Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (the 'Listing Regulations') as amended from time to time, This is to inform you ....
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The board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations was NIL, and the company reported a standalone loss after tax of Rs 10.28 lakhs (consolidated loss of Rs 11.13 lakhs) compared to a profit of Rs 27.90 lakhs (standalone) for the full year FY25. There has been no sale, purchase, or manufacturing activity in the current quarter or in FY25. The statutory auditor (Jain Paras Bilala & Company) issued an Adverse remark on the results, flagging material non-compliance with Ind AS standards across 11 areas including bank statement availability, deferred tax disclosures, employee benefits valuation, expected credit loss provisioning, and fair valuation of subsidiary investments.
This is a significant red flag for shareholders. The auditor's adverse opinion and explicit going-concern doubt, combined with NIL operations, NPA status with Canara Bank (which auctioned the company's hypothecated land), and the company being declared an NPA, suggest serious operational and financial distress. Shareholders should expect heightened risk and potentially negative stock price reaction.