Board Meeting Outcomes

The Board of Directors at its meeting held on 25th May, 2026 (11:00 a.m. to 07:30 p.m.) approved:

1. Audited Financial Results (Standalone) for the quarter and year ended 31st March, 2026

2. Appointment of M/s. Priti J Sheth & Associates as Secretarial Auditor for conducting secretarial audit for Financial Year 2025-26

Financial Results Summary

For Year Ended 31st March, 2026:

  • Total Revenue: ₹4.49 lakh (Previous year: ₹4.27 lakh)
  • Total Expenses: ₹17.49 lakh (Previous year: ₹48.44 lakh)
  • Loss before tax: ₹13.01 lakh (Previous year: ₹44.17 lakh)
  • Tax expense: ₹(1.14) lakh (Previous year: ₹(1.15) lakh)
  • Net Loss: ₹11.86 lakh (Previous year: ₹43.02 lakh)
  • Basic Earnings per share: ₹(0.17) (Previous year: ₹(0.60))
  • Paid-up Equity Share Capital: ₹715.66 lakh (71,56,600 equity shares of ₹10 each)

For Quarter Ended 31st March, 2026:

  • Total Revenue: ₹1.01 lakh
  • Loss before tax: ₹2.68 lakh
  • Net Loss: ₹2.39 lakh
  • Basic Earnings per share: ₹(0.03)

Balance Sheet Position (as at 31st March, 2026)

  • Total Assets: ₹656.43 lakh (Previous year: ₹653.62 lakh)
  • Current Assets: ₹265.60 lakh (including Cash & Cash equivalents: ₹2.15 lakh, Bank balances: ₹67.78 lakh)
  • Shareholders' Funds: ₹(1022.08) lakh (Negative) (Previous year: ₹(1010.22) lakh)
  • Current Liabilities: ₹1607.83 lakh (including Borrowings: ₹1574.61 lakh)
  • Other Equity: ₹(1753.44) lakh (Negative) (Previous year: ₹(1741.58) lakh)

Auditor's Report Emphasis Matters

G.P. Sharma & Co. LLP issued an unmodified opinion but highlighted:

Material Uncertainty Related to Going Concern:

  • Company has been continuously incurring losses since last several years
  • Net worth stands substantially eroded
  • Company's ability to continue is dependent on generation of cash flows, profits from order execution, and ability to infuse requisite funds

Other Emphasis Matters:

1. Overdue Trade Receivables of ₹361.97 lakh considered doubtful for recovery - no provision made as management expects recovery

2. Advances and Deposits of ₹140.19 lakh considered doubtful for recovery - no provision made as management expects recovery

3. Certain legal disputes and claims under arbitration proceedings - outcome may significantly impact loss and net worth (amount not ascertainable)

4. Financials of Joint Venture M/s Diviniti & DKS (JV) for FY 2024-25 and 2025-26 not available

Secretarial Auditor Appointment

  • M/s. Priti J Sheth & Associates appointed as Secretarial Auditor on 25th May, 2026
  • Term: For conducting Secretarial Audit for FY 2025-26
  • Brief Profile: Firm with over 16 years experience in Corporate and Secretarial Compliance

Key Financial Notes

1. Trade Receivables: ₹361.97 lakh under dispute, considered doubtful but no provision made

2. Other Current Assets: ₹140.19 lakh (Deposits with others ₹49.67 lakh + Money with Rajasthan Urban Infrastructure Development ₹90.52 lakh) - confirmations not available

3. Borrowings: ₹1574.61 lakh from related parties (repayable on demand, not demanded during year)

4. Statutory Dues: Undisputed TDS payable of ₹2.30 lakh for FY 2024-25 outstanding for more than 6 months

5. Disputed Income Tax: ₹87.40 lakh and ₹39.66 lakh for FY 2018-19 under rectification/appeal

6. Related Party Transactions: Loans taken from Vardhman group entities

7. Internal Audit: Company does not have an internal audit system established

8. Cash Losses: Incurred cash losses of ₹8.15 lakh in FY 2026 and ₹39.32 lakh in FY 2025

Additional Information

  • Company's principal activity: Precast prestress concrete including construction works
  • Results available on company website: https://www.vardhmanconcreteltd.com/