Board Meeting Details

The Board of Directors meeting commenced at 11:00 A.M. and concluded at 11:30 A.M. on August 07, 2026.

Key Decisions Approved

1. Unaudited Financial Results: The Board approved the Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended June 30, 2026.

2. Limited Review Report: The Board approved the Limited Review Report (Standalone & Consolidated) of the Company for the quarter ended June 30, 2026.

3. AGM Date Extension: The Board approved the extension of the date of Annual General Meeting (AGM) for the financial year 2025-26, subject to obtaining necessary approval from the Registrar of Companies.

4. Internal Auditor Appointment: The Board approved the appointment of M/s. Manisha Dubey & Associates as Internal Auditors of the Company for the financial year 2026-27.

Financial Results (Standalone)

Quarter Ended June 30, 2026 (Unaudited)

  • Revenue from operations: ₹6.00 lakh
  • Other income: ₹0.00
  • Total income: ₹6.00 lakh
  • Total expenses: ₹44.90 lakh
  • Employee benefits expense: ₹3.37 lakh
  • Finance costs: ₹28.95 lakh
  • Depreciation and amortization expense: ₹4.13 lakh
  • Other expenses: ₹8.45 lakh
  • Profit before tax: -₹38.90 lakh
  • Tax expense: ₹0.00
  • Profit for the period: -₹38.90 lakh
  • Total comprehensive income: -₹38.90 lakh
  • Earnings per share (basic and diluted): -₹0.05
  • Number of equity shares: 757.70 lakh (face value ₹10 each)

Comparative Figures (Standalone)

  • Quarter Ended March 31, 2026: Net loss of ₹45.70 lakh
  • Quarter Ended June 30, 2025: Net loss of ₹43.37 lakh

Other Expenses Breakdown (Standalone)

  • BSE Listing & Annual Custody fee: ₹4.93 lakh
  • Legal and Professional Charges: ₹2.98 lakh
  • Directors sitting fee: ₹0.15 lakh
  • Advertisement: ₹0.13 lakh
  • Office Expenses: ₹0.17 lakh
  • Rates, taxes and duties: ₹0.05 lakh
  • BSNL Fiber net: ₹0.02 lakh
  • Repairs and maintenance: ₹0.02 lakh
  • Telephone Expenses: ₹0.02 lakh
  • Total other expenses: ₹8.45 lakh

Financial Results (Consolidated)

Quarter Ended June 30, 2026 (Unaudited)

  • Revenue from operations: ₹6.00 lakh
  • Other income: ₹0.00
  • Total income: ₹6.00 lakh
  • Total expenses: ₹44.90 lakh
  • Employee benefits expense: ₹3.37 lakh
  • Finance costs: ₹28.95 lakh
  • Depreciation and amortization expense: ₹4.13 lakh
  • Other expenses: ₹8.45 lakh
  • Profit before tax: -₹38.90 lakh
  • Tax expense: ₹0.00
  • Profit for the period: -₹38.90 lakh
  • Total comprehensive income: -₹38.90 lakh
  • Earnings per share (basic and diluted): -₹0.05

Year Ended March 31, 2026 (Audited)

  • Total comprehensive income: -₹165.29 lakh
  • Earnings per share: -₹0.22

Internal Auditor Appointment Details

  • Name: M/s. Manisha Dubey & Associates, Chartered Accountants (Proprietor: Ms. Manisha Dubey)
  • Reason for change: Appointment
  • Date of appointment: August 07, 2026
  • Term: Financial year 2026-27
  • Profile: Ms. Manisha Dubey has more than 24 years of experience; the firm has extensive experience in internal audit and Internal Financial Controls reviews
  • Relationships: Not applicable

Legal and Regulatory Proceedings

1. Securities Appellate Tribunal (SAT): Matter adjourned from July 14, 2026 to August 17, 2026.

2. Appellate Tribunal (ED), New Delhi: Hearing against order passed by ED Adjudication Officer started; company's arguments heard on July 23, 2026; adjourned to September 10, 2026.

3. SBIRI/BIRAC: No further communication since last board meeting on November 14, 2025.

4. Nitin Didwania Matter: Order passed on July 8, 2026 requiring payment of ₹92,99,250 with 6% interest per annum on principal amount of ₹25 lakh. Company has filed appeal at Bombay High Court Commercial Division.

5. Customs & Excise Department: No further development since last board meeting.

6. NCLT: Matter came up for hearing on July 8, 2026 and adjourned to September 23, 2026.

7. Complaints: No complaints pending at beginning of quarter; no complaints received during quarter.

Audit Review

Auditors carried out limited review of financial results for quarter ended June 30, 2026. After approval by audit committee, results were passed by Board of Directors at meeting held on August 7, 2026.

Limited Review Reports

Standalone Financial Results: Vasavi & Co. issued limited review report stating nothing came to their attention causing belief that financial results contain material misstatement.

Consolidated Financial Results: Vasavi & Co. issued limited review report for consolidated results, which include subsidiary Transgene Biotek HK Ltd (with zero revenues and zero net loss for the quarter).

Subsidiary Information

Consolidated results include Transgene Biotek HK Ltd as a subsidiary. The subsidiary reported zero revenues and zero net loss for the quarter ended June 30, 2026.