Koiya International Limited (formerly Popees Cares Limited) reported a net loss of ₹31,36,255 for the financial year ended March 31, 2026. This represents a reduction in losses compared to the ₹41,84,045 loss recorded in the previous fiscal year.

The company disclosed that it did not earn any revenue from operations during FY26. The outcome was announced following the 32nd Annual General Meeting held via video conferencing on September 30, 2026. Statutory auditors M/s. Mahesh C. Solanki & Co. issued their report without qualifications for the period ended March 31, 2026.

Governance and board changes

The AGM addressed several key governance matters, including the regularization and appointment of directors. Mrs. Kattakota Satyabati Devi was appointed as Managing Director for a three-year term from August 11, 2026, to August 10, 2029. Her appointment as Director was also regularized. Additionally, Mr. Arunraj Charivukalayil Baburaj was regularized as a Non-Executive, Non-Independent Director.

Mrs. Linta Purayidathil Jose, Whole-time Director, retired by rotation and was re-appointed as a director. A special resolution was also passed regarding the modification of Para 10.3 of the Scheme of Reduction of Share Capital relating to the shareholding pattern.

Meeting proceedings

The meeting commenced at 2:00 pm and concluded at 2:17 pm. A total of 51 shareholders attended through video conferencing or other audio-visual means. The requisite quorum under Section 103 of the Companies Act, 2013, was present. Mr. Omkar Mundhra, Independent Director, chaired the meeting.

Voting on the resolutions was conducted through remote e-voting and electronic voting at the meeting. The scrutinizer’s report and detailed voting results will be submitted to BSE Limited and placed on the company website within two working days.

What the numbers show

The financial data reveals a persistent operational challenge: while the bottom-line loss narrowed by approximately ₹10.5 lakh year-on-year, this improvement occurred against a backdrop of zero operating revenue. The reduction in net loss suggests cost containment or lower non-operating expenses rather than any improvement in core business activity, given the absence of top-line income.

Koiya International reported a net loss of ₹31.36 lakh for the financial year ended March 31, 2026, widening from ₹41.84 lakh in the prior year, as the company continued to generate no revenue from operations. The statutory auditors, Mahesh C. Solanki & Co, issued an unmodified opinion on the standalone audited financial results, confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For the quarter ended March 31, 2026, the company reported a net loss of ₹4.76 lakh, a slight improvement from the loss of ₹5.87 lakh recorded in the corresponding period of the previous year. Total revenue for the quarter was nil, with other income also remaining at zero. Total expenses for the quarter amounted to ₹4.76 lakh, driven primarily by other expenses of ₹4.39 lakh and depreciation of ₹0.37 lakh.

Financial Performance

The absence of operational revenue persisted throughout the fiscal year. Total expenses for FY26 declined to ₹31.36 lakh from ₹42.16 lakh in FY25. This reduction was largely attributed to a decrease in other expenses, which fell to ₹25.95 lakh from ₹40.10 lakh in the previous year. Employee benefit expenses for the year rose to ₹5.05 lakh from ₹1.38 lakh, while depreciation costs decreased to ₹0.37 lakh from ₹0.68 lakh.

The company's earnings per share (EPS) for the year stood at ₹-0.52, basic and diluted, compared to ₹-0.69 in the previous year. The paid-up equity capital as of March 31, 2026, was recorded at ₹604.43 lakh, with a face value of ₹10 per share.

Balance Sheet and Cash Flows

As of March 31, 2026, Koiya International's total assets stood at ₹26.91 lakh, a marginal increase from ₹23.98 lakh in the previous year. Current assets, comprising cash and cash equivalents of ₹4.57 lakh and other current assets of ₹21.36 lakh, formed the bulk of the asset base. Non-current assets, primarily property, plant, and equipment, were valued at ₹0.97 lakh.

On the liabilities side, the company reported total liabilities of ₹122.88 lakh, up from ₹88.59 lakh in the prior year. This increase was driven by other current liabilities, which rose to ₹119.14 lakh from ₹86.14 lakh. Equity showed a deficit of ₹95.97 lakh, compared to ₹64.61 lakh in the previous year, reflecting the accumulated losses.

Cash flow from operating activities for FY26 was negative at ₹0.75 lakh, compared to a positive inflow of ₹1.33 lakh in the previous year. The company did not generate cash from investing or financing activities during the year. Consequently, cash and cash equivalents decreased to ₹4.57 lakh as of March 31, 2026, from ₹5.32 lakh a year earlier.