The Board of Director of the Company also approved the Scheme of reduction of share capital of the Company.
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The Board of Grandma Trading & Agencies approved a Scheme of Capital Reduction under Section 66 of the Companies Act, 2013, to reduce paid-up equity capital by 90% — from Rs. 13.06 crore (13.06 crore shares of Re.1 each) to Rs. 1.30 crore (1.30 crore shares of Re.1 each). The reduction is aimed at writing off accumulated losses of Rs. 11.75 crore reflected in the debit balance of the Profit & Loss account. The scheme requires approvals from shareholders, SEBI, BSE, and the NCLT Mumbai Bench. Separately, the auditor (Singhvi & Sancheti) issued a qualified opinion on FY25 results, flagging insufficient evidence supporting a Rs. 115.49 lakh loan and advances write-off treated as an exceptional item. The company reported a sharp swing to a net loss of Rs. 145.38 lakh in FY25 versus Rs. 2.48 lakh loss in FY24, with revenue rising modestly from Rs. 11.22 lakh to Rs. 28.99 lakh on a very small base.
Shareholders will see their holdings reduced to 10% of current count (100 shares become 10 shares), though percentage ownership stays the same. The qualified audit opinion and steep loss signal serious financial weakness — net worth has collapsed to just Rs. 6.96 lakh against Rs. 13.06 crore of share capital, raising going-concern concerns and likely negative stock price reaction.