Outcome of Board Meeting held on November 14th, 2025 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 Q2 and H1 FY26 ended September 30, 2025. Net sales from operations were nil (vs Rs. 2.19 million in Q2 FY25), with total income of just Rs. 0.04 million. The company reported a net loss of Rs. 1.00 million for the quarter (vs Rs. 7.98 million loss in Q2 FY25) and Rs. 1.91 million for H1 FY26. A major positive was the settlement of the NCLT matter covering Rs. 82.63 million in old receivables - the company recovered Rs. 40 million in cash and received 4 residential flats in Bhandup (2 BHK each) worth Rs. 40 million, with Rs. 2.63 million written off as loss. The board also appointed Ms. Rekha Naraniwal Rani as an Additional Independent Director. The auditor (AMS & Co LLP) issued a limited review report with a qualified conclusion, flagging material uncertainty about the company's ability to continue as a going concern due to accumulated losses, nil sales, no orders on hand, long-outstanding receivables/payables without confirmations, ongoing litigations, and unresolved supplier advances of Rs. 29.20 million.
This is a deeply negative filing for shareholders - the company has effectively zero operating revenue, persistent losses, accumulated deficit of Rs. 29.45 million in reserves, and the auditor has explicitly flagged a going concern risk. However, the Rs. 80 million one-time recovery from the NCLT settlement is a meaningful cash boost (cash jumped from Rs. 0.39 million to Rs. 39.25 million). The stock remains suspended on the Calcutta Stock Exchange, and the company's survival hinges on shareholder approval to change its main business object and execute new revenue plans.