Outcome of the Board Meeting held today on August 13, 2025.
Awaiting price reaction for this filing.
The Board approved the unaudited financial results for the quarter ended June 30, 2025. The company reported zero revenue from operations and a net loss of Rs. 9.25 lakhs (EPS of Rs. -0.27), compared to a profit of Rs. 224.69 lakhs in Q1 FY25 which had included a one-time write-back of Rs. 233.84 lakhs. The auditor (Jain Saraogi & Co LLP) issued a limited review report drawing attention to several notes, including the CIRP-related write-back of Rs. 233.84 lakhs and write-off of Rs. 35.16 lakhs done in FY24-25 after the NCLT order of June 5, 2024. All property, plant, equipment and intangible assets have been classified as 'Assets held for sale'. The company has not commenced business operations except administrative ones, and is in the process of an acquisition/swap transaction involving Oniv Beverages Private Limited (up to Rs. 5.00 Crores). No interim dividend was recommended.
This is a negative signal for shareholders – the company is operationally dormant with no revenue, is emerging from an insolvency resolution process, has converted all its operating assets to 'held for sale', and has flagged multiple compliance and disclosure issues (un-satisfied ICICI Bank charges at ROC, pending IEPF transfer, and unupdated shareholder list post BSE listing). The loss in Q1 FY26 is small on an absolute basis, but the absence of any operating business raises serious going-concern questions and suggests the stock will remain highly speculative.