Grand Oak Canyons Distillery Limited concluded its rescheduled board meeting on September 5, 2026. The directors approved the reclassification of authorized share capital and recommended the ratification of M/s B. Kaushik & Associates as the company’s secretarial auditor.

The meeting, held at the registered office in Goregaon East, Mumbai, also covered the proposal for issuing 206,70,00,000 unlisted 2% Non-Convertible Preference Shares (NCPS) on a preferential basis. All resolutions require shareholder approval at the ensuing Annual General Meeting (AGM).

Board Resolutions

The board considered and approved three primary items during the session:

• Secretarial Auditor Ratification: The board recommended the appointment of M/s B. Kaushik & Associates as the secretarial auditor. There is no change in the existing auditor. The firm, based in Delhi, provides professional services in corporate and SEBI laws. This appointment is subject to shareholder approval at the AGM.
• Capital Restructuring: The board approved the reclassification of the company’s authorized share capital to create preference share capital. This requires approval under the Companies Act, 2013.
• Preferential Allotment: The board approved the issuance of 206,70,00,000 unlisted 2% NCPS on a preferential basis. This resolution also requires member approval at the AGM and relevant regulatory permissions.

Prabhakar Kumar, Managing Director, signed the intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting was originally scheduled for September 4 but was moved due to a technical error in filing the previous outcome.

Grand Oak Canyons Distillery reported a consolidated net loss of ₹502.73 lakh for the quarter ended June 30, 2026, a significant widening from the ₹4.45 lakh loss in the corresponding period last year.

The standalone entity recorded a narrower loss of ₹1.75 lakh, compared to ₹4.22 lakh in Q1FY26. The Board of Directors approved the unaudited financial results on August 12, 2026, pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.

Financial Performance

Total income from operations stood at ₹7.65 lakh for both standalone and consolidated entities, remaining flat against ₹7.72 lakh in the previous year's quarter. Other income was nil for the current quarter, whereas it contributed ₹3.19 lakh in the preceding quarter (Q4FY26).

Finance costs declined to ₹0.80 lakh from ₹1.35 lakh in the prior year quarter. However, other expenses remained elevated at ₹8.60 lakh compared to nil in the corresponding period.

What the Numbers Show

The divergence between standalone and consolidated results highlights a heavy reliance on associate performance. While the parent company’s operations incurred only a marginal loss of ₹1.75 lakh, the consolidated statement reflects a ₹500.98 lakh loss from associates and joint ventures. This single line item accounts for over 99% of the total consolidated loss, indicating that the group’s financial health is currently dictated by the performance of its equity investments rather than its core operational activities.

Auditor Review and Compliance

VRSK & Associates conducted the limited review of the interim financial information under Standard on Review Engagements (SRE) 2410. The auditors noted that interest on loans given and taken was not provided in the statements but confirmed no material misstatement otherwise. The company also submitted an undertaking confirming that Regulation 32 regarding deviation in use of proceeds is not applicable, as no public, rights, or preferential issues were made during the quarter.