Outcome of Board Meeting held on 4th June 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board approved audited standalone and consolidated financial results for Q4 and FY ended 31st March 2026, along with a declaration of an unmodified auditor's opinion. FY26 revenue from operations surged to Rs. 726.12 lakhs from Rs. 77.85 lakhs in FY25, but total expenses climbed to Rs. 797.43 lakhs, resulting in a net loss of Rs. 69.43 lakhs (vs Rs. 111.51 lakhs loss in FY25). The auditor flagged a material uncertainty on going concern, noting accumulated losses of Rs. 2,216.82 lakhs and that the company's ability to continue depends on promoter support and a return to profitability. Three emphasis-of-matter items were raised: non-accrual of interest on a loan to subsidiary Minal Infojewels, the previous-year write-off of Rs. 408.99 lakhs relating to the winding-up of overseas subsidiary Minal International FZE, and an ongoing NCLT share ownership dispute filed by the Managing Director. M/s. MMY & Associates were appointed as internal auditors for FY 2026-27, and the resignation of Company Secretary Mr. Piyush Talyani (effective 11 May 2026) was noted.
Despite a sharp jump in revenue, the company remains in losses with accumulated losses crossing Rs. 22 crores, and auditors have explicitly flagged a going-concern uncertainty — shareholders should view this as a high-risk, turnaround-stage situation. The change in internal auditors and exit of the company secretary may add near-term governance friction.