Outcome of Board Meeting held on February 13th, 2026 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:
Awaiting price reaction for this filing.
The Board approved unaudited standalone financial results for Q3 FY26 (quarter ended December 31, 2025) along with the auditor's limited review report. The company reported net sales of Rs. 9.99 million in Q3 (vs. nil in Q3 FY25) and Rs. 21.9 million for 9M FY26, but continued to post losses with a Q3 net loss of Rs. 1.50 million and a 9M loss of Rs. 9.58 million (full-year FY25 loss was Rs. 15.77 million). The Board also raised the monthly remuneration of Director Vijay Ramesh Solanki to Rs. 70,000 effective February 1, 2026. The auditor issued a qualified conclusion flagging that accumulated losses, negative net current asset position, and inability to meet liabilities cast material uncertainty on the company's ability to continue as a going concern. The company also settled Rs. 82.62 million of old trade receivables through NCLT (getting Rs. 40 million in cash and Rs. 40 million in residential flats), but Rs. 47.08 million in trade payables remain unreconciliated, with five creditors filing recovery suits worth Rs. 26.90 million.
This is a deeply distressed small-cap stock - the auditor has flagged a going concern doubt, the share is already suspended on Calcutta Stock Exchange, and multiple recovery suits are pending. Shareholders face significant risk; the new management's plan to change the company's main business object and revive revenue is the only positive, but execution risk is high and the stock should be treated as high-risk.