Financial Results Summary

Quarterly Performance (Q4 FY26)

  • Revenue from Operations: ₹0.00 (compared to ₹1,200.00 lakhs in Q3 FY26 and ₹204.21 lakhs in Q4 FY25)
  • Other Business Income: ₹0.41 lakhs
  • Total Income: ₹0.41 lakhs
  • Total Expenses: ₹193.77 lakhs (including depreciation of ₹127.38 lakhs)
  • Loss before tax: ₹(232.26) lakhs
  • Tax benefit: ₹(59.84) lakhs
  • Net Loss: ₹(172.43) lakhs
  • Basic and Diluted EPS: ₹(0.03)

Annual Performance (FY26)

  • Revenue from Operations: ₹1,200.00 lakhs (compared to ₹229.71 lakhs in FY25)
  • Other Business Income: ₹0.71 lakhs
  • Total Income: ₹1,200.71 lakhs
  • Total Expenses: ₹882.54 lakhs (including depreciation of ₹507.07 lakhs)
  • Profit before tax: ₹250.69 lakhs
  • Tax expense: ₹65.74 lakhs
  • Net Profit: ₹184.96 lakhs
  • Basic and Diluted EPS: ₹0.03

Capital Structure

  • Paid-up Equity Share Capital: ₹6,536.31 lakhs (increased from ₹647.71 lakhs in FY25)
  • Other Equity (Reserve & Surplus): ₹1,134.62 lakhs (improved from ₹(1,111.90) lakhs in FY25)

Audit Qualifications

The statutory auditor, SDPM & Co., issued a qualified opinion with the following key concerns:

Regulatory Non-Compliance

  • Company's financial assets constitute more than 50% of total assets and income from financial assets constitutes more than 50% of gross income, making provisions of Section 45-IA of RBI Act, 1934 applicable
  • Company has not obtained required registration under RBI Act, 1934

Documentation Issues

  • Outstanding balances of unsecured loans received, loans advanced, and trade advances are subject to confirmation and supporting documents
  • Management has not provided balance confirmations or independent documentary evidence for unsecured loans and advances
  • Unable to obtain sufficient audit evidence regarding existence, accuracy, and completeness of these balances

Regulatory Violations

  • Company accepted loans from individuals in contravention of Section 73 of Companies Act, 2013

Receivables Concern

  • Outstanding trade receivables for more than 6 months as of reporting date
  • Insufficient audit evidence regarding recoverability of these balances
  • Management has not made adequate provision against such receivables

Management Response to Qualifications

Management stated in Annexure I that:

  • The qualifications regarding documentary evidence have no impact on financial statements
  • They believe the amount outstanding from trade receivables is recoverable
  • No quantitative impact on reported figures (all audited and adjusted figures remain identical)

Significant Transactions

During Q4 FY26, the company raised ₹30.36 crore through a rights issue and utilized ₹29.50 crore to provide loans and advances to Laddu Gopal Ventures Private Limited.

Cash Flow Analysis

  • Net cash from operating activities: ₹(5,927.53) lakhs (outflow)
  • Net cash from investing activities: ₹(2,082.55) lakhs (outflow)
  • Net cash from financing activities: ₹8,116.17 lakhs (inflow primarily from share issue of ₹7,950.17 lakhs)
  • Net increase in cash: ₹106.09 lakhs
  • Closing cash balance: ₹117.44 lakhs

Approval Details

  • Financial results reviewed by Audit Committee and approved by Board of Directors
  • Board meeting held on July 4, 2026, from 5:00 PM to 6:00 PM at registered office in Indore
  • Results based on financial statements audited by statutory auditors