Key Financial Figures (₹ in Lakhs)

For Financial Year Ended 31st March, 2026:

  • Total Income: ₹240.57
  • Total Expenses: ₹91.12
  • Profit Before Tax: ₹197.86
  • Tax Expenses: ₹47.15
  • Net Profit After Tax: ₹149.45
  • Earnings Per Share (Basic & Diluted): ₹6.55

Balance Sheet Position as at 31st March, 2026:

  • Total Assets: ₹3,824.59
  • Total Liabilities: ₹114.49
  • Net Worth: ₹3,710.10
  • Equity Share Capital: ₹228.15
  • Other Equity: ₹3,481.95
  • Bank Balance: ₹35.16
  • Cash Balance: ₹0.22

Comparative Figures (FY25):

  • Total Income: ₹240.57 (FY26) vs ₹59.85 (FY25)
  • Net Profit: ₹149.45 (FY26) vs ₹35.68 (FY25)

Cash Flow Statement

  • Net Cash from Operating Activities: (₹690.51)
  • Net Cash from Investing Activities: ₹232.19
  • Net Cash from Financing Activities: ₹2.97
  • Net Decrease in Cash: (₹455.35)
  • Opening Cash Balance: ₹490.73
  • Closing Cash Balance: ₹35.38

Audit Qualifications

The statutory auditors, M/s M.I Shah & Co (Firm Registration No. 119025W), issued a modified opinion with the following qualifications:

1. Non-compliance with Accounting Standards: The company has not complied with Indian Accounting Standard (IndAS-19) on "Employee Benefits" regarding non-provisioning of employee benefits. The financial impact is not ascertainable.

2. Electricity Deposit Matter: A deposit of ₹2,14,04,744/- paid under protest to the electricity department is pending appeal before the Hon'ble High Court of Gujarat. Management has not recognized any interest income due to uncertainty of outcome. This is the third time this qualification has appeared.

3. Going Concern Basis: Management continues to identify new business projects and partnerships for deployment of proceeds from factory land sale, but no definitive business plan has been finalized. However, based on positive net worth position, financial statements are prepared on going concern basis.

4. Audit Trail Facility: The accounting software used by the company has no feature of recording audit trail (edit log) facility as required.

Management's Response

In the Statement on Impact of Audit Qualifications:

  • For electricity deposit: Management is confident of favorable judgment and refund with interest
  • For going concern: Management is identifying value-enhancing business opportunities but process may take additional time
  • Impact of qualifications on financial statements is not ascertainable