Key Decisions and Financial Results

The Board of Directors met on November 12, 2026, and considered the following items:

1. Approval of Financial Results: The Board approved the Un-audited Standalone Financial Results for the quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and a Limited Review Report was issued by the statutory auditors, M/s. SR Pai & Co. (FRN: 0010793S).

  • Quarter Ended September 30, 2026 (Q2 FY27): Net Loss of ₹10.93 lakh. Basic and diluted EPS was (₹0.06).
  • Half Year Ended September 30, 2026 (H1 FY27): Net Loss of ₹33.66 lakh. Basic and diluted EPS was (₹0.18).
  • Comparative Figures (H1 FY26): Net Loss of ₹21.24 lakh. Basic and diluted EPS was (₹0.11).
  • Previous Full Year (FY26): Audited Net Loss of ₹42.47 lakh. Basic and diluted EPS was (₹0.22).
  • Paid-up Equity Share Capital remained unchanged at ₹1,896.37 lakh (Face value ₹10 per share).

2. Resignation of Secretarial Auditor: The Board took note of the resignation of M/s. JMACS Associates, Practising Company Secretaries, from the role of Secretarial Auditor. The resignation was effective November 4, 2026, citing preoccupation with other professional assignments.

3. Appointment of Secretarial Auditor: The Board approved the appointment of M/s. HB and Associates, Practising Company Secretaries (Peer Review Certificate No. 7251/2025), as the new Secretarial Auditor. The appointment is effective immediately for a tenure of five consecutive financial years (FY 2026-27 to FY 2030-31), subject to shareholder approval at the ensuing Annual General Meeting. The firm will hold office until the conclusion of the 86th AGM in 2031.

Detailed Financial Performance (Standalone)

Income Statement Highlights (₹ in Lakhs):

  • Revenue from Operations: ₹0.00 for all periods presented (Q2 FY27, H1 FY27, Q2 FY26, H1 FY26, FY26).
  • Other Income:
  • H1 FY27: ₹25.14 lakh. This represents a gain on land compulsorily acquired in FY 2013-14, against which a consideration of ₹27,15,890 was received.
  • H1 FY26: ₹25.14 lakh.
  • FY26: ₹0.01 lakh.
  • Total Expenses:
  • H1 FY27: ₹58.80 lakh.
  • H1 FY26: ₹46.38 lakh.
  • A significant portion of H1 FY27 expenses (₹39.78 lakh) was written off in Q1 FY27 (quarter ended June 30, 2026), comprising ₹38.94 lakh for a portion of a building (from an opening WDV of ₹71.63 lakh).
  • Employee Benefits Expense: ₹6.23 lakh (H1 FY27) vs. ₹5.84 lakh (H1 FY26).
  • Finance Costs: ₹0.00 for all periods.
  • Depreciation: ₹0.80 lakh (H1 FY27) vs. ₹0.40 lakh (H1 FY26).

Balance Sheet Position as of September 30, 2026 (₹ in Lakhs):

  • Total Assets: ₹397.40 lakh (vs. ₹433.00 lakh as of March 31, 2026).
  • Property, Plant and Equipment: ₹296.53 lakh (Net Block).
  • Loans (Non-Current): ₹91.16 lakh.
  • Cash and Cash Equivalents: ₹2.24 lakh.
  • Loans and Advances (Current): ₹5.53 lakh.
  • Equity:
  • Equity Share Capital: ₹1,896.37 lakh.
  • Other Equity: ₹(3,797.31) lakh (negative reserves).
  • Net Worth: ₹(1,900.94) lakh.
  • Borrowings (Non-Current): ₹1,296.00 lakh.
  • Other Current Liabilities: ₹1,000.05 lakh.

Cash Flow Statement for H1 FY27 (₹ in Lakhs):

  • Net Cash from Operating Activities: ₹(28.91) lakh.
  • Net Cash from Investing Activities: ₹(1.75) lakh, which includes a dividend received of ₹27.16 lakh.
  • The statement notes that the opening and closing balances of cash and cash equivalents are not fully reconciled in the provided data.

Additional Notes from Financials

  • The company has no subsidiary companies.
  • The company operates in a single reportable segment as per Ind AS 108.
  • Annual listing fees are allocated on a quarterly basis.
  • Previous periods' figures have been regrouped/reclassified where necessary.