Key Financial Figures (₹ in Lakhs)

Quarter Ended September 30, 2026 (Unaudited):

  • Total Income: ₹90.91
  • Total Expenses: ₹141.94
  • Loss Before Exceptional Items: (₹51.03)
  • Loss After Exceptional Items: (₹51.03)
  • Total Comprehensive Loss for the Period: (₹51.03)
  • Basic & Diluted EPS: (₹8.00)

Half Year Ended September 30, 2026 (Unaudited):

  • Total Income: ₹4,421.45
  • Total Expenses: ₹4,501.00
  • Loss Before Exceptional Items: (₹79.55)
  • Exceptional Items - Expenses: ₹299.24
  • Loss After Exceptional Items: (₹378.79)
  • Total Tax Expenses: (₹26.21)
  • Loss for the Period: (₹352.58)
  • Total Comprehensive Loss for the Period: (₹358.70)
  • Basic & Diluted EPS: (₹55.25)

Comparative Figures (Year Ended March 31, 2026 - Audited):

  • Total Income: ₹5,096.04
  • Total Expenses: ₹5,255.34
  • Loss Before Exceptional Items: (₹159.30)
  • Loss After Exceptional Items: (₹487.49)
  • Total Tax Expenses: ₹42.73
  • Loss for the Year: (₹530.22)
  • Total Comprehensive Loss for the Year: (₹530.50)
  • Basic & Diluted EPS: (₹83.08)

Operational Status and Exceptional Items

The Board of Directors passed a resolution on October 15, 2025, to permanently close its only manufacturing plant in Bengaluru. The plant was formally shut down from December 15, 2025, and the Factory Licence and sanctioned power facilities were surrendered. There has been no change in this operational status during the quarter. Due to pending labor disputes before various courts and judicial forums, management intends to maintain the status quo with no plans to recommence operations. Consequently, the financial statements are prepared on a non-going concern basis.

Exceptional expenditure of ₹299.24 lakhs for the previous financial year represents closure compensation paid to employees pursuant to the permanent closure, in accordance with the Industrial Relations Code, 2020.

Accounting Treatments (Non-Going Concern)

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

Segment and Customer Information

The company has no reportable operating segments as defined in Ind AS 108. During the current half year, no single customer contributed 10% or more of total revenue. However, ₹165.38 lakhs out of Other Operating Revenue of ₹168.06 lakhs is from a single customer, the holding company (AIA Engineering Limited). Other operating revenue represents proceeds from the sale of remaining inventories after the permanent closure.

Balance Sheet Highlights as of September 30, 2026 (Unaudited) vs March 31, 2026 (Audited) (₹ in Lakhs)

  • Total Assets: ₹3,425.52 (vs ₹3,560.05)
  • Non-Current Assets: ₹316.54 (vs ₹345.03)
  • Current Assets: ₹3,108.98 (vs ₹3,215.02)
  • Inventories: ₹254.29 (vs ₹407.67)
  • Investments: ₹2,568.44 (vs ₹2,381.00)
  • Cash & Cash Equivalents: ₹10.80 (vs ₹77.01)
  • Total Equity: ₹3,319.02 (vs ₹3,441.95)
  • Paid-up Equity Share Capital: ₹63.84 (unchanged)
  • Other Equity: ₹3,255.18 (vs ₹3,378.11)
  • Total Liabilities: ₹106.50 (vs ₹118.10)

Cash Flow Statement for Half Year Ended September 30, 2026 (Unaudited) (₹ in Lakhs)

  • Net Cash Used in Operating Activities: ₹31.76
  • Net Cash Used in Investing Activities: (₹97.58)
  • Net Cash Used in Financing Activities: (₹0.39)
  • Net Decrease in Cash and Cash Equivalents: (₹66.21)
  • Cash and Cash Equivalents at End of Period: ₹10.80