Enclosed herewith are the Clarification Letter and the revised Audit Report for the period ended March 31, 2026, received from the Statutory Auditor, for your reference and records.
Enclosed Standalone and Consolidated Financial Results for the quarter and year ended 31st March, 2026.
The Board of Directors at the meeting held today i.e. 29th May, 2026 inter alia considered and approved the following: 1. Re-appointment of Cost Auditor M/s. Kewlani & Associates, Cost Accountants for FY 2026-2027. 2. Re-appointment of Internal Auditor Mr. Amol Shah for the FY 2026-2027.
The Board of Directors of the Company has in its Meeting held today i.e. on Friday, May 29, 2026 (“said meeting”) inter alia considered and approved the following: 1. Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026 along with the Statement of Assets and Liabilities as at March 31, 2026 and Statement of Cash Flow for the year ended on March 31, 2026. 2. Auditors’ Report on the Financial Results for the quarter and year ended March 31, 2026. 3. Approval for re-appointment of M/s. Kewlani & Associates, Cost Accountants (Firm Registration No. 003362), as Cost Auditor of the Company for the FY 2026-2027. 4. Approval for re-appointment of Mr. Amol Shah as Internal Auditor of the Company for the FY 2026-2027.
Pursuant to Regulation 24A of SEBI Listing Regulations, the Company has obtained the Secretarial Compliance Report for the financial year ended March 31, 2026 from M/s. Dilip Bharadiya & Associates, Company Secretaries and a copy of the same is enclosed herewith for your reference.
the Audited Standalone & Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026 along with the Auditors Report thereon.
In compliance with the provisions of Section 124 read with Rule 7(2A) of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the Board of Directors of the Company in its Meeting held on May 9, 2026 appointed Ms. Pooja SIngh, Company Secretary and Compliance officer of the Company as the Nodal Officer for the purpose of verification of claims and coordination with Investor Education and Protection Fund Authority.
Enclosed herewith the certificate dated April 3, 2026 issued by Registrar and Share Transfer Agent, M/s MUFG Intime India Private Limited, confirming compliance under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.
Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 and in accordance with "Code of Conduct for Trading in Listed or Proposed to be listed Securities of the Company shall remain closed for all Designated Persons with effect from Wednesday, April 1, 2026. The Trading window shall open 48 hours after the Company's Audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026 becomes generally available.
Pursuant to Regulation 30 of SEBI (LODR) Regulation 2015, we wish to inform you that Acuite Ratings and Research Limited, a credit Rating Agency, vide its press release dated March 19, 2026 has downgraded its rating on the long term bank facility of the Company to "ACUITE BB" from "ACUITE BB+" for facilities amounting to Rs. 25 crore and has re-affirmed the rating on short term bank facilities at "ACUITE A4+" for facilities amounting to Rs. 200 crore.
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 56.46 | 90.84 | 0.61 | 0.72 | 0.22 | 0.00 | 0.00 | 0.00 | 0.00 | 1.30 | 2.20 | 0.00 |
| YOY Revenue Growth % | 664.67% | - | -98.04% | -95.36% | -99.6% | -100% | -100% | -100% | -100% | - | - | - |
| Other Income | 2.98 | 4.34 | 1.74 | 1.77 | 2.08 | 2.06 | 2.04 | 1.99 | 2.17 | 2.69 | 7.30 | 6.41 |
| Total Income | 59.44 | 95.18 | 2.35 | 2.48 | 2.31 | 2.06 | 2.04 | 1.99 | 2.17 | 3.99 | 9.49 | 6.41 |
| Total Expenses + | 62.84 | 89.04 | 1.24 | 2.37 | 1.94 | 1.35 | 1.41 | 1.32 | 1.21 | 1.18 | 1.12 | 2.51 |
