Sterling Green Woods Ltd

Financial results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved with LR reports attached.
• Results reviewed by statutory auditors.

Auditor remarks

• Auditors' report notes emphasis of matter on ongoing litigation and regulatory matters.
• Financial impact of orders/litigation yet to be determined by the board.

Material regulatory / legal matters disclosed

• Ongoing civil suits against Paksh Developers and directors; Sanand and Kalol court orders pending.
• NCLT/other proceedings noted; impact on financials to be assessed.
• FIR for misappropriation of Rs 17.55 lakh; provision made.
• NCLT order affects AGM resolutions; financial impact to be decided.
• Lease with Pushpadevi Goenka Trust; no depreciation for Greenwood Lake Resort in specified quarters.

Regulatory updates

• Company evaluating impact of New Labour Codes effective 21 November 2025; accounting treatment to be determined.

Meeting Details

• Board meeting on 12 August 2026; time and venue not disclosed.

Key Agenda Items

• Approve standalone and consolidated unaudited results for quarter and three months ended June 30, 2026 with draft LR.
• Any other business with chair's permission.

Other Notes

• Trading window closed from 01-Jul-2026; remains closed till 48 hours after conclusion of the meeting.

Financial Performance 📊

• Total income was Rs 144.95 lakh (consolidated) with net loss of Rs 110.51 lakh for FY 2024-25.
• Real estate segment revenue Rs 112.74 lakh; resort business revenue Rs 15.13 lakh (consolidated FY 2024-25).
• Real estate segment profit before tax and interest Rs 12.51 lakh; resort segment break-even (consolidated FY 2024-25).
• Employee benefit expenses Rs 46.94 lakh (consolidated) and finance costs Rs 121.47 lakh for FY 2024-25.
• Depreciation and amortisation expense Rs 52.74 lakh for FY 2024-25 (standalone and consolidated).
• Earnings per share (basic and diluted) loss Rs (2.11) consolidated and Rs (2.08) standalone for FY 2024-25.

Balance Sheet & Liquidity

• Total assets Rs 3244.72 lakh and total liabilities Rs 2044.86 lakh (consolidated as of March 31, 2025).
• Capital employed Rs 120.70 crore consolidated and Rs 122.16 crore standalone as of March 31, 2025.
• Long-term borrowings reduced from Rs 0.42 crore to Rs 0.14 crore during FY 2024-25; no new borrowings issued.
• Current ratio stood at 0.40 consolidated and 0.39 standalone as of March 31, 2025.
• Debt service coverage ratio and interest service coverage ratio remained negative for FY 2024-25.
• Outstanding GST liabilities Rs 16.20 lakh as of March 31, 2025, pending reconciliation and payment.

Audit & Legal Matters ⚠️

• Auditor issued qualified opinion due to incomplete accounting software implementation and unquantified asset impairment.
• Company deferred impairment assessment on some resort assets per Board decision dated February 9, 2024.
• FIR lodged in 2019 against resort manager for Rs 17.55 lakh misappropriation; provision made as expected credit loss.
• NCLT order dated September 13, 2023, under review; appeal filed with NCLAT.
• Ongoing civil suits from 2019 related to asset transfers in FY 2009-10; orders pending or under appeal.

Contracts & Agreements 📍

• Lease agreement with Pushpadevi Goenka Trust effective April 15, 2024; lease rent moratorium till September 30, 2025.
• Company settled Rs 1.50 crore due from ex-director and Rs 1.94 crore payable during Q1 FY 2024-25.

Business Model & Segments

• Operates in two segments: Real estate and Resorts & Club Membership, with only domestic operations.