Key Financial Figures

  • Revenue from Operations: ₹4897.35 lakh (FY25: ₹8450.30 lakh)
  • Other Income: ₹198.69 lakh (FY25: ₹168.77 lakh)
  • Total Income: ₹5096.04 lakh (FY25: ₹8619.07 lakh)
  • EBITDA: (₹90.10) lakh (FY25: ₹50.61 lakh)
  • Finance Costs: ₹7.18 lakh (FY25: ₹7.01 lakh)
  • Depreciation & Amortization: ₹62.02 lakh (FY25: ₹78.95 lakh)
  • Exceptional Items (Employee retrenchment): ₹328.19 lakh (FY25: Nil)
  • Profit Before Tax: (₹487.49) lakh (FY25: (₹35.35) lakh)
  • Tax Expense: ₹42.73 lakh (FY25: (₹1.61) lakh)
  • Net Loss: ₹530.22 lakh (FY25: ₹33.74 lakh)
  • Other Comprehensive Income: (₹0.28) lakh (FY25: (₹9.16) lakh)
  • Total Comprehensive Loss: ₹530.50 lakh (FY25: ₹42.90 lakh)
  • EPS: (₹83.09) per share (FY25: (₹5.29) per share)
  • Paid-up Share Capital: ₹63.84 lakh (unchanged)
  • Cash & Cash Equivalents: ₹77.01 lakh (FY25: ₹244.86 lakh)

Operational Highlights

  • Production: 5,254 tons of Grinding Media (FY25: 9,539 tons)
  • Sales: 4,582 tons of Grinding Media (FY25: 9,650 tons)
  • Plant Closure: Manufacturing operations permanently closed at Bengaluru plant effective 15 December 2025
  • Workforce Reduction: Retrenched all employees except 8 essential staff for post-closure activities
  • Capacity Utilization: Significantly reduced due to plant closure in second half of financial year

Dates of Action

  • Board Resolution for Plant Closure: 15 October 2025
  • Plant Shutdown Date: 15 December 2025
  • Financial Year End: 31 March 2026
  • AGM Date: 10 September 2026 at 11:00 AM IST
  • E-voting Period: 7 September 2026 (9:00 AM) to 9 September 2026 (5:00 PM)
  • Cut-off Date for E-voting: 3 September 2026

Parties Involved

  • Stock Exchange: BSE Limited
  • Registrar & Share Transfer Agent: Bigshare Services Pvt. Ltd.
  • E-voting Agency: Central Depository Services (India) Limited (CDSL)
  • Statutory Auditors: Dagliya & Co., Chartered Accountants
  • Internal Auditors: Talati & Talati LLP
  • Secretarial Auditors: Tushar Vora & Associates
  • Scrutinizer for E-voting: Mr. Tushar M. Vora
  • Holding Company: AIA Engineering Ltd (74.85% shareholding)

Capital Structure Impact

  • No change in share capital during the year
  • No shares issued, bought back, or granted as stock options
  • Equity shares remain at 638,161 shares of ₹10 each

Cash Flow Implications

  • Operating Activities: Net cash inflow of ₹283.98 lakh
  • Investing Activities: Net cash outflow of ₹451.50 lakh
  • Financing Activities: Net cash outflow of ₹0.33 lakh
  • Net Decrease in Cash: ₹167.85 lakh
  • Dividend payment of ₹0.33 lakh (previous year: ₹16.23 lakh)

Related Party Transactions

  • Sales to AIA Engineering Ltd: ₹1077.93 lakh (FY25: ₹1025.76 lakh)
  • Purchases from AIA Engineering Ltd: ₹80.23 lakh (FY25: Nil)
  • All transactions conducted at arm's length basis
  • Contract Manufacturing Agreement with AIA Engineering Ltd effective from 1 January 2024 for 5 years

Corporate Governance

  • Compliance with all mandatory provisions of SEBI LODR Regulations
  • Board comprises 4 Non-Executive Non-Independent and 2 Independent Directors
  • 5 Board meetings and 4 Audit Committee meetings held during the year
  • Whistle Blower Policy and Vigil Mechanism in place
  • No fraud reported by auditors

Forward-looking Statements

  • No plans to resume operations in foreseeable future
  • No capital expenditure plans due to plant closure
  • Labor disputes pending before various courts and judicial forums
  • Financial statements prepared on non-going concern basis