Key Decisions and Financial Results

The Board of Directors meeting was held on Monday, 08th June, 2026, commencing at 05:00 P.M. and concluding at 06:30 P.M. The Board considered and approved the following businesses:

1. Audited Standalone and Consolidated Financial Results along with Auditor's Report of the Company for the quarter and year ended March 31, 2026 in terms of Regulation 33 of SEBI (LODR) Regulations, 2015.

2. Audited Standalone and Consolidated Financial Statements of the Company for the year ended 31st March, 2026 along with Auditor's Report thereon in terms of Section 134 of the Companies Act, 2013.

Financial Results Summary (Rupees in Lacs)

Quarterly Performance (Q4 FY26)

  • Revenue from operations: ₹7,319.95
  • Other Income: ₹38.57
  • Total Revenue: ₹7,358.52
  • Total Expenses: ₹7,603.53
  • Loss before tax: ₹(245.01)
  • Current Tax: ₹(61.66) [negative indicating tax benefit?]
  • Net Loss: ₹(183.35)
  • Basic EPS: ₹(0.75)
  • Diluted EPS: ₹(0.75)

Annual Performance (FY26)

  • Revenue from operations: ₹14,273.02
  • Other Income: ₹149.53
  • Total Revenue: ₹14,422.55
  • Total Expenses: ₹14,335.43
  • Profit before tax: ₹87.12
  • Current Tax: ₹21.93
  • Net Profit: ₹65.20
  • Basic EPS: ₹0.27
  • Diluted EPS: ₹0.27
  • Paid-up equity share capital: ₹2,444.35 (Face Value of ₹10 per share)

Comparative Figures (FY25)

  • Revenue from operations: ₹1,098.93
  • Other Income: ₹81.70
  • Total Revenue: ₹1,180.63
  • Total Expenses: ₹1,047.45
  • Profit before tax: ₹133.18
  • Current Tax: ₹33.60
  • Net Profit: ₹99.58
  • Basic EPS: ₹0.41
  • Diluted EPS: ₹0.41

Auditor's Report - Disclaimer of Opinion

The statutory auditors, Chandabhoy & Jassoobhoy Chartered Accountants, issued a disclaimer of opinion on the audited financial results. They were unable to obtain sufficient and satisfactory audit evidence, data, workings, and documentation necessary to provide a basis for expressing an opinion on the standalone annual financial results.

Basis for Disclaimer of Opinion

The auditors cited seven specific areas of concern:

1. Trade Payables Write-off: The Company has written off certain trade payables without providing supporting documentation, management justification, or evidence establishing cessation of liability. Absence of third-party confirmations and adequate supporting evidence prevents verification of genuineness of transactions or assessment of impact on financial statements and tax compliances.

2. MSME Classification: The Company has not provided bifurcation of trade payables relating to Micro, Small, and Medium Enterprises (MSME). Non-disclosure violates MSMED Act, 2006 requirements and may have implications on statutory disclosures and regulatory compliance.

3. Trade Receivables Verification: The Company reported significant trade receivable balances, but external balance confirmations for major outstanding balances and parties involving substantial debit transactions were not available. Certain debtor accounts reflect unexplained credit balances. Absence of sufficient audit evidence prevents commenting on accuracy and realizability of trade receivables.

4. Inventory Discrepancy: The Company reported substantial sales and purchase transactions while reflecting nil closing stock. Management represented that goods are directly transferred from suppliers to customers without being held as inventory, but the existence of godown rent expenses appears inconsistent with this representation. Absence of stock records and physical verification reports prevents verification of trading transactions genuineness.

5. Loans and Advances: The Company reported outstanding loans and advances but recognized no corresponding interest income during the year. No loan agreements or repayment terms were provided for verification, creating uncertainty regarding recoverability and compliance with Section 186 of Companies Act, 2013.

6. Sales Documentation: Certain sales transactions were not supported by E-Way Bills, delivery challans, or transportation documents, preventing verification of authenticity and completeness.

7. Purchase Documentation: The Company did not provide Goods Inward Reports or other supporting evidence for receipt of goods. Management's representation of direct trading without inventory holding lacks adequate documentary evidence for verification.

Balance Sheet Position as at 31st March, 2026 (Rupees in Lacs)

Assets

  • Property Plant and Equipment: ₹0.14
  • Other Intangible assets: ₹7.82
  • Financial Assets: ₹15,194.23
  • Investments: ₹9.48
  • Other current assets: ₹74.70
  • Total Assets: ₹20,955.78

Equity and Liabilities

  • Equity Share capital: ₹2,444.35
  • Other Equity: ₹3,120.63
  • Financial Liabilities (Borrowings): ₹515.05
  • Trade Payables: ₹14,746.18
  • Other Financial Liabilities: ₹85.81
  • Provisions: ₹1.41
  • Current Tax Liabilities (Net): ₹42.33
  • Total Equity and Liabilities: ₹20,955.78

MSME Disclosure

  • Total outstanding due to Micro enterprises and small enterprises: Not provided
  • Creditors other than micro enterprises and small enterprises: Not provided

Cash Flow Statement for FY26 (Rupees in Lacs)

  • Cash from Operating Activities: ₹(63.17)
  • Cash from Investment Activities: ₹(0.18)
  • Cash from Financing Activities: ₹50.56
  • Net decrease in Cash & Cash Equivalents: ₹(12.79)
  • Cash & Cash Equivalents at Beginning: ₹22.27
  • Cash & Cash Equivalents at End: ₹9.48

Impact of Audit Qualifications Statement

The audited figures as reported (before adjusting for qualifications) versus adjusted figures (after adjusting for qualifications) show no changes in:

  • Turnover/Total income: ₹14,422.55
  • Total Expenditure: ₹14,335.43
  • Net Profit/(Loss): ₹87.12
  • Earnings Per Share: ₹0.27
  • Total Assets: ₹20,955.78
  • Total Liabilities: ₹15,390.80
  • Net Worth: ₹5,564.98

Additional Information

  • The company operates in one segment: Trading of Agricultural Goods
  • The figures for the quarter and year ended 31st March 2026 are the balancing figure between audited figures in respect of the full financial year
  • Previous period's figures have been regrouped/rearranged wherever necessary
  • The audit was conducted by Chandabhoy & Jassoobhoy Chartered Accountants, Firm Regn. No. 101648W
  • The digital signature was provided by Patel Pavankumar Kamleshbhai, Managing Director & CFO (DIN: 10856066)