The Board has approved un-audited financial results for the second quarter ended 30th September, 2025 along with LRR.
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The Board approved unaudited financial results for Q2 FY26 (quarter ended 30 September 2025). Revenue from operations stood at Rs. 931.20 lakhs with EPS of Rs. 0.004, compared to Rs. 0.002 in Q2 FY25 (which had posted losses). Total assets were Rs. 1,770.80 lakhs, of which non-moving inventories of Rs. 1,648.18 lakhs make up 93% of the balance sheet. The auditor (M Sahu & Co) issued a Disclaimer of Conclusion, unable to verify the results due to missing documents for Rs. 113.67 lakhs of investments, a stale May 2023 inventory valuation, and an unprovided income tax demand of Rs. 357.63 lakhs for AY 2017-18. The auditor flagged a material uncertainty on going concern and an Emphasis of Matter noting that CBDT has frozen the company's bank account over the unpaid tax demand. Separately, the Board re-appointed Mr. Anirudh Sethi as Managing Director for 5 years and called an EGM on 12 December 2025.
This is a high-risk filing. The auditor's disclaimer, bank account freeze, Rs. 357.63 lakhs unprovided tax liability, and 93% of assets stuck in non-moving inventories collectively raise serious concerns about the company's solvency and going concern status. Shareholders should expect potential liquidity disruptions and heightened risk of further asset value erosion.