We are submitting outcome of Board Meeting for Unaudited Financial Result 30.06.2025, Reappointment of Internal Auditor and Appointment of Secretarial Auditor
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The board approved unaudited standalone results for Q1 FY26 (quarter ended June 30, 2025). Revenue came in at just ₹3.25 lakhs, down sharply from ₹9.75 lakhs in the same quarter last year, while the net loss widened to ₹18.96 lakhs (from a ₹13.46 lakh loss in Q1 FY25). Basic EPS stood at minus ₹0.38 and accumulated reserves were negative at ₹(750.33) lakhs. The board reappointed M/s. Shailesh Shringi & Company as Internal Auditor for one year and appointed M/s. Shrenik Nagaonkar & Associates as Secretarial Auditor for five years, subject to shareholder approval. The statutory auditor (Palsule and Associates) issued an unqualified limited review report. The company has no bank borrowings, no debt defaults, and the Shipyard segment was the only revenue contributor (Fishery generated zero revenue).
Shrinking revenue (down ~67% YoY) and widening losses signal continued operational weakness, but the zero-debt balance sheet limits near-term solvency risk. The auditor appointments are routine and do not indicate governance concerns.