This is to inform you that pursuant to Regulation 30 and Regulation 33 of the Listing Regulations, the Board at its meeting held today i.e., Friday, November 14, 2025, through video Conferencing, ....
Awaiting price reaction for this filing.
The Board approved unaudited financial results for the quarter and half-year ended September 30, 2025. Total income stood at ₹405.88 lakhs, but this was entirely from 'Other income' – revenue from operations is NIL across all reported periods. The company swung to a profit after tax of ₹402.49 lakhs (vs a loss of ₹11.44 lakhs in Q2 FY25), but this profit is entirely from a one-time settlement of loans with promoter-related parties (Mr. Mahesh Garodia, Mr. Nishant Garodia, and Garodia Sons Pvt Ltd) under an NCLT-approved Base Resolution Plan. Crucially, the company has decided to CEASE its business operations, and the financial statements are no longer prepared on a going concern basis. The auditor (Laxmikant Kabra & Co LLP) raised multiple Emphasis of Matter issues: (1) going concern, (2) unconfirmed balances of sundry creditors, debtors and loans, (3) insufficient evidence for contingent liabilities, and (4) absence of an internal audit system. Other equity is deeply negative at ₹(793.06) lakhs, indicating accumulated losses far exceeding share capital.
This is a serious red flag for shareholders. The company has effectively stopped operating, its net worth is wiped out, and the auditor has flagged going concern and multiple control weaknesses. The reported 'profit' is a one-time accounting event from debt settlement, not from any business activity, and should not be mistaken for operational recovery. The stock carries very high risk and is essentially a non-operating shell working through NCLT resolution.