Re-Appointment of Internal Auditor for FY 2026-27.
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The company held its Board meeting on May 29, 2026 and approved audited financial results for Q4 and FY26 ending March 31, 2026. Standalone revenue grew marginally to Rs. 2,327.64 lakh from Rs. 2,207.76 lakh in FY25 (5.4% growth), but losses widened significantly to Rs. 1,021.78 lakh from Rs. 935.76 lakh in FY25. Consolidated loss stood at Rs. 1,007.16 lakh for FY26. The company also reappointed M/s Daver Sikri & Co. as internal auditor for FY 2026-27. Statutory auditors issued an un-modified (clean) opinion on the financial statements. No deferred tax assets were recognized due to carried forward business losses and unabsorbed depreciation. Subsidiaries in Germany (winding up) and Canada (disinvestment process) contributed nil revenue and Rs. 13.94 lakh loss.
The company continues to report significant losses with negative operating cash flow of Rs. 923 lakh, though revenue shows modest growth. The clean audit opinion provides some comfort, but persistent losses and going concern risks warrant close monitoring.