Summary of Key Information:

Reporting Period: Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Financial Results Approval

Audit Opinion:

Qualified Conclusion by Statutory Auditors M/s. D E V A M & ASSOCIATES LLP

Key Financial Highlights [Rs. in Lakhs]:

Standalone Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: Rs 1,497.56 lakhs (vs Rs 2,103.10 lakhs in Q2 FY26)
  • Total Income: Rs 1,497.56 lakhs
  • Net Profit: Rs 26.94 lakhs (vs Rs 56.60 lakhs in Q2 FY26)
  • EPS: Rs 0.02

Half Year Ended September 30, 2026:

  • Revenue from Operations: Rs 2,370.64 lakhs (vs Rs 4,647.86 lakhs in H1 FY26)
  • Total Income: Rs 2,370.64 lakhs
  • Net Profit: Rs 60.06 lakhs (vs Rs 152.25 lakhs in H1 FY26)
  • EPS: Rs 0.04

Balance Sheet Position (as at September 30, 2026):

  • Equity Share Capital: Rs 14,228.04 lakhs
  • Other Equity: Negative Rs (38,897.72) lakhs
  • Total Equity: Negative Rs (24,669.68) lakhs
  • Total Borrowings: Rs 21,546.58 lakhs (Current Rs 18,282.42 lakhs + Non-current Rs 3,264.16 lakhs)
  • Cash and Cash Equivalents: Rs 69.22 lakhs
  • Total Assets: Rs 15,052.26 lakhs

Consolidated Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: Rs 1,586.68 lakhs
  • Total Income: Rs 1,586.68 lakhs
  • Net Profit: Rs 30.75 lakhs
  • EPS: Rs 0.02

Half Year Ended September 30, 2026:

  • Revenue from Operations: Rs 2,470.75 lakhs
  • Total Income: Rs 2,470.75 lakhs
  • Net Profit: Rs 74.56 lakhs
  • EPS: Rs 0.05

Balance Sheet Position (as at September 30, 2026):

  • Equity Share Capital: Rs 14,228.04 lakhs
  • Other Equity: Negative Rs (39,049.17) lakhs
  • Total Equity: Negative Rs (24,821.13) lakhs
  • Total Borrowings: Rs 22,026.50 lakhs (Current Rs 18,282.42 lakhs + Non-current Rs 3,744.08 lakhs)
  • Cash and Cash Equivalents: Rs 140.22 lakhs
  • Total Assets: Rs 15,832.27 lakhs

Segment-wise Performance:

The Company operates in a single segment namely Pipes. Segment revenue for H1 FY27:

  • Sale of Products in India: Rs 896.28 lakhs
  • Sale of Services in India: Rs 598.81 lakhs
  • Sale of Products Outside India: Rs 341.31 lakhs
  • Total Revenue from Operations: Rs 1,836.40 lakhs

Corporate Actions:

No dividend declarations, share splits, bonus issues, buybacks, or capital raising activities announced.

Other Significant Information:

1. Going Concern: Company has negative net worth of Rs (24,669.68) lakhs (standalone) and Rs (24,821.13) lakhs (consolidated) but continues to prepare financial statements on going concern basis based on management's revival plans.

2. Inventory Valuation: Inventory valued at Rs 897.98 lakhs using weighted average cost method, but valuation done manually without system-generated reports.

3. Balance Confirmations: Trade receivables, payables, loans, and advances balances subject to reconciliation. Direct confirmations not sent to all parties.

4. Provision Write-back: Company written back provisions totaling Rs 160.25 lakhs during quarter and half-year ended September 30, 2026, recognized under Other Income.

5. Frozen Bank Accounts: Provision of Rs 40.99 lakhs made for non-operating frozen bank accounts without confirmations.

6. Foreign Exchange Gain: Other Income includes foreign exchange gain of Rs 98.36 lakhs for quarter and Rs 260.50 lakhs for half-year ended September 30, 2026.

7. Public Deposit Non-compliance: Company has not complied with provisions of Section 74 of Companies Act, 2013 regarding non-repayment of public deposits and interest.