It is informed that meeting of Board of Directors of the Company was held today at 12:30 p.m (IST) at the head office of the Company and the following businesses amongst others were transacted ....
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The Board approved the standalone unaudited financial results for the quarter and half year ended September 30, 2025, which were also subjected to a limited review by the statutory auditor (Khiwani Sood & Associates) with an unmodified conclusion. The company disclosed a non-compliance with SEBI LODR Regulation 17(2) regarding the frequency of board meetings, with a 122-day gap between meetings. This was attributed to the prolonged illness of then-Managing Director Mr. Chander Mohan Marwah, who was abroad for treatment and unfortunately passed away on May 28, 2025; the company has paid the applicable penalty to BSE. Net sales from operations fell sharply to around Rs. 10.85 lakh in Q2 FY26 from Rs. 16.6 lakh in Q2 FY25, while the half-yearly figure stood at Rs. 33 lakh. The balance sheet shows negative other equity of Rs. (734.56) lakh, indicating accumulated losses, and the results were prepared on a going concern basis as the Board continues to evaluate new business opportunities.
Shareholders should note the continued revenue decline, the absence of a permanent Managing Director following the recent demise of Mr. Marwah, and ongoing reliance on accumulated losses — these factors may weigh on the stock. The board meeting lapses and SEBI penalty, while disclosed and explained, also raise minor corporate governance concerns.