Financial Performance Highlights

Consolidated Results (FY2026):
  • Revenue from operations: ₹0.41 lakhs
  • Total expenses: ₹157.33 lakhs (Employee benefits: ₹2.04 lakhs, Finance cost: ₹152.99 lakhs, Other expenses: ₹2.30 lakhs)
  • Net loss before tax: ₹(156.91) lakhs
  • Net loss after tax: ₹(156.91) lakhs
  • Attributable to owners: ₹(154.72) lakhs
  • Attributable to non-controlling interest: ₹(2.20) lakhs
  • Basic & diluted EPS: ₹(1.05)
  • Total comprehensive income: ₹(156.91) lakhs
Standalone Results (FY2026):
  • Total revenue: Not quantifiable from provided data
  • Total expenses: ₹157.01 lakhs (Employee benefits: ₹2.04 lakhs, Finance cost: ₹152.99 lakhs, Other expenses: ₹1.98 lakhs)
  • Net loss before tax: ₹(157.01) lakhs
  • Net loss after tax: ₹(157.01) lakhs
  • Basic & diluted EPS: ₹(1.05)
  • Total comprehensive income: ₹(157.01) lakhs
Quarterly Performance (Q4 FY2026 Consolidated):
  • Revenue from operations: ₹0.41 lakhs
  • Total expenses: ₹39.58 lakhs
  • Net loss before tax: ₹(39.17) lakhs
  • Net loss after tax: ₹(39.17) lakhs
  • Attributable to owners: ₹(38.62) lakhs
  • Attributable to non-controlling interest: ₹(0.55) lakhs
  • Basic & diluted EPS: ₹(0.26)

Audit Qualifications

The auditors, Khandelwal Ray & Co., issued a qualified opinion on both standalone and consolidated financial results. The qualifications relate to:

1. Non-provision of doubtful debts and assets totaling approximately ₹3,316.47 lakhs, including:

  • Non-current investments: ₹5.12 lakhs
  • Other non-current assets: ₹283 lakhs
  • Trade receivables: ₹3,010.57 lakhs
  • Loan to body corporate: ₹0.41 lakhs
  • Other financial assets: ₹227.73 lakhs
  • TDS receivable: ₹13.95 lakhs
  • Miscellaneous advance: ₹533.9 lakhs

2. Investment in subsidiary (Uniworth Biotech Limited): Carried at ₹4.93 lakhs on consolidated balance sheet, with share of net profit of ₹0.07 lakhs included in consolidated loss. Auditors were denied access to financial information, management, and auditor of the subsidiary.

3. No provision for interest on borrowings from Punjab National Bank, Indusind Bank, and HSBC Bank due to uncertainty. Interest provision made only on borrowings from Centurion Bank and Punjab & Sind Bank under simple interest method.

4. No recognition of deferred tax assets due to consistent losses and absence of future profit certainty.

Capital Structure

  • Paid-up equity share capital: ₹1,490.00 lakhs (consistent for both years)
  • Other equity (standalone): ₹(13,515.13) lakhs as of March 31, 2026
  • Non-controlling interest: ₹(0.42) lakhs

Cash Flow Statements

Standalone Cash Flow (FY2026):
  • Net cash flow from operating activities: ₹153.33 lakhs
  • Net cash flow from financing activities: ₹(152.99) lakhs (interest expense)
  • Net increase in cash & cash equivalents: ₹0.34 lakhs
  • Closing cash balance: ₹10.17 lakhs
Consolidated Cash Flow (FY2026):
  • Net cash flow from operating activities: ₹153.86 lakhs
  • Net cash flow from financing activities: ₹(152.99) lakhs (interest expense)
  • Net increase in cash & cash equivalents: ₹0.87 lakhs
  • Closing cash balance: ₹10.78 lakhs

Operational and Regulatory Context

  • The company's business activities have been suspended since long
  • Total number of employees is less than threshold stipulated under new Labour Laws effective from November 21, 2025
  • The company has applied to Reserve Bank of India for extension/set off of certain overdue bills and sale of certain investments
  • No notional income/expenditure accounted for foreign currency gain/loss on balance sheet date due to uncertainty in realization of export receivables

Management's Response to Audit Qualifications

Management believes no provisions are necessary for the qualified items, citing:

  • Appropriate steps taken for recovery of overdue export bills (₹3,010.57 lakhs)
  • Confidence in recovering security deposits (₹2.83 lakhs) and loans to body corporate (₹0.41 lakhs)
  • Pending final settlement with banks for settlement accounts and claims receivable (₹227.73 lakhs)
  • Confidence in recovering trade receivables (₹13.95 lakhs) and miscellaneous advances (₹53.39 lakhs)
  • No provision considered necessary for investment in sick and delisted company (₹5.12 lakhs)

Additional Information

  • Figures for last quarter are balancing figures between audited full year and published year-to-date figures up to 3rd quarter
  • Previous period figures have been regrouped/rearranged where necessary
  • The results are as per Clause 41 of the Listing Agreement