Outcome of the Board Meeting held on 30.05.2026
Awaiting price reaction for this filing.
The Board of Directors approved the audited standalone financial results for Q4 and year ended March 31, 2026. The company reported zero revenue from operations for the year, with a total income of only Rs 200 thousand from other income. Total expenses stood at Rs 16.65 million, resulting in a net loss of Rs 16.45 million (EPS: -8.48), compared to a loss of Rs 0.79 million in the previous year. The company underwent a complete change of ownership under IBC proceedings - the company was sold as a going concern to Indo Aquatics Limited (later assigned to Reddy Investments Private Limited) for Rs 1.94 crore. Pre-existing share capital of approximately Rs 149.63 crore was extinguished and reversed to capital reserve. Currently, 100% equity is held by RIPL, resulting in zero public shareholding.
The company has no operating revenue and is incurring substantial losses, indicating severe financial distress. The IBC-driven restructuring has completely wiped out pre-existing shareholder equity. With zero public shareholding and no business operations generating revenue, the stock is extremely high-risk and lacks liquidity.