.

Appointment of Statutory Auditors: The Board approved the appointment of M/s. H. Jamnadas & Co., Chartered Accountants (Firm Registration No.: 0104033W), as the statutory auditors of the company for a first term of five consecutive years, commencing from the conclusion of the 18th Annual General Meeting till the conclusion of the 23rd Annual General Meeting, subject to shareholder approval.

Other Significant Information:

Segment-wise Performance: The company's operations fall under a single segment "Solvent Products". Segment reporting is not applicable as per Ind AS 108.

Advance Written Off: Management decided to write off balances of advances to suppliers of ₹2,426.01 Lakhs, which are receivable since FY 2022-23 and are deemed not recoverable.

Cash Flow Statement (H1 FY26):

  • Cash Flow from Operating Activities: (₹117.28) Lakhs
  • Cash Flow from Investing Activities: ₹2,058.30 Lakhs (from disposal of assets)
  • Cash Flow from Financing Activities: (₹1,941.43) Lakhs (primarily from repayment of borrowings)
  • Cash & Cash Equivalents at period end: ₹0.94 Lakhs