Board took on record unaudited Q2 results; limited review finds no material misstatement
Board meeting on 23rd October 2026: directors took on record the unaudited standalone results for the quarter and half year ended 30th September 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | Prev qtr |
|---|---|---|---|
| Revenue from operations | 34.00 | — | — |
| Total income | 34.00 | — | — |
| Profit before tax | 2.76 | (2.25) | (4.92) |
| Profit after tax | 2.76 | (2.24) | (4.92) |
| Total comprehensive income | 2.76 | (2.25) | (4.92) |
| Basic EPS | 0.03 | (0.03) | (0.06) |
- Period
- Quarter ended on 30-09-2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- The Company has huge accumulated losses and is not carrying on any gainful economic activities; hence deferred tax is not recognised in the books of accounts.
- Provision for taxation/deferred taxation, if any, will be made at the year end.
- The Company does not have any subsidiary / associate.
Board outcome
The board of directors met on 23rd October 2026 from 1:00 p.m. to 1:30 p.m. and took on record the unaudited standalone financial results for the quarter and half year ended 30th September 2026. The company operates in a single reportable segment, construction of residential and commercial complexes, and has no subsidiary or associate.
What the results show (standalone, Rs. in lakh)
- Revenue from operations was 34.00 for the quarter ended 30th September 2026, nil in the quarter ended 30th June 2026 and nil in the quarter ended 30th September 2025. For the half year it was 34.00, against nil in the half year ended 30th September 2025.
- Total Income was 34.00 for the quarter.
- Total Expenses were 31.24 for the quarter. Within this, changes in inventories of finished goods, work-in-progress and stock-in-trade were 29.11, employee benefits expense 0.35, finance costs 0.02 and other expenses 1.76.
- Profit before tax and Profit for the period were both 2.76 for the quarter. For the half year, the company reported a loss of (2.15).
- Basic and diluted Earnings Per Share were 0.03 for the quarter and (0.03) for the half year; the face value per share is Rs. 10/-.
Balance sheet position (as at 30th September 2026, standalone)
- Total assets were 186.11, down from 212.38 as at 31st March 2026. Inventories formed the bulk at 168.49, and cash and cash equivalents were 3.13.
- Total equity was negative at (246.06). Equity share capital is 839.41, while other equity is (1085.47).
- Current borrowings were 340.13, against 365.13 as at 31st March 2026.
- Total liabilities were 432.17.
Cash flow for the half year
- Net cash generated from operating activities was 26.59, helped by a 29.11 decrease in inventories.
- Net cash used in financing activities was (25.01), which includes repayment/proceeds movement on short-term borrowings of (24.99).
- Net increase in cash was 1.58, taking closing cash and cash equivalents to 3.13.
Auditor's review
J M Parikh & Associates issued the limited review report on the standalone results. The conclusion is unmodified: based on the review, nothing came to the auditors' attention that causes them to believe the statement has not disclosed the information required, or that it contains any material misstatement. A review is narrower in scope than an audit and no audit opinion is expressed.
What the company's own notes say
- The company states it "has huge accumulated losses" and that at present it "is not carrying on any gainful economic activities". It adds that there is no virtual certainty the losses will be recouped in the foreseeable future, so deferred tax is not recognised.
- Provision for taxation/deferred taxation, if any, will be made at the year end.
- The statement on deviation or variation for proceeds of public issue, rights issue, preferential issue or QIP is marked not applicable, and the related party transactions format is also marked not applicable, with the company stating it has not exceeded the prescribed threshold limits for certain corporate governance provisions.
- Under the format for outstanding default on loans and debt securities, total amount outstanding and amount of default are shown as 0 (in INR crore) for bank/financial institution facilities, unlisted debt securities and total financial indebtedness.
How a retail investor might read this
The quarter's small profit of 2.76 lakh sits alongside a large non-cash line — the 29.11 lakh change in inventories — so the revenue of 34.00 lakh is modest in scale. The balance sheet shows negative total equity of 246.06 lakh and current borrowings of 340.13 lakh, and the company's own note flags accumulated losses with no gainful economic activities at present. Those are the points to weigh alongside the clean review conclusion.
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More numbers
- Revenue from operations, quarter ended 30-09-202634.00 (Rs. in lakh)
- Total expenses, quarter ended 30-09-202631.24 (Rs. in lakh)
- Profit for the period, quarter ended 30-09-20262.76 (Rs. in lakh)
- Total equity as at 30-09-2026(246.06) (Rs. in lakh)
- Borrowings, Current as at 30-09-2026340.13 (Rs. in lakh)
- Total assets as at 30-09-2026186.11 (Rs. in lakh)
- Net cash generated from operating activities, half year26.59 (Rs. in lakh)
- Total income, latest quarter34.00 (Rs. In lakh)
- Total income, year-ago quarter- (Rs. In lakh)
- Total income, previous quarter- (Rs. In lakh)
- Total comprehensive income, latest quarter2.76 (Rs. In lakh)
- Total comprehensive income, year-ago quarter(2.25) (Rs. In lakh)
- Total comprehensive income, previous quarter(4.92) (Rs. In lakh)
- Profit after tax, latest quarter2.76 (Rs. In lakh)
- Profit after tax, year-ago quarter(2.24) (Rs. In lakh)
- Profit after tax, previous quarter(4.92) (Rs. In lakh)
- Revenue from operations, latest quarter34.00 (Rs. In lakh)
- Revenue from operations, year-ago quarter- (Rs. In lakh)
- Revenue from operations, previous quarter- (Rs. In lakh)
- Profit before tax, latest quarter2.76 (Rs. In lakh)
- Profit before tax, year-ago quarter(2.25) (Rs. In lakh)
- Profit before tax, previous quarter(4.92) (Rs. In lakh)
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