Financial Performance Highlights
Quarter Ended 30th September 2026 (Unaudited):
- Total Income: ₹5.52 lakh
- Lease Rent Income: ₹537 lakh
- Agri Product Sales: ₹0.1 lakh
- Other Income: ₹0.05 lakh
- Total Expenses: ₹103.42 lakh
- Employee Benefits Expense: ₹12.60 lakh
- Depreciation: ₹48.1 lakh
- Administrative & Other Expenses: ₹42.48 lakh
- Loss Before Tax: ₹(97.90) lakh
- Loss for the Period: ₹(97.99) lakh
- Earnings Per Share (Basic & Diluted): ₹(0.08)
Half Year Ended 30th September 2026 (Unaudited):
- Total Income: ₹12.76 lakh
- Total Expenses: ₹172.07 lakh
- Loss Before Tax: ₹(159.31) lakh
- Loss for the Period: ₹(159.31) lakh
- Earnings Per Share (Basic & Diluted): ₹(0.10)
Comparative Figures (Half Year Ended 30th September 2025):
- Total Income: ₹467.03 lakh
- Total Expenses: ₹581.25 lakh
- Loss Before Tax: ₹(124.22) lakh
- Loss for the Period: ₹(124.22) lakh
Balance Sheet Position (as at 30th September 2026)
- Total Assets: ₹44,159.26 lakh (Previous: ₹44,198.85 lakh as at 31st March 2026)
- Property, Plant and Equipment: ₹42,013.36 lakh
- Cash and Cash Equivalents: ₹40.56 lakh
- Total Equity: ₹26,387.20 lakh
- Equity Share Capital: ₹16,186.37 lakh (Face Value ₹10 each)
- Other Equity: ₹10,200.84 lakh
- Total Liabilities: ₹17,772.06 lakh
- Borrowings: ₹17,671.88 lakh
Cash Flow Statement (Half Year Ended 30th September 2026)
- Net Cash Used in Operating Activities: ₹(86.49) lakh
- Net Cash Used in Investing Activities: ₹(0.33) lakh
- Net Cash Generated from Financing Activities: ₹127.16 lakh
- Proceeds from unsecured loans from others: ₹900.00 lakh
- Repayments of secured loans from financial institutions: ₹(500.00) lakh
- Repayments of secured loans from related party: ₹(267.97) lakh
Auditor's Qualified Conclusion
The auditors, B.M. Chaturvedi & Co., issued a qualified conclusion stating that the company disclosed an amount of ₹900 lakh under "unsecured loan/Inter-Corporate Deposit" but did not provide supporting documents evidencing the nature and terms of said amount. Consequently, they were unable to verify its nature, accounting treatment, classification, or determine whether any adjustments are required.
Significant Notes to Financial Results
1. Debenture Liability Settlement:
The company is in negotiations for settlement of dues with outstanding debenture holders. A reliable estimate cannot be made of the amount likely to be paid in satisfaction of these obligations. No provision has been made for additional amounts on account of interest and other charges which may be payable to the lenders.
2. PICUP One Time Settlement:
- The company had a One Time Settlement dated 4th December 2023 from PICUP for an aggregate amount of ₹2,597 lakh (Principal + Interest) payable by 3rd December 2024 with 11% simple interest.
- The company paid ₹678.92 lakh to PICUP on 20th April 2024, with balance outstanding remaining unpaid.
- PICUP approved extension of time up to 30th September 2026 for payment of the remaining final installment of ₹1,947.75 lakh along with simple interest @ 12% per annum for the defaulted period.
- During the quarter, the company made a further payment of ₹500 lakh towards the outstanding OTS dues and has requested PICUP for an extension of time for payment of the remaining balance.
- As the company is requesting rebate in the interest portion, a reliable estimate cannot be made of the amount likely to be paid. No provision has been made for additional amounts on account of interest and other charges.
3. Unsecured Loan/Inter-Corporate Deposit:
The company has availed an unsecured loan/Inter-Corporate Deposit of ₹900 lakh, approved by shareholders via Special Resolution at the AGM on 30th September 2026, and subsequently ratified by the Board of Directors on 13th November 2026.
4. Segment Reporting:
In terms of Ind AS 108 "Operating Segments", segment results have not been provided as the company has revenue from only one segment of trading and warehousing of Agri Products.