Independent Auditor's Review Report on Quarterly Unaudited Financial Results

Financial Results Summary (Quarter Ended June 30, 2026)

  • Revenue From Operations: ₹20.21 lakhs
  • Other Income: ₹0.00 lakhs
  • Total Income (Net): ₹20.21 lakhs
  • Total Expenses: ₹5.36 lakhs (Employee benefits: ₹0.53 lakhs, Other Expenses: ₹4.84 lakhs)
  • Profit Before Tax: ₹14.85 lakhs
  • Tax Expenses: ₹0.00 lakhs (Current Tax: ₹0.00 lakhs, Deferred Tax: ₹0.00 lakhs)
  • Net Profit for the period: ₹14.85 lakhs
  • Earnings Per Share (Basic & Diluted): ₹0.34

Comparative Financial Performance

Preceding Quarter (March 31, 2026): Net Profit ₹5.81 lakhs, EPS ₹0.13

Year-ago Quarter (June 30, 2025): Net Loss ₹0.50 lakhs, EPS ₹(0.01)

Year to Date (March 31, 2026): Net Profit ₹1.50 lakhs, EPS ₹0.03

Capital Structure

  • Paid-up Equity Share Capital: ₹441.92 lakhs (unchanged from previous periods)
  • Face Value per Equity Share: ₹10.00
  • Reserves excluding revaluation reserves: ₹0.00 lakhs (previous year: ₹(131.22) lakhs)
  • Debt Securities: ₹0.00 lakhs

Auditor's Emphasis of Matter

1. Loans and Advances Recovery Concerns:

  • Company has provided Loans and Advances of ₹275.67 lakhs outstanding since long period
  • No balance confirmation received from parties during audit
  • Auditor unable to form opinion on recoverability of these loans
  • Management recorded Interest Income on these loans despite non-compliance with RBI NPA norms
  • Company has not followed RBI NPA norms for provisioning on these loans since long

2. Income Tax Demand:

  • Outstanding demand of ₹529.75 lakhs towards income tax department
  • Company failed to provide documentary evidence about forum where proceedings are pending
  • Auditor unable to verify duration and quantum of amount payable or possibility of payment

3. Investments Verification Issues:

  • Auditor unable to obtain sufficient evidence to verify correctness and existence of investments as at June 30, 2026
  • Detailed records and physical verification statements not presented
  • Reliable value and supporting documents relating to investments not provided
  • Auditor relied upon management's representations and management letter

Regulatory Framework

  • Prepared in accordance with Ind AS 34 "Interim Financial Reporting" prescribed under Section 133 of Companies Act, 2013
  • Review conducted under Standard on Review Engagement (SRE) 2410 issued by ICAI
  • Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Auditor's Conclusion

Based on review, nothing has come to attention that causes belief that the financial results are not prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standards and that they contain any material misstatement. However, the conclusion is qualified by the emphasis of matter paragraphs.