Key Financial Figures

Statement of Assets and Liabilities (in ₹ Lakhs)

  • Total Assets: 2,978.75 (31.03.2026) vs 1,004.50 (31.03.2025)
  • Equity Share Capital: 3,460.92 (unchanged from previous year)
  • Other Equity: (2,610.28) vs (2,573.39) previous year
  • Total Equity: 850.64 vs 887.53 previous year
  • Non-current Borrowings: 2,121.04 vs 113.65 previous year
  • Current Financial Liabilities: 7.07 vs 3.32 previous year
  • Cash and Cash Equivalents: 1.20 vs 1.29 previous year
  • Bank Balances: 52.66 vs 19.66 previous year
  • Non-current Investments: 2,910.96 vs 50.00 previous year

Statement of Profit and Loss (in ₹ Lakhs)

  • Profit/(Loss) Before Tax: (970.11) for year ended 31.03.2026
  • Total Tax Expenses: 0.40
  • Profit/(Loss) for the Period: (970.11)
  • Other Comprehensive Income: 0
  • Total Comprehensive Income: (970.11)

Statement of Cash Flows (in ₹ Lakhs)

  • Net Cash from Operating Activities: (967.27)
  • Net Cash from Investing Activities: 1,002.75
  • Net Cash from Financing Activities: 0
  • Net Increase in Cash: 43.52
  • Cash at Beginning: 10.35
  • Cash at End: 53.87

Key Dates

  • Financial Period: Quarter and year ended March 31, 2026
  • Board Meeting Date: Monday, 25th May, 2026 (7:00 PM to 7:35 PM)
  • Auditor Report Date: 25th May, 2026
  • Previous Auditor Report Date: May 28, 2025 for year ended March 31, 2025

Parties Involved

  • Stock Exchange: BSE Limited
  • Statutory Auditors: C.A VINEET GUPTA (VRSK & Associates)
  • Directors: Nand Kishore Ray (DIN: 11626638), Babita (DIN: 09064124)

Auditor's Opinion

Qualified opinion stating:

  • Financial statements may not give true and fair view due to non-provision of interest on loans
  • Non-compliance with Indian Accounting Standards (IND-AS) prescribed under Section 133 of Companies Act, 2013
  • Company should have prepared financial statements in compliance with IND-AS

Key Audit Matters

1. Loan Portfolio of ₹2,121.04 Lakhs: Significant risk associated with terms of loans, repayment schedule, rate of interest, securities, and potential conversion to equity capital

2. Fair Valuation of Unquoted Investments: Requires significant judgment due to unavailability of quoted prices and limited market liquidity

Critical Findings from Auditor's Report

  • Company has defaulted in repayment of loans; lender has initiated CIRP proceedings
  • Company invested in shares of group companies exceeding limits prescribed under Section 186 of Companies Act, 2013
  • Company has not deposited TDS of ₹0.25 Lakhs
  • Company incurred cash losses of ₹37.82 lakhs in current year and ₹8.53 lakhs in previous year
  • Resignation of statutory auditors during the year; appointment not ratified in EGM
  • Company not capable of meeting its liabilities as they fall due within one year
  • Company required to be registered under Section 45-IA of RBI Act, 1934 but not registered
  • Internal financial controls have deficiencies affecting reliability of financial reporting
  • No fraud reported during the year
  • No pending litigations impacting financial position
  • No related party transactions during the year
  • No dividends declared or paid during the year

Financial Impact Assessment

Financial impact quantified in the disclosure with specific amounts for losses, borrowings, and investments. However, auditors qualify that true and fair view is affected by non-provision of interest on loans.

Notes to Financial Results

  • Results reviewed by Audit Committee and approved by Board of Directors
  • Prepared in compliance with Companies (Indian Accounting Standards) Rules, 2015
  • Format modified to comply with SEBI circular dated 5th July, 2016 and IND-AS
  • Previous period figures regrouped for consistency
  • No investor complaints pending or received during the quarter

Reconciliation Statement

  • Net Profit/Loss as per previous Indian GAAP: (36.88)
  • Net Profit/Loss as per IND-AS: (36.88)
  • No adjustments to Balance Sheet or Statement of Profit and Loss