Financial Performance (₹ in lakhs)

Quarter Ended June 30, 2026 (Unaudited):

  • Total Income: ₹168.16
  • Revenue from operations: ₹0.00
  • Other operating income: ₹121.69
  • Other Income: ₹46.47
  • Total Expenses: ₹240.06
  • Cost of material consumed: ₹108.37
  • Employee benefits expense: ₹49.02
  • Finance costs: ₹0.44
  • Depreciation & amortisation expenses: ₹9.54
  • Other expenses: ₹72.69
  • Loss before tax: (₹71.90)
  • Tax Expenses: ₹0.00
  • Loss for the period: (₹71.90)
  • Other Comprehensive Income/Loss: ₹0.00
  • Total Comprehensive Loss: (₹71.90)
  • Basic EPS: (₹11.27)
  • Diluted EPS: (₹11.27)

Comparative Figures:

  • Quarter Ended March 31, 2026 (Audited): Profit of ₹138.09
  • Quarter Ended June 30, 2025 (Unaudited): Loss of (₹29.42)
  • Year Ended March 31, 2026 (Audited): Loss of (₹530.22)

Capital Structure

  • Paid-up Equity Share Capital: ₹63.82 lakh (Face Value of ₹10 each)
  • Other equity: ₹3378.11 lakh

Operational Status and Significant Notes

Plant Closure: The Board of Directors passed a resolution on October 15, 2025, to permanently close its only plant in Bengaluru. The plant formally shut down from December 15, 2025, with Factory Licence and sanctioned power facilities surrendered.

Non-Going Concern Basis: Financial statements are prepared on a non-going concern basis due to permanent closure of manufacturing operations and pending labor disputes before various courts. Management intends to maintain status quo with no plans to recommence operations in the foreseeable future.

Asset Valuation:

  • All non-financial assets measured at lower of carrying value and fair value less costs to sell
  • Financial assets recognized at fair value or amortised cost adjusted for any loss allowances
  • Liabilities recognized at expected settlement values
  • No adjustments for contingent liabilities considered not probable
  • No deferred tax asset/liability recognized due to absence of probable sufficient future taxable income

Customer Concentration: Other operating revenue of ₹121.69 lakh includes ₹119.36 lakh from a single customer (holding company AIA Engineering Limited, which holds 74.85% of share capital).

Exceptional Items: Previous financial year included exceptional expenditure of ₹328.19 lakh representing closure compensation paid to employees pursuant to Industrial Relations Code, 2020.

Auditor Review

Statutory auditors (Dagliya & Co.) conducted limited review and expressed unmodified conclusion. They emphasized the matter of non-going concern basis preparation but did not modify their opinion.