Financial Performance 📊
- Q3 FY26 standalone revenue from operations declined to ₹7.80 lakh vs ₹169.76 lakh YoY.
- Total income for Q3 FY26 was ₹8.00 lakh, down from ₹169.79 lakh YoY.
- Total expenses for Q3 FY26 were ₹92.54 lakh, down from ₹402.56 lakh YoY.
- Loss before tax for Q3 FY26 was ₹73.74 lakh vs loss of ₹232.77 lakh YoY.
- Nine months ended Dec 31, 2025 loss before tax was ₹974.09 lakh vs ₹362.0 lakh loss prior year.
- EPS for Q3 FY26 was negative ₹0.01 per share (basic and diluted).
Operations & Corporate Status 🗓️
- Company under Corporate Insolvency Resolution Process (CIRP) since Oct 7, 2025; management powers suspended.
- Manufacturing operations suspended; financials prepared on non-going concern basis with material uncertainty.
- CIRP moratorium effective from Oct 7, 2025 restricting legal proceedings and asset disposals.
- Resolution Professional managing CIRP process including claims verification and asset preservation.
Balance Sheet & Liquidity 📊
- Loans outstanding ₹49.36 crore; borrowings ₹3,073.67 lakh non-current and ₹962.99 lakh current as of Dec 31, 2025.
- Property, Plant and Equipment carrying value ₹101.22 crore as of Dec 31, 2025; valuation pending CIRP outcome.
- Total assets ₹55.92 crore; equity share capital ₹20.43 crore; other equity negative ₹56.02 crore.
- Total liabilities ₹72.61 crore including borrowings, lease liabilities, and other financial liabilities.
- Cash and cash equivalents ₹46.56 lakh as of Dec 31, 2025.
- Cash flow from operations negative ₹282.79 lakh; investing activities negative ₹778.13 lakh; financing activities positive ₹1,110.93 lakh for nine months ended Dec 31, 2025.
Corporate Actions & Related Party Transactions 📍
- Equity shares pledged by guarantor invoked; Punjab National Bank holds ~27.02% equity post-invocation.
- Punjab National Bank converted part of loan into Optionally Convertible Preference Shares (OCPS) not yet converted.
- No control or management rights exercised by PNB despite significant shareholding post-pledge invocation.
- Related party Agrim Food LLP paid certain expenses pre-CIRP and rents machinery and vehicles post-CIRP on commercial terms.
- Fixed deposit of ₹2 crore created from Earnest Money Deposit of resolution applicants during CIRP.
Audit & Risks ⚠️
- Auditor’s review qualified due to material uncertainty on going concern and incomplete disclosures.
- Trade receivables and advances include long outstanding and unconfirmed balances; recoverability uncertain.
- Interest on borrowings classified as NPA not accrued as per RBI guidelines; no crystallized liability recognized.
- Assets sold under SARFAESI Act prior to CIRP not recognized in books; assets still reflected under PPE.
- Company involved in multiple litigations including labor, arbitration, DRT, and CIRP claims; details incomplete.
Business Model & Segments
- Principal business operations suspended; financials reflect non-operating status during reporting period.