Financial Performance Summary

Standalone Financials (₹ lakhs):

  • Income from Business Operations: Nil (100% decline from previous year)
  • Other Income: Nil
  • Total Expenses: ₹28.20 lakhs (up from ₹16.85 lakhs in FY25)
  • Net Loss: ₹28.20 lakhs (vs. ₹16.85 lakhs loss in FY25)
  • EPS: -₹1.88 (vs. -₹1.12 in FY25)

Consolidated Financials (₹ lakhs):

  • Total Income: ₹0.01 lakh (vs. ₹0.10 lakh in FY25)
  • Total Expenses: ₹28.25 lakhs (vs. ₹16.89 lakhs in FY25)
  • Net Loss: ₹28.23 lakhs (vs. ₹16.79 lakhs loss in FY25)
  • EPS: -₹1.88 (vs. -₹1.12 in FY25)

Key Operational Highlights

  • Company reported zero turnover in FY25-26 with 100% decline compared to previous financial year
  • Operations affected by COVID-19 pandemic impacting ability to execute works
  • Company continued to evaluate business opportunities in commodities and allied sectors
  • Number of employees as at March 31, 2026: 6

Subsidiary Performance

  • PT. Virya Resources Indonesia (99.99% subsidiary) continued to study evolving market opportunities
  • Subsidiary financials: Share capital ₹209.69 lakhs, Reserves & surplus ₹0.62 lakhs, Total assets ₹209.76 lakhs
  • Subsidiary turnover: ₹0.96 lakhs

Corporate Governance Updates

Board of Directors:

  • Mr. Candra Winoto Salim (Director, DIN: 09737531)
  • Mr. Sukhdev Singh (Director cum CFO, DIN: 08623180) - retires by rotation, offers himself for re-appointment
  • Mr. V V Subrahmanyam (Director, DIN: 01029479)
  • Mr. Arudji Kiswanto (Independent Director, DIN: 09440724)
  • Mr. Harry Tri Respati (Independent Director, DIN: 11175947)
  • Mrs. M.V. Subbalakshmi (Women Director, DIN: 11270955) - retires by rotation, does not offer herself for re-appointment

Key Managerial Personnel Changes:

  • Mr. B S Bhaskar resigned as Company Secretary & Compliance Officer effective May 21, 2026
  • Board in process of appointing suitable candidate in accordance with Section 203 of Companies Act, 2013

Board Meetings:

  • Six meetings held during FY25-26 on: May 30, 2025; July 1, 2025; August 14, 2025; September 2, 2025; November 11, 2025; February 14, 2026
  • All directors attended all meetings except Mrs. M.V. Subbalakshmi (attended 2 of 6) and Mr. Harry Tri Respati (attended 4 of 6)

Dividend and Reserves

  • No dividend recommended due to losses incurred
  • No amount transferred to reserves for the year ending March 31, 2026

Capital Structure

  • Authorized Share Capital: 16,500,000 equity shares of ₹10 each (₹165 lakhs)
  • Issued, Subscribed and Paid-up: 1,500,000 equity shares of ₹10 each fully paid up (₹150 lakhs)
  • No change in share capital during financial year 2025-26
  • 80.76% of company's shares dematerialized as of March 31, 2026

AGM Details

  • 40th Annual General Meeting to be held on September 29, 2026 at 4:00 PM through Video Conferencing
  • Cut-off date for determining members entitled to vote: September 18, 2026
  • Book closure: September 19, 2026 to September 28, 2026 (both days inclusive)
  • Remote e-voting period: September 21, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)

Auditor Appointments

Statutory Auditors:

  • M/s. N G Rao & Associates, Chartered Accountants continue as auditors
  • Appointed at 36th AGM for term of five years until conclusion of 41st AGM in 2027

Secretarial Auditor:

  • Ms. Putcha Sarada, Company Secretaries in Practice appointed for Secretarial Audit
  • Reported non-appointment of Internal Auditor during FY25-26

Related Party Transactions

  • All related party transactions entered at arm's length basis
  • No material contracts or arrangements with related parties requiring disclosure

Internal Financial Controls

  • Company maintains internal financial controls commensurate with size and nature of business
  • Auditors expressed unmodified opinion on adequacy and operating effectiveness of internal financial controls

Forward-looking Statements

  • Company positioned as natural resources and technology conglomerate focusing on large-scale expansion
  • Evaluating opportunities in commodities such as coal, copra, crude palm oil in India, Indonesia, Vietnam and other South-East Asian markets
  • Principal risks include commodity-price volatility, foreign-exchange movements, competition, and availability of finance