Board approves unaudited standalone Q2 results; 26 October 2026 fixed as Record Date for shares under NCLT order
The Board met on 13 October 2026 and approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Profit before tax | (303.03) | (269.85) | −12.3% | (295.68) | −2.5% |
| Profit after tax | (303.03) | (269.85) | −12.3% | (295.68) | −2.5% |
| Total comprehensive income | (303.03) | (269.85) | −12.3% | (295.68) | −2.5% |
| Basic EPS | (0.98) | (0.87) | −12.6% | (0.95) | −3.2% |
- Profit after tax (Year ago)
- (269.85) (−12.3%)
- Profit after tax (Prev qtr)
- (295.68) (−2.5%)
- Period
- Quarter ended September 30, 2026
- Total income
- -
Also decided at the meeting
- Approved Monday, October 26, 2026 as the Record Date for determining entitlement of existing shareholders to receive shares in accordance with the NCLT order (relief order dated February 26, 2026; NCLAT order September 3, 2026).
Auditor's review
Conclusion: Unmodified
- Emphasis of Matter: NCLT relief order dated February 26, 2026 given effect through Fresh Start Accounting in FY ended March 31, 2026; no further adjustment made during the quarter.
- Emphasis of Matter: allotment of 1,00,00,000 new equity shares pending; no shares allotted, no fresh capital infused, trading remains suspended on BSE and NSE.
Notes to the results
- Company underwent CIRP and liquidation and was acquired as a going concern; NCLT order reliefs fully given effect via Fresh Start Accounting in FY2025-26, no further adjustment this quarter.
- Existing equity capital cancelled; approvals sought for allotment of 1,00,00,000 new equity shares (95% to acquirer, 5% public); allotment pending, trading suspended.
- Ind AS 36 impairment assessment of transferred fixed assets still in progress; no impairment loss recognised pending completion.
- Going concern depends on completion of pending equity allotment/capital infusion, resumption of trading and regularisation of compliances; results prepared on going concern basis.
What the Board approved
The Board of Directors met on Tuesday, 13 October 2026 and approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026, together with the Limited Review Report on them from the statutory auditors, S K Bhavsar & Co., Chartered Accountants.
The auditor's conclusion and Emphasis of Matter
- The review was carried out under SRE 2410, which gives moderate assurance; the auditors state they have not performed an audit and do not express an audit opinion.
- Their conclusion is not modified: nothing came to their attention that causes them to believe the statement contains any material misstatement or fails to disclose information required under Regulation 33.
- Emphasis of Matter: the reliefs granted under the NCLT order were given effect through Fresh Start Accounting in the financial statements for the year ended 31 March 2026, and no further adjustment on account of that order was made during the quarter ended 30 September 2026; the opening balances reflect that position carried forward.
- Emphasis of Matter: the company continues to seek approvals for allotment of 1,00,00,000 new equity shares consequent to cancellation of the existing equity share capital under the NCLT order; as at 30 September 2026 no shares have been allotted and no fresh capital has been infused, and trading in the equity shares continues to remain suspended on BSE and NSE.
Standalone numbers as printed (Rs. in lakh)
- Total Expenses: 303.03 for the quarter ended 30 September 2026.
- Net Profit/(Loss) for the period: (303.03) for the quarter.
- Basic and Diluted Earnings (Loss) per share: (0.98) for the quarter.
- Paid-up Equity Share Capital: 3,100.49; Face Value of Equity Share Capital: 10.00.
- Total Assets: 14,849.73 as at 30 September 2026.
- Current Borrowings: 1,046.00 as at 30 September 2026.
Record Date for shares
The Board approved Monday, 26 October 2026 as the Record Date for determining the entitlement of the existing shareholders of the company to receive shares in accordance with the order passed by the Hon'ble NCLT. This follows the relief order passed by the Hon'ble NCLT, Mumbai Bench, dated February 26, 2026, and the order passed by the Hon'ble National Company Law Appellate Tribunal, New Delhi, dated September 3, 2026, in connection with the acquisition of the company as a going concern from liquidation proceedings.
Other notes in the results
- Going concern: the company's ability to continue as a going concern remains dependent on the timely completion of the pending equity allotment and capital infusion, resumption of trading on BSE and NSE, and regularisation of the remaining regulatory compliances; the quarter's results have been prepared on a going concern basis.
- The 1,00,00,000 new equity shares are proposed to the New Promoters/Acquirer & Nominees and to public/strategic investors, subject to requisite approvals.
- No provision for current tax was recognised for the quarter because of losses in the quarter.
- The technical evaluation and impairment assessment of the transferred plant and other fixed assets under Ind AS 36 is in progress, and no impairment loss has been recognised pending its completion.
- Residual historical balances of trade receivables, loans, advances and deposits from the pre-Fresh-Start period remain subject to confirmation and reconciliation, with no adjustment made during the quarter.
What the update records
The update combines the unaudited standalone results for the quarter and half year, the auditor's review with its Emphasis of Matter, the still-pending allotment of new equity shares and the Record Date for shareholders' entitlement, with trading in the equity shares continuing to remain suspended on BSE and NSE.
Also from Talwalkars Better Value Fitness
Board meeting on 28 October 2026 to consider Reduction of Shares and preferential fund raise
23 Oct 2026
Record date for capital reduction fixed at 26.10.2026 as per NCLT order
13 Oct 2026
Board meeting on 13 October 2026 to consider unaudited standalone quarterly results
8 Oct 2026
More numbers
- Total Expenses, quarter ended September 30, 2026 (Rs. in lakh)303.03
- Paid-up Equity Share Capital (Rs. in lakh)3,100.49
- Face Value of Equity Share Capital10.00
- Total Assets as at 30.09.2026 (Rs. in lakh)14,849.73
- Current Borrowings as at 30.09.2026 (Rs. in lakh)1,046.00
- New equity shares pending allotment1,00,00,000
- Total income, latest quarter- (Rs. in lacs)
- Total income, year-ago quarter- (Rs. in lacs)
- Total income, previous quarter- (Rs. in lacs)
- Total comprehensive income, latest quarter(303.03) (Rs. in lacs)
- Total comprehensive income, year-ago quarter(269.85) (Rs. in lacs)
- Total comprehensive income, previous quarter(295.68) (Rs. in lacs)
- Profit after tax, latest quarter(303.03) (Rs. in lacs)
- Profit after tax, year-ago quarter(269.85) (Rs. in lacs)
- Profit after tax, previous quarter(295.68) (Rs. in lacs)
- Revenue from operations, latest quarter- (Rs. in lacs)
- Revenue from operations, year-ago quarter- (Rs. in lacs)
- Revenue from operations, previous quarter- (Rs. in lacs)
- Profit before tax, latest quarter(303.03) (Rs. in lacs)
- Profit before tax, year-ago quarter(269.85) (Rs. in lacs)
- Profit before tax, previous quarter(295.68) (Rs. in lacs)
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