Board Meeting Details

A meeting of the Board of Directors was held on Saturday, 14th November, 2026, at the company's registered office in Mumbai. The meeting commenced at 5:30 PM and concluded at 10:30 PM.

The Board transacted and approved the following matters:

1. The Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026.

2. The Limited Review Report on the Unaudited Financial Results for the quarter and half year ended September 30, 2026.

3. Related Party Disclosure on Consolidated basis for the half year ended September 30, 2026.

Financial Results Summary

Standalone Financials (Amounts in ₹ lakhs)

Quarter ended September 30, 2026:

  • Total Income: ₹0.00
  • Total Expenses: ₹15.19
  • Loss from Operations: ₹(15.19)
  • Net Loss for the period: ₹(15.10)
  • Basic and diluted EPS: ₹(0.003)

Quarter ended June 30, 2026:

  • Total Income: ₹5.50
  • Total Expenses: ₹32.32
  • Loss from Operations: ₹(26.82)
  • Net Loss for the period: ₹(26.73)
  • Basic and diluted EPS: ₹(0.005)

Half year ended September 30, 2026:

  • Total Income: ₹5.50
  • Total Expenses: ₹47.52
  • Loss from Operations: ₹(42.02)
  • Net Loss for the period: ₹(41.84)
  • Basic and diluted EPS: ₹(0.007)

Standalone Balance Sheet as at September 30, 2026:

  • Total Assets: ₹29,513.77 lakhs
  • Total Equity: ₹28,798.24 lakhs
  • Total Liabilities: ₹715.53 lakhs
  • Paid-up equity share capital: ₹5,778.15 lakhs (Face Value of ₹1 each)

Consolidated Financials (Amounts in ₹ lakhs)

Quarter ended September 30, 2026:

  • Total Income: ₹132.61
  • Total Expenses: ₹140.27
  • Loss from Operations: ₹(7.66)
  • Net Loss for the period: ₹(7.57)
  • Basic and diluted EPS: ₹0.00

Quarter ended June 30, 2026:

  • Total Income: ₹5.50
  • Total Expenses: ₹131.37
  • Loss from Operations: ₹(125.87)
  • Net Loss for the period: ₹(125.78)
  • Basic and diluted EPS: ₹(0.02)

Half year ended September 30, 2026:

  • Total Income: ₹138.11
  • Total Expenses: ₹271.63
  • Loss from Operations: ₹(133.53)
  • Net Loss for the period: ₹(133.34)
  • Basic and diluted EPS: ₹(0.02)
  • Total Comprehensive Income attributable to Holding: ₹(88.50)
  • Total Comprehensive Income attributable to NCI: ₹(44.84)

Consolidated Balance Sheet as at September 30, 2026:

  • Total Assets: ₹30,790.54 lakhs
  • Total Equity: ₹27,250.92 lakhs (including Non-Controlling Interest of ₹(555.65))
  • Total Liabilities: ₹3,539.62 lakhs
  • Paid-up equity share capital: ₹5,778.15 lakhs (Face Value of ₹1 each)

Limited Review Report - Qualified Conclusion

The auditors, A SGR&CO, issued a qualified conclusion on both standalone and consolidated financial results citing several issues:

1. Impairment of Financial Assets: The company has not provided for impairment of its financial assets using the expected credit loss (ECL) approach as required by Ind AS 109, despite considerable financing activities.

2. Impairment Analysis: The company has not carried out impairment analysis of loans and advances given to various companies as required by Ind AS 36, though there is an indication of impairment.

3. RBI Registration: Management has not provided a detailed assessment regarding applicability of Section 45-IA of the RBI Act, 1934, to determine if registration is required.

4. SEBI Notices: The company has received notices from SEBI, and pending completion of investigation, the consequent impact on financial results is not ascertainable. ED has also frozen some shares.

5. Economic Benefits: The company has not deliberated on the economic benefits realizable from Merchandizing Agreements entered into.

6. Statutory Compliance: The company has not complied with statutory liabilities such as Professional tax and TDS.

Related Party Disclosures for FY26

The company provided details of related party transactions during the year ended March 31, 2026:

Key Managerial Personnel:

  • Mohamed Ali Budhwani (Managing Director)
  • Shahnawaz Sayed (Executive Director, CFO)
  • Rohit Purohit (Independent Director)
  • Cathrine Fernandez (Independent Director)
  • Shikhar Khandelwal (Independent Director)
  • Nayan Sablok (Company Secretary)

Subsidiaries:

  • Kumite 1 League Private Limited (Wholly owned subsidiary)
  • Pacific Star Sports Services L.L.C. (Foreign subsidiary)

Transaction Details:

  • Rent paid to Mohamed Ali Budhwani: Amount not specified
  • Advances returned by Mohamed Ali Budhwani: ₹1,00,00,000 (Closing balance: ₹1,27,42,500)
  • Remuneration to Shahnawaz Sayed: ₹1,10,000
  • Sitting fees to various directors ranging from ₹30,000 to ₹1,71,000

Additional Information

  • The company is primarily engaged only in the business of Sports Promotion with no separate reportable segments.
  • Figures for corresponding periods have been regrouped and rearranged wherever necessary for comparability.
  • The company's registered office is at 503, Shri Krishna Complex, Opp. Laxmi Industrial Estate, New Link Road, Andheri West, Mumbai-400053.