Outcome of Board Meeting

The Board approved audited financial results for FY2026 ending March 31, 2026. Standalone revenue increased to Rs 7.84 Cr from Rs 0.51 Cr, but the company recorded a massive loss of Rs 6.75 Cr versus profit of Rs 16.35 Lakh in FY2025. Short-term borrowings surged to Rs 60.32 Cr (from Rs 5.29 Cr), and total expenses reached Rs 14.57 Cr. The auditors issued a Qualified Opinion citing: (1) non-receipt of external balance confirmations, and (2) non-provision of depreciation by subsidiary Raconteur Granite Ltd. The auditors raised an Emphasis of Matter flagging material uncertainty about the company's ability to continue as a going concern, with unsecured loans payable of Rs 60.16 Cr and loans/advances given of Rs 69.48 Cr being substantial relative to net worth. Additionally, subsidiary RGL sold its primary quarry land/mine (96.77% of its assets) for Rs 18 Cr against a book value of Rs 31.24 Cr, resulting in a loss of Rs 13.24 Cr. The company also wrote back old payables of Rs 85.54 Lakh and created provisions for doubtful loans of Rs 7.34 Cr.