Key Financial Figures (Rupees in Lakhs)

For Quarter Ended March 31, 2026 (Audited):

  • Revenue from operations: ₹7,319.95
  • Other Income: ₹38.57
  • Total Revenue: ₹7,358.52
  • Total Expenses: ₹7,603.53
  • Profit before tax: (₹245.01) [Loss]
  • Tax Expense (Current Tax): (₹61.66) [Credit]
  • Profit/(Loss) for the period: (₹183.35) [Loss]
  • Basic & Diluted EPS: (₹0.75) [Loss per share]

For Year Ended March 31, 2026 (Audited):

  • 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
  • Tax Expense (Current Tax): ₹21.93
  • Profit for the period: ₹65.20
  • Basic & Diluted EPS: ₹0.27

Comparative Figures (Previous Year - Audited):

  • Year Ended March 31, 2025 Profit: ₹99.58
  • Year Ended March 31, 2025 EPS: ₹0.41

Balance Sheet Highlights as at March 31, 2026:

  • Total Assets: ₹20,955.78
  • Equity Share Capital: ₹2,444.35
  • Other Equity: ₹3,120.63
  • Trade Receivables: ₹15,194.23
  • Loans (Current Assets): ₹5,669.41
  • Trade Payables: ₹14,746.18 (No bifurcation for Micro, Small, and Medium Enterprises provided)
  • Current Tax Liabilities (Net): ₹42.33

Cash Flow for Year Ended March 31, 2026:

  • Net Cash from Operating Activities: (₹63.17)
  • Net Cash from Investing Activities: (₹0.18)
  • Net Cash from Financing Activities: ₹50.56
  • Net Decrease in Cash & Equivalents: (₹12.79)
  • Cash & Equivalents at End: ₹9.48

Audit Report and Qualifications

The statutory auditors, M/s Chandabhoy & Jassoobhoy, Chartered Accountants (Firm Regn. No. 101648W), issued a report with a Disclaimer of Opinion on the financial results. The audit was conducted in accordance with standards specified under Section 143(10) of the Companies Act, 2013. The auditors were unable to obtain sufficient appropriate audit evidence to form an opinion, resulting in a disclaimer. The key issues leading to the disclaimer are:

1. Trade Payables Write-off: Certain trade payables were written off without supporting documentation, management justification, or evidence establishing cessation of liability. Lack of third-party confirmations prevents verification of genuineness and assessment of impact.

2. MSME Classification Bifurcation: The company did not provide the required bifurcation of trade payables relating to Micro, Small, and Medium Enterprises (MSME), a non-compliance with the MSMED Act, 2006.

3. Trade Receivables Verification: Significant trade receivable balances (₹15,194.23 lakhs) could not be verified. External confirmations for major balances were not available, and some debtor accounts had unexplained credit balances. The existence and recoverability are unverifiable.

4. Inventory and Trading Transactions: The company reported substantial sales and purchase transactions but showed nil closing stock. Management's representation of direct transfer from suppliers to customers is inconsistent with recorded godown rent expenses. Lack of stock records and physical verification reports prevents verification of transaction genuineness.

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

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

7. Purchase Transaction Documentation: Goods Inward Reports or other evidence for receipt of goods were not provided for purchases, preventing verification of correctness and genuineness.

Statement on Impact of Audit Qualifications

Additional Information

  • Segment Reporting: The company operates only in one segment: Trading of Agricultural Goods.
  • Paid-up Capital: ₹2,444.35 lakhs (Face Value of ₹10 per share).
  • The figures for the quarter ended March 31, 2026, are the balancing figure between the audited full-year figures and the published unaudited figures up to the third quarter.
  • The financial results were reviewed by the Audit Committee and approved by the Board of Directors.
  • Signatories: CEO/MD - Pavankumar Patel; Chairman - Nilesh Koshti; Audit Committee Chairman - Akash Jitendrakumar Patel.