This is to inform you that the Board of Directors of the Company at their meeting held today i.e. Wednesday, August 06, 2025, has inter alia considered and approved the following: 1.Unaudited ....
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The board approved unaudited standalone results for Q1 FY26 (quarter ended June 30, 2025). Total income came in at Rs 47.74 lakhs versus Rs 102.10 lakhs in the same quarter last year, and revenue from operations turned negative at Rs (29.69) lakhs. Net profit was Rs 18.15 lakhs, recovering from a loss of Rs 104.66 lakhs in Q1 FY25, but the prior full-year numbers were boosted by a one-time exceptional item of Rs 3,506.85 lakhs. In a critical disclosure (Note 2), the company itself states it is no longer a going concern: accumulated losses of Rs 630.80 lakhs have fully eroded net worth, liabilities exceed assets, and there is no operating business or cash flow of its own. The statutory auditor flagged this in the limited review report (Emphasis of Matter) but did not modify their opinion. Additionally, CFO Sagar Jaiswal resigned (effective August 31, 2025) to start his own CA practice, and Ms. Harshida J. Parikh was appointed as Company Secretary and additionally as Manager, subject to shareholder approval.
This is a major red flag for shareholders: management has formally declared the company is no longer a going concern, net worth is fully eroded, and there is no operating business. The resignation of the CFO and the appointment of a company secretary as Manager further underscore the lack of operational activity. Stock price may face pressure, and the stock is a high-risk, speculative holding pending clarity on any revival or restructuring plan.