Financial Results (Continuing Operations)

For the quarter ended June 30, 2026:

  • Total Income: ₹11.39 crore (Q1 FY26: ₹10.14 crore)
  • Revenue from Operations: ₹9.72 crore
  • Other Income: ₹1.67 crore
  • Total Expenses: ₹20.77 crore (Q1 FY26: ₹18.25 crore)
  • Cost of raw material: ₹6.25 crore
  • Finance costs: ₹9.20 crore
  • Depreciation: ₹1.11 crore
  • Other expenses: ₹3.54 crore
  • Loss before tax: ₹(9.38) crore (Q1 FY26: ₹(8.11) crore)
  • Loss after tax: ₹(9.38) crore (Q1 FY26: ₹(8.11) crore)
  • Earnings per share (Basic & Diluted): ₹(0.64)

Financial Results (Discontinued Operations - Paper Division)

For the quarter ended June 30, 2026:

  • Loss after tax: ₹(1.12) crore (Q1 FY26: ₹(2.17) crore)
  • Earnings per share (Basic & Diluted): ₹(0.08)

Consolidated Results

For the quarter ended June 30, 2026:

  • Net Loss for the period: ₹(10.50) crore (Q1 FY26: ₹(10.28) crore)
  • Total Comprehensive Income for the period: ₹(10.48) crore

Capital Structure & Financial Position

  • Paid-up Equity Share Capital: ₹147.52 crore (face value ₹10 each)
  • Other Equity: Not stated for the quarter; was ₹(230.15) crore as of March 31, 2026.
  • Material Uncertainty: The company's current liabilities pertaining to continuing operations exceeded its current assets by ₹126.25 crore as of June 30, 2026. This, along with incurred losses, indicates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.

Other Board Decisions

1. Approved the Director's Report and annexures for FY 2025-26.

2. Appointed M/s. A. H. Jain & Co., Chartered Accountants (Firm Reg. No.: 133295W) as the Internal Auditor for FY 2026-27. Their core competency is in Income Tax, Audit, and GST.

3. Approved the notice for calling the 35th Annual General Meeting (AGM) scheduled for Friday, September 25, 2026.

4. Fixed Friday, September 18, 2026 as the cut-off date for determining shareholders eligible to vote at the AGM.

Auditor's Review & Emphasis of Matter

M/s. Batliboi & Purohit, Chartered Accountants (FRN: 101048W) issued an unmodified conclusion on the review of the financial results. Their report included:

  • Material Uncertainty Related to Going Concern: Emphasis on the note regarding the company's net loss and negative working capital.
  • Emphasis of Matter on Discontinued Operations: Emphasis on Note 3, which details the Paper Division classified as discontinued in FY 2022-23. The company is disposing of its assets on a piecemeal basis. During the year ended March 31, 2026, the company reassessed the fair value of these assets based on a valuer's report and recognized a further impairment loss of ₹27.84 crore. The management does not foresee any further impairment.

Notes to Financial Results

  • The results are prepared in accordance with Ind AS and SEBI LODR Regulations.
  • The Paper Division is presented as discontinued operations per Ind AS 105. The Water Bottle division is the only operating segment.
  • No provision for income tax or recognition of deferred tax assets was made due to losses and unabsorbed depreciation/carried-forward losses.
  • Figures for the quarter ended March 31, 2026, are balancing figures between audited annual figures and previously published unaudited quarterly figures.