Board approves H1 FY27 standalone results, internal auditor change and 12 revised policies
Board meeting on 23 October 2026 approved the unaudited standalone results for the quarter and half year ended 30 September 2026, and took note of the Limited Review Report issued by the statutory auditors on them.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.00 | 0.00 | — | 7.63 | −100% |
| Total income | 0.00 | 0.00 | — | 7.63 | −100% |
| Profit before tax | -10.67 | -0.24 | — | -6.56 | −62.7% |
| Profit after tax | -10.67 | -0.24 | — | -6.56 | −62.7% |
| Total comprehensive income | -10.67 | -0.24 | — | -6.56 | −62.7% |
| Basic EPS | -0.03 | -0.24 | +87.5% | -0.02 | −50% |
- Period
- Quarter Ended 01-07-2026 30-09-2026 (Unaudited)
Also decided at the meeting
- Took note of resignation of M/s. V. K. Surana & Co. as Internal Auditor with effect from 21 October 2026.
- Appointed M/s. M C Asawa & Co., Chartered Accountants, Nagpur (FRN 008041C) as Internal Auditor for FY 2026-27, effective 23 October 2026.
- Approved twelve revised policies (incl. Nomination and Remuneration, RPT, Vigil Mechanism, Materiality, Insider Trading, POSH), effective from conclusion of the 23 October 2026 meeting.
- Appointed Mr. Amit Suresh Ninawe, Executive Director and CFO, as Chairman of the Executive Committee with effect from 23 October 2026.
- Designated Ms. Ankita Hande, Company Secretary, as the Designated Person for furnishing information on beneficial interest in shares under Rule 9 / Section 89.
Auditor's review
Conclusion: Unmodified
Notes to the results
- Scheme of Arrangement for demerger of Jewellery Business into the Resulting Company, sanctioned by NCLT Mumbai on October 13, 2025, became effective October 17, 2025.
- Resulting Company allotted 30,56,925 equity shares of Rs. 10/- each in ratio 3:10 on November 8, 2025; shares listed on BSE on December 22, 2025; demerger accounted at book values as common control transaction.
Board meeting, 23 October 2026: The directors met on Friday, 23 October 2026 from 02:36 P.M. to 03:10 P.M. IST (video conferencing / audio-visual means) and approved several items, led by the unaudited standalone financial results for the quarter and half year ended 30 September 2026. The Board also took note of the Limited Review Report issued by the statutory auditors on those results.
The results, standalone and unaudited (every figure below is in Rs. Lakhs, as printed):
- Revenue from operations: 7.63 for the half year ended 30 September 2026; 0.00 for the quarter ended 30 September 2026.
- Total Income from Operations (net): 7.63 for the half year; 0.00 for the quarter.
- Total expenses: 24.86 for the half year; 10.67 for the quarter.
- Net Profit/(Loss) after tax: -17.23 for the half year; -10.67 for the quarter.
- Earnings per share (face value of Rs. 10 each, not annualised): basic and diluted -0.03 for the quarter and -0.06 for the half year.
- Year ended 31 March 2026 (audited): Revenue from operations 154.40 and Net Profit/(Loss) after tax 0.58.
Balance sheet and cash, as at 30 September 2026 (standalone, unaudited, Rs. Lakhs):
- Total assets 312.84, against 472.49 as at 31 March 2026.
- Total equity 309.28, against 326.52.
- Total liabilities 3.56, against 145.97.
- Paid-up equity share capital 305.69.
- Cash and cash equivalents at the end of the period 290.82, against 0.97 at the start of the year.
Internal auditor change
- The Board noted the resignation of M/s. V. K. Surana & Co., Chartered Accountants (Firm Reg. no. 110634W), as Internal Auditor, with effect from 21 October 2026, attributed in the update to certain unavoidable circumstances.
- On the Audit Committee's recommendation it approved the appointment of M/s. M C Asawa & Co., Chartered Accountants, Nagpur (Firm Registration No. 008041C), as Internal Auditor for the Financial Year 2026-27.
- The firm's stated profile: registered with ICAI since 1997, led by CA Mukund Sarda, over 12 years of relevant audit and assurance experience and more than 35 Ind AS implementation and conversion assignments, with clients in trading, manufacturing, healthcare, logistics, real estate and infrastructure.
