Outcome of Board Meeting held today i.e. Thursday, 28th May, 2026 and Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015
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The board approved audited financial results for half year and full year ending 31 March 2026. Revenue from operations fell sharply to Rs 600.87 lakh from Rs 1,915.37 lakh in the prior year, a decline of about 69%. The company posted a net loss of Rs 334.83 lakh, narrower than the prior year's loss of Rs 376.99 lakh. Basic and diluted EPS stood at -9.21 per share. The company operates in the retail of pre-owned luxury cars segment. Statutory auditors D G M S & Co. issued an unmodified opinion. Two new auditor appointments were made — M/s. Gaurav Bachani & Associates as Secretarial Auditor for FY 2025-26 and M/s. Maharishi Shandilya as Internal Auditor for FY 2026-27. The company also filed a statement on IPO fund utilisation — Rs 1,243 lakh raised via IPO on 10 May 2024 is being deployed as planned with no deviations: Rs 500 lakh for software purchase, Rs 500 lakh for working capital, and Rs 243 lakh for general corporate purposes, with ~Rs 8.21 lakh still parked in ICICI escrow.
Sharply lower revenue raises concerns about business traction, though narrowing losses and clean audit opinion provide some comfort. The IPO fund utilisation statement with no deviations is a positive signal on governance.