Key Financial Results (₹ in Lakhs)

Fourth Quarter (Q4 FY26)

  • Revenue from operations: ₹0.00
  • Other income: ₹0.01
  • Total revenue: ₹0.01
  • Total expenses: ₹28.50 (Employee benefits: ₹1.67, Depreciation: ₹21.71, Other expenditure: ₹5.12)
  • Loss before tax: ₹(28.49)
  • Net loss: ₹(28.58)
  • Basic & diluted EPS: ₹(0.58)

Full Year (FY26)

  • Revenue from operations: ₹0.00
  • Other income: ₹0.03
  • Total revenue: ₹0.03
  • Total expenses: ₹117.02 (Employee benefits: ₹7.69, Depreciation: ₹87.32, Other expenditure: ₹22.01)
  • Loss before tax: ₹(116.99)
  • Net loss: ₹(117.08)
  • Basic & diluted EPS: ₹(2.37)

Comparative Figures (FY25)

  • Net loss: ₹(141.43) lakhs
  • Basic & diluted EPS: ₹(2.86)

Auditor's Qualified Opinion

KR Aggarwal & Associates issued a qualified opinion with 8 specific qualifications:

1. No provision made for expected credit loss on trade receivables as per IND AS-109

2. Unable to verify inventory valuation, ageing, obsolescence, and impairment due to absence of appropriate stock records

3. No assessment of material uncertainty regarding going concern status

4. Actuarial valuation report not provided for employee benefits (non-compliance with IND AS-19)

5. No impairment assessment of property, plant & equipment as per IND AS-36

6. Short-term borrowings, long-term borrowings, trade payables, and other current liabilities subject to confirmation

7. Trade receivables, non-current assets, FDRs, bank balances, loans and advances subject to confirmation

8. All bank balances subject to confirmation as accounts categorized as NPA

Assets and Liabilities Position (as at March 31, 2026)

  • Equity share capital: ₹495.00 lakhs (face value ₹10 per share)
  • Other equity: ₹(2819.42) lakhs
  • Non-current financial liabilities: ₹582.55 lakhs (Borrowings: ₹572.27 lakhs, Other: ₹10.28 lakhs)
  • Current financial liabilities: ₹4074.53 lakhs
  • Total assets: ₹2331.65 lakhs
  • Current financial assets: ₹246.78 lakhs
  • Cash and cash equivalents: ₹0.24 lakhs

Cash Flow Statement (FY26)

  • Net cash from operating activities: ₹0.08 lakhs
  • Net cash from investing activities: ₹0.00
  • Net cash from financing activities: ₹0.00
  • Net change in cash & cash equivalents: ₹0.08 lakhs
  • Closing cash balance: ₹2.29 lakhs

Governance and Compliance

  • Board meeting held on May 28, 2026 (7:30 pm to 8:00 pm)
  • Updated Policy for determination of materiality of events approved
  • Financial results signed by Ms. Neelam Sharma, Director (DIN: 07656064)
  • Company Secretary: Charanjit Kaur
  • Statutory Auditors: KR Aggarwal & Associates (FRN: 030088N)

Additional Information

  • Company CIN: L27109PB1980PLC004327
  • Single reportable operating segment: steel manufacturing
  • Figures for last quarter are balancing figures between audited full year and published year-to-date figures