Summary of Key Information:

Reporting Period (Quarter/Year): Quarter ended March 31, 2026 and Year ended March 31, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Audited Financial Results

Audit Opinion:

Disclaimer of Opinion

Key Financial Highlights [₹ in Lacs]:

Standalone Results:

Quarter Ended March 31, 2026:

  • Revenue from Operations: ₹6.60
  • Total Income: ₹6.60
  • Net Profit: (₹29.92) loss
  • EPS: (₹0.10)

Year Ended March 31, 2026:

  • Revenue from Operations: ₹22.29
  • Total Income: ₹22.29
  • Net Profit: (₹128.72) loss
  • EPS: (₹0.45)

Comparative Figures (Year Ended March 31, 2025):

  • Revenue from Operations: ₹29.78
  • Total Income: ₹29.78
  • Net Profit: (₹543.01) loss
  • EPS: (₹1.90)

Financial Position as of March 31, 2026:

  • Paid-up Equity Share Capital: ₹2,862.66 lakhs (Face value ₹10 each)
  • Other Equity: Negative ₹3,378.97 lakhs
  • Retained Earnings: Negative ₹12,118.61 lakhs
  • Cash and Cash Equivalents: Not specified
  • Bank Balances other than cash: ₹185.58 lakhs
  • Total Debt:
  • Borrowings (Non-current): ₹5,356.13 lakhs
  • Borrowings (Current): ₹1,926.51 lakhs
  • Total: ₹7,282.64 lakhs

Segment-wise Performance [₹ in Lacs]:

Year Ended March 31, 2026:

  • Pipe Segment:
  • Segment Results: (₹26.53) loss
  • Segment Assets: ₹4,927.12
  • Segment Liabilities: ₹8,252.75
  • Textile Segment:
  • Segment Results: (₹53.34) loss
  • Segment Assets: Negative ₹50.00
  • Segment Liabilities: ₹3.33
  • Total Segment Loss before tax: (₹79.87)
  • Finance Cost: ₹48.85
  • Total Loss before tax: (₹128.72)

Corporate Actions:

Not Specified

Outstanding Default on Loans:

  • Total outstanding loans from banks/financial institutions: ₹54.56 crore
  • Total amount of default: ₹54.56 crore
  • Total financial indebtedness including short-term and long-term debt: ₹54.56 crore

NCLT Proceedings:

  • Bank of India filed case with NCLT, Jaipur Bench under Reference No. CP No. (IB)-54/7/JPR/2023
  • Next hearing scheduled for March 09, 2026
  • No One-Time Settlement (OTS) proposal under consideration by bank

Related Party Transactions (Year ended March 31, 2026):

  • Unsecured loans from Key Management Personnel: Outstanding ₹838.19 lakhs
  • Unsecured loans from companies controlled by KMP: Outstanding ₹292.76 lakhs
  • Remuneration to KMP: ₹1.32 lakhs expenses

Entities Included in Consolidation:

The Company has not any subsidiary/associate/joint venture company(ies) as on March 31, 2026

Other Significant Information:

Production Status:

  • No production of goods during the quarter
  • Textile segment closed for a long time
  • Plant and machinery given on rent to M/s Vasa Industries (related party)

Bank NPA Status:

  • Bank of India declared NPA on June 30, 2022 (w.e.f. November 27, 2020)
  • Outstanding loan amount: ₹7,116.27 lakhs plus Bank Guarantee ₹57 lakhs = ₹7,173.27 lakhs
  • Bank forfeited equity shares of promoters/directors totaling ₹540.27 lakhs
  • Bank sold 71,69,116 shares in FY2023-24 for ₹465.27 lakhs (₹6.49 per share)
  • Bank sold 14,17,858 forfeited shares in FY2022-23 for ₹76.33 lakhs (₹5.38 per share)

Asset Status:

  • Land and building of ₹29.82 lakhs at Daulatpura, Jaipur held for sale since long time
  • Gross assets in Textile Segment: ₹83.98 crores
  • Net block of assets in Textile Segment: ₹12.15 crores (after impairment)

Additional Borrowings:

  • Additional loan of ₹5 crores from directors for OTS with Bank of India
  • Additional loan of ₹7.00 crores from M/s Nakshetra Asset Venture Limited @ 8% p.a.

Audit Qualifications Impact Statement:

Management stated that the impact of audit qualifications cannot be reasonably estimated due to the uncertain nature of the ongoing NCLT proceedings and negotiations with banks.