Revised policies: twelve policies were approved, effective from the conclusion of the meeting on 23 October 2026:
- Recommended by the Nomination and Remuneration Committee: Nomination and Remuneration Policy; Terms and Conditions of Appointment/Re-appointment of Independent Directors; Criteria for Making Payments to Non-Executive Directors; Code of Conduct for the Board and Senior Management; Policy to Promote Diversity on the Board; Familiarisation Programme for Independent Directors.
- Recommended by the Audit Committee: Related Party Transaction Policy; Vigil Mechanism/Whistle Blower Policy.
- Other policies: Preservation of Documents and Archival Policy; Policy for Determination of Materiality of Events or Information; Code of Conduct for Prevention of Insider Trading and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information; Policy on Prevention of Sexual Harassment of Women at Workplace (POSH Policy).
- The revised POSH Policy authorises Ms. Neha Hardeepsingh Narang, Non-Executive Non-Independent Woman Director, to oversee and facilitate its implementation, expressly not extending to conducting any statutory inquiry or adjudicating any complaint.
Executive Committee: Mr. Amit Suresh Ninawe, Executive Director and Chief Financial Officer, was appointed Chairman of the Executive Committee with effect from 23 October 2026. The Committee is now Mr. Amit Suresh Ninawe (Chairman), Mr. Lalit Naresh Nagdev (Member) and Ms. Neha Hardeepsingh Narang (Member); existing terms of reference, powers and functions continue.
Beneficial interest: Company Secretary Ms. Ankita Hande was designated as the Designated Person responsible for furnishing information and extending cooperation to the Registrar of Companies or other authorised officers on beneficial interest in the company's shares.
Background in the notes to the results: the notes refer to a Scheme of Arrangement for demerger of the jewellery business into a 100% subsidiary, sanctioned by the NCLT and effective from 17 October 2025 with an appointed date of 1 April 2025, and state that previous period figures have been re-grouped or re-classified where necessary to make them comparable.
Also from Simandhar Impex
Board approves revised Code of Conduct & Code of Fair Disclosure (Insider Trading Policy)
23 Oct 2026
Contact details of CEO, CFO and Company Secretary disclosed as KMP authorised to determine materiality
23 Oct 2026
Internal Auditor Appointed for FY 2026-27
23 Oct 2026
More numbers
- Net Profit/(Loss) after tax, half year ended 30-09-2026 (Rs. in Lakhs)-17.23
- Revenue from operations, year ended 31-03-2026 (Rs. in Lakhs)154.40
- Net Profit/(Loss) after tax, year ended 31-03-2026 (Rs. in Lakhs)0.58
- Total assets as at 30-09-2026 (Rs. in Lakhs)312.84
- Paid up equity share capital as at 30-09-2026 (Rs. in Lakhs)305.69
- Basic earnings per share, half year ended 30-09-2026 (Rs., not annualised)-0.06
- Total income, latest quarter0.00 (Rs. in Lakhs)
- Total income, year-ago quarter0.00 (Rs. in Lakhs)
- Total income, previous quarter7.63 (Rs. in Lakhs)
- Total comprehensive income, latest quarter-10.67 (Rs. in Lakhs)
- Total comprehensive income, year-ago quarter-0.24 (Rs. in Lakhs)
- Total comprehensive income, previous quarter-6.56 (Rs. in Lakhs)
- Profit after tax, latest quarter-10.67 (Rs. in Lakhs)
- Profit after tax, year-ago quarter-0.24 (Rs. in Lakhs)
- Profit after tax, previous quarter-6.56 (Rs. in Lakhs)
- Revenue from operations, latest quarter0.00 (Rs. in Lakhs)
- Revenue from operations, year-ago quarter0.00 (Rs. in Lakhs)
- Revenue from operations, previous quarter7.63 (Rs. in Lakhs)
- Profit before tax, latest quarter-10.67 (Rs. in Lakhs)
- Profit before tax, year-ago quarter-0.24 (Rs. in Lakhs)
- Profit before tax, previous quarter-6.56 (Rs. in Lakhs)
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