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.

Popees Care Limited (formerly known as Archana Software Limited) has announced a significant capital restructuring plan aimed at addressing its accumulated losses and improving its financial position. The company's Board of Directors approved a Scheme of Reduction of Share Capital on June 6, 2025, which will be presented for shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for September 16, 2025.

Key Details of the Proposed Capital Reduction

• The company plans to reduce its paid-up share capital by 99%, from Rs. 6,04,42,500 to Rs. 6,02,180.
• This reduction will be achieved by writing off Rs. 5,96,15,820 of fully paid-up capital and Rs. 2,24,500 of partly paid-up share capital against the company's accumulated losses of Rs. 6,69,03,332.
• Post-reduction, the company's share capital will consist of 60,218 fully paid-up equity shares of Rs. 10 each, down from the current 60,44,250 shares.
• The scheme proposes that shareholders will receive 1 equity share of Rs. 10 for every 100 shares currently held.

Rationale Behind the Move

Popees Care Limited has been facing financial challenges, with accumulated losses of Rs. 6,69,03,332 as of March 31, 2025. The company's net worth stands at a negative Rs. 64,60,832, indicating severe financial strain.

The management believes this capital reduction will:

1. More accurately represent the company's financial position
2. Facilitate efforts to raise funds and obtain debt from financial institutions
3. Enable the company to approach investors for fresh capital infusion
4. Provide a cleaner balance sheet for potential business growth

Impact on Shareholders and Creditors

The company has emphasized that the proposed reduction will not alter the shareholding pattern or involve any payout to shareholders. It also does not envisage any impact on creditors' claims or outstanding dues.

Regulatory Process and Timeline

The capital reduction scheme requires approval from:

1. Shareholders at the upcoming AGM on September 16, 2025
2. The National Company Law Tribunal (NCLT)
3. Other regulatory authorities as applicable

Popees Care Limited has stated that it will file the necessary applications with the NCLT and other relevant authorities to implement the scheme once shareholder approval is obtained.

Management's Perspective

Mr. Shaju Thomas, Director of Popees Care Limited, commented on the proposed scheme: "This capital reduction is a crucial step towards restructuring our balance sheet and positioning the company for future growth. By addressing our accumulated losses, we aim to create a more attractive proposition for potential investors and lenders."

The company's management is optimistic that this move will lay the foundation for a turnaround in its financial performance and enable it to pursue new business opportunities in the coming years.

Shareholders are advised to carefully review the detailed scheme document and seek independent financial advice before voting on the proposal at the upcoming AGM.