| Cost of Materials Consumed | 59.73 | 23.51 | -0.69 | 2.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee Benefit Expense | 1.12 | 0.67 | 0.33 | 0.19 | 0.10 | 0.07 | 0.09 | 0.10 | 0.06 | 0.06 | 0.08 | 0.09 |
| Other Expenses | 0.93 | 0.57 | 0.32 | 0.55 | 0.45 | 0.40 | 0.48 | 0.43 | 0.33 | 0.22 | 0.31 | 0.47 |
| Operating Profit | -6.38 | 1.80 | -0.63 | -1.65 | -1.72 | -1.35 | -1.41 | -1.32 | -1.21 | 0.12 | 1.07 | -2.51 |
| OPM % | -11.3% | 2% | -103% | -230.9% | -765% | 0% | 0% | 0% | 0% | 9.4% | 48.9% | 0% |
| Profit Before Tax + | -3.40 | 6.14 | 1.10 | 0.11 | 0.37 | 0.71 | 0.63 | 0.67 | 0.96 | 2.81 | 8.37 | -9.29 |
| Tax Expense | 0.07 | 0.22 | 0.37 | 0.07 | 0.13 | 0.22 | 0.21 | 0.22 | 0.28 | 0.57 | 1.55 | 0.06 |
| Tax % | - | 3.6% | 33.4% | 63.3% | 36.6% | 30.7% | 32.9% | 32.3% | 28.8% | 20.1% | 18.5% | - |
| Profit After Tax | -3.47 | 5.92 | 0.74 | 0.04 | 0.23 | 0.49 | 0.42 | 0.46 | 0.68 | 2.25 | 6.82 | -9.36 |
| EPS (Basic) | -5.63 | 9.60 | 1.19 | 0.07 | 0.38 | 0.80 | 0.69 | 0.74 | 1.11 | 3.64 | 11.06 | -15.17 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 3.50 | 0.22 | 148.63 | 54.07 | 168.49 | 148.21 |
| YOY Revenue Growth % | 1457.28% | -99.85% | 174.88% | -67.91% | 13.68% | - |
| Other Income | 18.57 | 8.18 | 10.82 | 7.99 | 3.39 | 15.03 |
| Total Income | 22.07 | 8.40 | 159.45 | 62.06 | 171.88 | 163.25 |
| Total Expenses + | 6.02 | 6.02 | 155.49 | 56.39 | 167.57 | 147.77 |
| Cost of Materials Consumed | 0.00 | 0.00 | 84.99 | 19.42 | 83.19 | 49.97 |
| Employee Benefit Expense | 0.29 | 0.35 | 2.31 | 1.18 | 2.91 | 2.30 |
| Other Expenses | 1.33 | 1.77 | 2.37 | 2.48 | 4.38 | 2.24 |
| Operating Profit | -2.53 | -5.79 | -6.86 | -2.32 | 0.92 | 0.45 |
| OPM % | -72.3% | -2580% | -4.6% | -4.3% | 0.5% | 0.3% |
| Profit Before Exceptional | 16.04 | 2.38 | 3.96 | 5.67 | 4.31 | 15.48 |
| Exceptional Items | -13.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax + | 2.85 | 2.38 | 3.96 | 5.67 | 4.31 | 15.48 |
| Tax Expense | 2.46 | 0.78 | 0.73 | 1.48 | 2.30 | 5.61 |
| Tax % | 86.2% | 32.7% | 18.5% | 26.2% | 53.3% | 36.2% |
| Profit After Tax | 0.39 | 1.60 | 3.23 | 4.18 | 2.01 | 9.88 |
| EPS (Basic) | 0.64 | 2.60 | 5.23 | 6.78 | 3.26 | 16.02 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Non-Current Assets + | 151.52 | 162.87 | 159.89 | 138.55 | 132.30 | 129.83 |
| Property, Plant & Equipment | 7.50 | 8.52 | 9.56 | 9.08 | 9.86 | 10.12 |
| Capital Work in Progress | 0.00 | 0.00 | 0.00 | 2.08 | 2.08 | 1.75 |
| Non-Current Investments | 140.54 | 137.64 | 133.55 | 123.80 | 116.59 | 114.26 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Intangible Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Current Assets + | 3.93 | 3.16 | 3.34 | 124.61 | 63.08 | 140.71 |
| Inventories | 0.93 | 1.76 | 1.76 | 84.99 | 7.23 | 79.45 |
| Trade Receivables | 0.00 | 0.00 | 0.00 | 0.70 | 0.41 | 1.65 |
| Cash and Cash Equivalents | 0.79 | 0.76 | 0.85 | 10.57 | 41.06 | 42.23 |
| Current Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| LIABILITIES & EQUITY | ||||||
| Total Equity | 147.27 | 146.87 | 145.15 | 141.98 | 137.81 | 135.77 |
| Equity Share Capital | 6.17 | 6.17 | 6.17 | 6.17 | 6.17 | 6.17 |
| Other Equity | 141.10 | 140.70 | 138.98 | 135.81 | 131.64 | 129.60 |
| Non-Current Liabilities | 2.01 | 2.15 | 2.45 | 2.54 | 1.42 | 1.64 |
| Current Liabilities | 6.16 | 17.00 | 15.63 | 118.65 | 56.15 | 133.14 |
| Total Liabilities | 8.18 | 19.16 | 18.08 | 121.19 | 57.57 | 134.78 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Cash from Operating Activities | -1.53 | -1.56 | 0.16 | -48.38 | -2.73 | 33.84 |
| Cash from Investing Activities | 15.47 | 3.22 | 0.64 | 0.70 | 0.09 | 16.30 |
| Cash from Financing Activities | -2.03 | -4.55 | -10.09 | 7.68 | 1.47 | -1.23 |
| Net Increase/Decrease in Cash | 11.91 | -2.88 | -9.29 | -40.00 | -1.17 | 48.91 |