Board Meeting Details

The Board of Directors meeting was held on November 14, 2026, commencing at 3:00 PM and concluding at 4:10 PM. The meeting approved the unaudited standalone and consolidated financial results for the quarter ended September 30, 2026.

Financial Results - Standalone (₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹80.95
  • Other Income: ₹2.80
  • Total Income: ₹83.74
  • Total Expenses: ₹116.00
  • Loss Before Tax: ₹(32.26)
  • Tax Expense: Current Tax ₹(9.70), Deferred Tax ₹(3.93)
  • Loss After Tax: ₹(18.62)
  • Basic EPS: ₹(0.60)
  • Diluted EPS: ₹(0.60)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹331.28
  • Other Income: ₹5.82
  • Total Income: ₹337.10
  • Total Expenses: ₹315.91
  • Profit Before Tax: ₹21.19
  • Tax Expense: Current Tax ₹14.90, Deferred Tax ₹(8.36)
  • Profit After Tax: ₹14.65
  • Basic EPS: ₹0.47
  • Diluted EPS: ₹0.47

Comparative Period (Quarter Ended September 30, 2025):

  • Profit After Tax: ₹53.88
  • Basic EPS: ₹1.72

Financial Results - Consolidated (₹ in Lakhs)

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹93.09
  • Other Income: ₹5.85
  • Total Income: ₹98.94
  • Total Expenses: ₹152.64
  • Loss Before Tax: ₹(53.70)
  • Tax Expense: Current Tax ₹(9.70), Deferred Tax ₹(3.93)
  • Loss After Tax: ₹(40.07)
  • Basic EPS: ₹(1.28)
  • Diluted EPS: ₹(1.28)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹397.00
  • Other Income: ₹13.15
  • Total Income: ₹410.15
  • Total Expenses: ₹431.36
  • Loss Before Tax: ₹(21.21)
  • Tax Expense: Current Tax ₹14.90, Deferred Tax ₹(8.36)
  • Loss After Tax: ₹(27.75)
  • Basic EPS: ₹(0.89)
  • Diluted EPS: ₹(0.89)

Comparative Period (Quarter Ended September 30, 2025):

  • Profit After Tax: ₹18.13
  • Basic EPS: ₹0.58

Segment Reporting

The company has two reportable segments: (i) Construction Activity and (ii) Manufacturing of Food & Beverages.

Audit Qualifications and Review Findings

Statutory auditors Nimesh Mehta & Associates issued a qualified conclusion on both standalone and consolidated financial results citing five material weaknesses:

1. Expense Documentation: Certain expenses incurred through imprest arrangements lacked adequate documentary evidence and approvals, creating uncertainty about expense completeness and reliability.

2. Inventory Management: Company maintains inventory records through manual controls instead of integrated ERP system, preventing verification of inventory accuracy and valuation.

3. GST Compliance: Company availed Input Tax Credit on trade payables outstanding beyond 180 days without reversal as required under CGST Act, 2017 and Rule 37.

4. MSE Dues Compliance: Company failed to consider implications of Section 43B(h) of Income Tax Act regarding timely settlement of micro and small enterprise dues, potentially affecting tax provisions.

5. Employee Benefits: Company has not recognized gratuity liability as required under Ind AS-19, lacking actuarial valuation.

Emphasis of Matter

Auditors highlighted that the company has not been regular in depositing undisputed statutory dues including:

  • Income Tax for FY 24-25: ₹16.98 lakhs + ₹1.48 lakhs interest
  • TDS: ₹4.12 lakhs + ₹2.13 lakhs interest (standalone), ₹4.12 lakhs + ₹2.73 lakhs interest (consolidated)
  • Professional Tax: ₹0.41 lakhs

Other Matters

1. GST Non-compliance: Company has not filed GST returns since July 2026, risking GST registration suspension/cancellation and potential interest/penalties. No provision made for potential liabilities.

2. Subsidiary Review: Auditors did not review financial results of subsidiaries Vishvprabha & Lichade Buildcon Private Limited and Vishvprabha Foods Private Limited, which contributed revenues of ₹65.72 lakhs and net loss of ₹(42.40) lakhs for H1 FY27.

3. Director Resignation: Mr. Manish Prabhakar Patil (DIN: 09160437) resigned as Independent Director effective August 31, 2026 due to personal and unavoidable circumstances.

4. Bank Account Status: Company's bank account with Bank of Maharashtra, previously classified as NPA as of March 31, 2026, has been upgraded.

Capital Structure

Paid-up Equity Share Capital remains unchanged at ₹311.82 lakhs (Face Value ₹10 each) for all periods presented.