Board Meeting Outcome

The Board of Directors meeting held on November 9, 2026 (3:00 PM to 4:00 PM) approved:

  • Unaudited standalone financial results for quarter and half-year ended September 30, 2026
  • Limited review report from statutory auditors on the results
  • Noted the inability to prepare consolidated financial results due to subsidiary insolvency proceedings

Financial Results (Standalone)

Quarterly Performance (₹ in Lakhs)

  • Quarter Ended 30.09.2026: Net Loss of ₹200.60 lakh
  • Quarter Ended 30.06.2026: Net Loss of ₹219.64 lakh
  • Quarter Ended 30.09.2025: Net Loss of ₹138.29 lakh
  • Revenue: ₹0 for all periods

Half-Yearly Performance (₹ in Lakhs)

  • Half Year Ended 30.09.2026: Net Loss of ₹420.24 lakh
  • Half Year Ended 30.09.2025: Net Loss of ₹340.33 lakh

Annual Comparison (₹ in Lakhs)

  • Year Ended 31.03.2026: Net Loss of ₹636.94 lakh

Key Financial Metrics

  • Earnings Per Share (Basic & Diluted):
  • Q2 FY27: (₹0.16)
  • Q1 FY27: (₹0.17)
  • Q2 FY26: (₹0.11)
  • H1 FY27: (₹0.33)
  • H1 FY26: (₹0.27)
  • FY26: (₹0.50)
  • Paid-up Equity Share Capital: ₹1,265.00 lakh (Face Value ₹1.00 per share)

Expenditure Breakdown (₹ in Lakhs)

  • Employees Cost: ₹9.51 (Q2 FY27), ₹9.39 (Q1 FY27), ₹9.47 (Q2 FY26)
  • Finance Cost: Negative ₹60.23 across all periods
  • Depreciation: ₹183.75 (quarterly), ₹367.49 (half-yearly)
  • Other Expenditure: ₹7.35 (Q2 FY27), ₹26.51 (Q1 FY27), ₹5.30 (Q2 FY26)

Subsidiary Insolvency Situation

Corporate Insolvency Resolution Process (CIRP)

  • Shrivallabh Pittie Enterprises Private Limited (wholly owned subsidiary) admitted into CIRP pursuant to NCLT order dated September 03, 2026
  • Management suspended, affairs managed by Resolution Professional (RP)
  • Downstream subsidiaries also under RP control:
  • Shrivallabh Pittie South West Industries Limited (NCLT order: October 10, 2023)
  • Shrivallabh Pittie Industries Limited (NCLT order: March 07, 2024)
  • SV Pittie Trading (FZC) LLC- Oman
  • SV Pittie Sohar Textiles (FZC) AOC- Oman

Impact on Financial Reporting

  • Company unable to access financial information, records from RP
  • Necessary information for consolidated financial statements not provided
  • Company unable to prepare and present consolidated financial results for the period
  • Financial impact of CIRP proceedings cannot be quantified or commented upon

Balance Sheet Position (Standalone as at 30.09.2026)

Assets (₹ in Lakhs)

  • Property, Plant and Equipment: ₹1,407.12
  • Investments: ₹48.17
  • Other Non-current Assets: ₹110.20
  • Inventories: ₹14.51
  • Cash and Cash Equivalents: ₹4.08
  • Bank Balances (other than cash): ₹7,258.72
  • Total Assets: ₹14,149.82

Liabilities and Equity (₹ in Lakhs)

  • Equity Share Capital: ₹1,265.00
  • Other Equity: Negative ₹7,466.28
  • Non-current Borrowings: ₹14,626.51
  • Current Borrowings: ₹2,239.97
  • Trade Payables: ₹541.73
  • Other Financial Liabilities: ₹1,869.63
  • Other Current Liabilities: ₹998.94
  • Provisions: ₹23.27
  • Deferred Tax Liabilities: ₹51.05
  • Total Liabilities and Equity: ₹14,149.82

Cash Flow Statement (Half-Year Ended 30.09.2026)

  • Net Cash From Operating Activities: Negative ₹0.88 lakh
  • Net Cash From Investing Activities: ₹0
  • Net Cash From Financing Activities: ₹0.88 lakh
  • Net Change in Cash: ₹0
  • Closing Cash Balance: ₹4.08 lakh

Auditor's Limited Review Report

  • Conducted by Motilal & Associates LLP (ICAI FRN: 106584W/W100751)
  • Review performed under SRE 2410
  • No material misstatement identified in standalone financial results
  • Emphasis matters on subsidiary CIRP and balance confirmation issues

Notes and Qualifications

  • Trade receivables, payables, and loans subject to third-party balance confirmations
  • Figures for previous periods regrouped/reclassified where necessary
  • Company has single operating segment