Ind-Agiv Commerce Ltd submitted revised standalone and consolidated financial results for the quarter ended June 30, 2026, correcting an inadvertent submission of auditor's reports instead of limited review reports. The company confirmed no change in financial figures, reporting zero revenue and a net loss of ₹10.76 lakh on a standalone basis for Q1FY27.

The revised filing follows a request to BSE Limited to take the corrected documents on record. Managing Director Lalit Lajpat Chouhan signed the submission, stating that the error involved attaching full auditor's reports rather than the required limited review reports for the period. The company emphasized that the underlying financial data remains identical to the previously submitted results.

Financial performance overview

For the quarter ended June 30, 2026, Ind-Agiv Commerce recorded no revenue from operations on both standalone and consolidated bases. This contrasts with ₹157.00 lakh in standalone revenue and ₹163.62 lakh in consolidated revenue during the corresponding quarter of the previous year (Q1FY26). Total income for Q1FY27 stood at nil, while total expenditure amounted to ₹10.76 lakh standalone and ₹11.49 lakh consolidated.

The standalone net loss for Q1FY27 was ₹10.76 lakh, compared to a loss of ₹11.28 lakh in Q1FY26. On a consolidated basis, the net loss was ₹11.49 lakh, versus ₹10.62 lakh in the prior year period. Earnings per share (basic) stood at -1.76 for the standalone entity.

Auditor qualifications and debt status

The independent auditor, H.G. Sarvaiya & Co., issued a qualified opinion citing two primary issues. First, the company has not finalized its operating software, using multiple ERP systems without audit trail features, with some records maintained manually or via Excel sheets. Second, statutory dues provided but not paid totaled ₹17.88 lakh, primarily comprising TDS, PF, and ESIC contributions.

A significant portion of the company's liabilities involves outstanding overdue loans from NBFCs and other lenders. As of June 30, 2026, the total overdue amount from Redfort Capital Finance Co. Pvt Ltd stood at ₹7.77 crore (₹4.37 crore + ₹3.39 crore), with matters under court proceedings. Additional working capital loans from Bajaj Fin Serve, Clix Capital, Neo Growth Credit, and Insta Capital showed overdue amounts totaling approximately ₹57.87 lakh in principal and interest penalties. The management stated it is working on restructuring its total debt.

What the numbers show

The stark divergence between the substantial reduction in total expenditure (from ₹168.28 lakh to ₹10.76 lakh) and the complete absence of revenue highlights a cessation of core operational activities rather than mere cost-cutting. While the net loss narrowed slightly by 4.6% YoY on a standalone basis, this improvement is driven entirely by the elimination of cost of materials consumed (which fell from ₹117.05 lakh to nil) and employee benefits expenses (falling from ₹26.15 lakh to ₹3.85 lakh). The persistence of finance costs at ₹3.13 lakh despite zero revenue indicates that debt servicing obligations remain active while income generation has stalled.

Ind-Agiv Commerce appointed Ravi Bhushan Prasad as Company Secretary and Compliance Officer effective September 22, 2026. The board approved the appointment following recommendations from the Nomination and Remuneration Committee.

Prasad will serve as a Key Managerial Personnel (KMP) for the company. His appointment aligns with Section 203 of the Companies Act, 2013, and Regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 4:30 pm and concluded at 4:45 pm on the same day.

Profile and professional background

Ravi Bhushan Prasad is a qualified Company Secretary with membership number ACS67940 from the Institute of Company Secretaries of India (ICSI). He holds a Bachelor's degree in Commerce from Savitribai Phule Pune University and a degree in Law (LL.B).

He brings over four years of professional experience in corporate secretarial practice, spanning both regulatory and corporate roles. His background includes service as a Young Professional at the Registrar of Companies (ROC), Kolkata, and the Central Registration Centre under the Ministry of Corporate Affairs. Prior to this appointment, he held Company Secretary positions at Gols Edtech Private Limited and Stellar Capital Services Limited.

Areas of expertise

• Compliance under the Companies Act, 2013
• FEMA/RBI regulations, GST, and Income Tax
• Secretarial audit
• Drafting and vetting of corporate agreements, board resolutions, and statutory filings

Regulatory disclosures

The company disclosed that Prasad is not related to any director. The appointment was made pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, read with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Lalit Lajpat Chouhan, Managing Director, signed the intimation to BSE Limited.