Summary of Key Information:
Reporting Period: Quarter and Financial Year ended March 31, 2026
Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI (LODR) Regulations, 2015
Audit Opinion:
Unmodified opinion with Emphasis of Matter regarding implementation of Resolution Plan and going concern basis
Key Financial Highlights [Amount in INR Lakhs]:
Standalone Results:
Revenue from Operations: ₹0.82 lakhs for year ended March 31, 2026 (no YoY comparison disclosed)
Total Income: ₹16.75 lakhs for year ended March 31, 2026 (previous year: ₹22.43 lakhs)
Net Profit: Loss of ₹158.88 lakhs for year ended March 31, 2026 (previous year: Loss of ₹130.37 lakhs)
EPS: Basic and Diluted ₹(0.77) for year ended March 31, 2026 (previous year: ₹(0.63))
Other Equity: Negative ₹185.33 lakhs as at March 31, 2026 (previous year: Negative ₹37,708.26 lakhs)
Cash and Cash Equivalents: ₹38.14 lakhs as at March 31, 2026 (previous year: ₹216.49 lakhs)
Debt: Financial liabilities include Borrowings of ₹310.52 lakhs (current) and Other financial liabilities of ₹2,342.13 lakhs (non-current)
Quarterly Performance:
Q4 FY26: Revenue from Operations ₹0.82 lakhs, Net Loss ₹33.26 lakhs
Q3 FY25: Revenue from Operations not disclosed, Net Loss ₹32.84 lakhs
Segment-wise Performance:
The Company operates in a single business segment - manufacture and sale of specialty chemicals. Segment reporting not applicable.
Corporate Actions:
No dividend declared or paid during the year
No share split, bonus issue, buyback, or capital structure change announced
Board Approvals:
1. Approved Standalone Audited Financial Statements for quarter and year ended March 31, 2026
2. Constitution of Nomination and Remuneration Committee with members:
- Mr. Bhupeshkumar Jain (Independent Director - Chairperson)
- Mr. Ruhini Kumar Chakraborty (Independent Director - Member)
- Ms. Muskaan Pherwani (Independent Director - Member)
3. Approved change of registered office address within local limits of same city/town/village
CIRP Status:
Company admitted into CIRP via NCLT order dated 5th December 2022 (IA 1512/2022 In C.P. (IB)/1738(MB)2017)
Resolution Plan submitted by Khitij Polyline Limited approved by CoC and NCLT on 31 July 2025
Resolution Plan Implementation:
Total resolution amount: ₹2,665 Lakhs
Payment towards creditors: ₹2,314 Lakhs
Capex & working capital: ₹351 Lakhs
Fresh unsecured loans introduced by Resolution Applicant
Equity restructuring carried out (extinguishment and reissuance of equity shares)
Resolution Applicant infused funds amounting to ₹2,342.13 Lakhs up to 31 March 2026
Other Regulatory Matters:
Company did not transfer ₹1.21 Lakhs Unpaid/Unclaimed Dividend for FY 2014-15 (₹0.39 Lakhs) and FY 2015-16 (₹0.82 Lakhs) to IEPF
No pending litigations materially impacting financial position
No fraud reported during the year
Other Significant Information:
Going Concern Assessment:
Management believes going concern assumption is appropriate considering successful implementation of Resolution Plan, continued infusion of funds by Resolution Applicant, and expected revival of operations
Operational Status:
Manufacturing operations remain suspended with minimal revenue generation (₹0.82 lakhs for FY26)
Management actively working towards recommencement of production activities
Auditor Change:
Previous statutory auditors Satya Prakash Natani & Co. resigned during the year
R. R. Tibrewala & Co. appointed as new statutory auditors
Property, Plant and Equipment:
Carrying value: ₹1,906.43 lakhs as at March 31, 2026 (previous year: ₹1,995.81 lakhs)
Capital work-in-progress: ₹20.17 lakhs
Title deeds of certain immovable properties remain/are in process of being released from mortgage to erstwhile lenders
#Tags:
#Sentiment: Negative