Inditalia Refcon Limited submitted a revised annual report for FY26 to the Bombay Stock Exchange (BSE) on September 7, 2026, correcting an inadvertent factual error in its disclosures. The revision specifically addresses the directorship details of Mr. Vipul Rajendrabhai Gandhi, a Non-Executive Non-Independent Director.

The original report incorrectly listed his directorship in Artistbaba Media Private Limited, which had been struck off in 2024. The company informed the BSE that this correction does not alter the financial results approved by the Board on September 4, 2026, nor does it change the date, time, or venue of the 40th Annual General Meeting (AGM), scheduled for September 28, 2026, at 12:30 pm in Mumbai.

Financial Performance

The financial results for FY26 remain unchanged by the revised notice. Inditalia Refcon reported a net loss of ₹2.02 lakh for the fiscal year, a reduction from the ₹6.78 lakh loss recorded in FY25. The company had no manufacturing or trading activities during the period. Gross income stood at ₹31.84 lakh, primarily driven by provisions written back, while total expenses amounted to ₹33.86 lakh. No dividend was proposed due to the losses incurred.

Governance and Listing Status

The auditors expressed doubts regarding the going concern status, noting that accumulated losses have eroded the entire net worth of the company. Trading of the company's equity shares on BSE has remained suspended since 2002. The company continues to take steps to regularize its listing, including clearing outstanding dues to depositories and appointing M/s. Purva Shareregistry (India) Private Limited as its new Registrar and Share Transfer Agent.

The record date for determining eligibility to attend the AGM is fixed as September 21, 2026.

Inditalia Refcon Limited reported a loss of ₹1.75 lakh for the quarter ended June 30, 2026, reversing the profit of ₹28.91 lakh recorded in the preceding quarter. The company generated zero revenue from operations during the period, marking a continuation of its operational pause as it prepares to restart business activities.

The loss widened year-on-year from ₹10.08 lakh in Q1FY25. Total expenses for the quarter stood at ₹1.75 lakh, driven primarily by other expenses of ₹1.29 lakh and employee benefits of ₹0.46 lakh. The preceding quarter’s profit was largely attributable to exceptional items, which were absent in the current period.

Operational Strategy and Governance

The Board of Directors approved the unaudited financial results on August 14, 2026. The accounts have been prepared on a 'Going Concern' basis, supported by fund infusion through loans from directors.

Key strategic developments include:

• Appointment of M/s. Purva Share Registry as the new Registrar and Transfer Agent (RTA) to facilitate full dematerialization.
• Clearance of all arrears owed to depository participants (CDSL & NSDL), paving the way for investors to hold shares in demat form.
• Plans to approach the Bombay Stock Exchange (BSE) for the revocation of trading suspension to resume listing.

Management intends to initiate business operations by leasing reefer containers, with a long-term goal of starting manufacturing once a market foothold is established.

What the Numbers Show

The financial data reveals a complete absence of core business activity. With revenue from operations at ₹0.00 lakh for the current quarter, the preceding quarter, and the corresponding period last year, the company is currently non-operational. The shift from a profit of ₹28.91 lakh in Q4FY26 to a loss of ₹1.75 lakh in Q1FY26 is entirely due to the absence of exceptional items that boosted the previous quarter's bottom line, rather than any change in operational cash flows, which remain nil.

Corporate Actions

The Board also addressed an administrative rectification regarding Mr. Navin Sheth’s designation. His role was inadvertently listed as “Whole-time Director” in Form DIR-12 filings; it has been corrected to “Non-Executive Director.” Mr. Sheth continues to serve as Non-Executive Director and Chief Financial Officer, with no change to his tenure or responsibilities.