Board Meeting Details
The meeting commenced at 1:00 PM and concluded at 2:00 PM on 12th August 2026.
Key Decisions Approved
1. Unaudited Financial Results: Approved the unaudited financial results for the quarter ended 30th June 2026 along with Limited Review Report.
2. Resignation of Company Secretary: The Board took note of resignation of Mr. Rishabh Jain from the post of Company Secretary effective 12th August 2026 due to personal reasons.
- Date of Resignation: 12th August 2026
- Reason: Personal reasons (no other material reasons mentioned)
- Resignation letter was enclosed with the filing
3. Appointment of New Company Secretary: Approved the appointment of Ms. Pratyansha Pandey as Company Secretary effective 12th August 2026 based on recommendations of the Nomination and Remuneration Committee.
- Date of Appointment: 12th August 2026
- Educational Qualifications: Company Secretary, LL.B, B.COM
4. Directors' Report: Approved the Directors' Report for FY ended 31st March 2026 along with all annexures.
5. Routine Business: Any other routine business with permission of chair.
Financial Results Summary (Quarter Ended 30th June 2026)
All amounts in ₹ Lakhs
Continuing Operations:
- Revenue from operations: ₹217.36
- Other income: ₹2.25
- Total Income: ₹219.61
- Total Expenses: ₹185.35
- Profit before tax: ₹34.26
- Profit after tax: ₹34.26
- EPS (Basic and Diluted): ₹0.70
Discontinued Operations (Spinning Division):
- The Board resolved to discontinue spinning division operations effective 1st November 2023 due to continued cash losses making the division unviable
- Loss after tax: ₹(15.91)
- EPS (Basic and Diluted): ₹(0.32)
Consolidated Performance:
- Profit for the period: ₹18.35
- Total Comprehensive Income: ₹18.35
- EPS (Basic and Diluted): ₹0.37
Comparative Performance:
- Quarter ended 31st March 2026: Loss of ₹(60.62) lakhs
- Quarter ended 30th June 2025: Profit of ₹18.12 lakhs
- Year ended 31st March 2026: Profit of ₹132.24 lakhs
Capital Structure:
- Paid up Equity Share Capital: ₹490.86 lakhs (face value ₹10 each)
- Total Reserves excluding Revaluation Reserves: Not quantified for current period
Key Financial Notes
1. Going Concern Basis: Despite accumulated losses of ₹2,464.23 lakhs as at June 30, 2026 and current liabilities exceeding current assets, financial statements are prepared on going concern basis considering market value of immovable properties.
2. Accounting Standards: Results prepared in accordance with Indian Accounting Standards notified under Companies Rules, 2015.
3. Discontinued Operations: Spinning division discontinued effective 1st November 2023. Non-current assets classified as held for sale with value of ₹159.08 lakhs as at June 30, 2026.
4. Segment Reporting: Not applicable as company operates as one segment.
5. Statutory Dues: No provision made for interest payable on outstanding unpaid TDS dues of ₹2.10 lakhs (including arrears of ₹1.38 lakhs up to March 31, 2026).
6. Interest Without Agreement: Interest charged includes ₹4.98 lakhs provided without any agreement.
Auditor's Review
Statutory Auditors K.S. Rao & Co. conducted limited review and issued qualified conclusion due to:
- Non-provision of interest on outstanding unpaid TDS dues amounting to ₹2.10 lakhs
Except for this qualification, nothing came to their attention suggesting material misstatement.