Key Financial Figures

Standalone Financial Results (₹ in lakhs):

  • Quarter Ended September 30, 2026:
  • Total Income: ₹83.97
  • Total Expenses: ₹362.02
  • Loss before exceptional items and tax: ₹(278.05)
  • Exceptional items: ₹(2,097.43)
  • Loss before tax: ₹(2,375.48)
  • Deferred Tax Asset: ₹612.01
  • Loss after tax: ₹(1,763.47)
  • Share of profit from associates: ₹2.90
  • Final Loss after comprehensive income: ₹(1,760.57)
  • Basic EPS: ₹(4.16)
  • Diluted EPS: ₹(4.16)
  • Half Year Ended September 30, 2026:
  • Total Income: ₹205.66
  • Total Expenses: ₹785.48
  • Loss before exceptional items and tax: ₹(579.82)
  • Exceptional items: ₹(2,097.43)
  • Loss before tax: ₹(2,677.25)
  • Deferred Tax Asset: ₹692.57
  • Loss after tax: ₹(1,984.68)
  • Share of profit from associates: ₹11.58
  • Final Loss after comprehensive income: ₹(1,973.10)
  • Basic EPS: ₹(4.66)
  • Diluted EPS: ₹(4.66)

Consolidated Financial Results (₹ in lakhs):

  • Quarter Ended September 30, 2026:
  • Loss after comprehensive income: ₹(1,760.26)
  • Basic EPS: ₹(4.16)
  • Diluted EPS: ₹(4.16)
  • Half Year Ended September 30, 2026:
  • Loss after comprehensive income: ₹(1,973.10)
  • Basic EPS: ₹(4.66)
  • Diluted EPS: ₹(4.66)

Exceptional Items

The company impaired ₹209.74 crore (₹20.97 crore) during the quarter for full impairment of security deposit from Vidya Bharti Samiti, which closed its only school in Jaipur and is unable to abide by arbitration award terms.

Legal Proceedings

Ongoing Legal Matters:

1. Forensic Audit: Economic Offence Wing of Mumbai Police conducting forensic audit for period FY2011-12 to 2017-18

2. Vadodara Property Dispute:

  • Received summons on March 22, 2024 and March 30, 2024 from Vadodara court
  • FIR filed on February 26, 2025 by Vadodara Detection of Crime Branch
  • Two independent directors arrested on March 2, 2025 from Mumbai
  • Regular bail granted on March 10, 2025
  • Anticipatory bail granted to independent directors (March 10, 2025) and executive directors/company secretary (March 20, 2025)
  • Gujarat High Court granted interim relief on March 20, 2025, restraining police from coercive action

Security Deposit Recovery

Mira Education Trust:

  • Refundable security deposit: ₹136.18 crore (as per Facilitation Service Agreement dated March 1, 2012)
  • Received during quarter: ₹2.50 lakh
  • Total received till September 30, 2026: ₹17.95 crore
  • Outstanding debtors: ₹4.98 crore (invoiced ₹1.75 crore for period ended September 30, 2026, recovered ₹3.80 lakh)

Vidya Bharti Samiti:

  • Arbitration award for ₹29 crore (minimum guarantee charges and security deposit refund)
  • Received letter dated April 10, 2026 about closure of only school in Jaipur
  • Total impairment: ₹29 crore (₹9.98 crore impaired in earlier years, ₹20.97 crore impaired this quarter)
  • Company preparing to initiate legal action

Associates and Joint Ventures

Consolidated results include:

  • JT Infrastructure Private Limited (Associate Company, 50%)
  • Aaviv Tutorials LLP (Capital Investment 51%)
  • Aaviv Tutorials (Capital Investment in Partnership Firm 51%)

Capital Structure

  • Paid-up equity share capital: ₹4,231.00 lakh (face value ₹10 per share)
  • Reserves excluding revaluation reserves: ₹14,480.19 lakh (as of March 31, 2026)

Cash Flow

  • Net cash generated from operating activities: ₹25.69 lakh (Q2 FY2027)
  • Net cash used in investing activities: ₹(1.58) lakh (Q2 FY2026)
  • Net cash from financing activities: ₹(22.87) lakh (Q2 FY2027)
  • Cash and cash equivalents as at September 30, 2026: ₹4.68 lakh

Board Meeting Details

  • Date: October 23, 2026
  • Time: 4:00 PM to 4:40 PM
  • Business: Approved unaudited financial results for quarter and half year ended September 30, 2026