Prabhatam Infra Venture Limited (formerly B J Duplex Boards Limited) reported a widened net loss of ₹27.02 lakh for the quarter ended June 30, 2026, as operating costs outpaced revenue generation in its newly launched lease rental business. The company’s revenue from operations was ₹12.75 lakh, while total expenses surged to ₹39.88 lakh, driven largely by finance costs of ₹13.12 lakh and depreciation charges of ₹11.04 lakh. This marks a significant deterioration from the net loss of ₹8.64 lakh recorded in Q1FY25, highlighting the initial financial burden associated with the company’s strategic pivot.

The Board of Directors approved the standalone unaudited financial results at a meeting held on August 11, 2026, at the company’s registered office in New Delhi. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, V.R. Bansal & Associates, who issued an unmodified opinion pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company operates under Indian Accounting Standard 34 (Ind AS 34) for interim financial reporting.

Financial Performance Overview

The financial data for Q1FY26 reveals a challenging operational landscape as the company transitions into its new line of business. While revenue from operations increased from nil in the prior year to ₹12.75 lakh, this growth was insufficient to offset the substantial fixed and financing costs incurred during the period.

Finance costs accounted for ₹13.12 lakh of the total expenses, up from ₹1.56 lakh in the corresponding quarter last year. Depreciation and amortization expenses were ₹11.04 lakh, compared to nil in Q1FY25. Employee benefits expenses remained relatively stable at ₹3.60 lakh, while other expenses rose to ₹12.12 lakh from ₹6.10 lakh in the previous year. The earnings per share (EPS) declined to ₹(0.14) from ₹(0.05) in Q1FY25.

Strategic Shift and Capital Raise

The financial results reflect the impact of the company’s name change from B J Duplex Boards Limited to Prabhatam Infra Venture Limited, effective June 2, 2026. The company disclosed that all income and expenses relate to its new line of business: lease rentals. This strategic shift aims to reposition the company, but the initial quarter demonstrates significant upfront costs.

Additionally, the company noted that it has received in-principle approval from BSE Limited on July 6, 2026, for a preferential issue of equity shares. The proposed issue comprises 20,40,10,350 equity shares of face value ₹1 each at an issue price of ₹1 per share. This includes 14,40,10,350 shares for consideration other than cash and 6,00,00,000 shares for cash consideration, subject to regulatory approvals under the Companies Act, 2013, and SEBI regulations.

What the Numbers Show

The widening loss in Q1FY26 underscores the capital-intensive nature of Prabhatam Infra Venture Limited’s transition into the lease rental segment. With finance costs and depreciation constituting over 60% of total expenses, the company is bearing significant fixed burdens before achieving scale in its new operations. The absence of raw material or inventory costs confirms that the business model is asset-light in terms of trading but heavy in terms of asset deployment and financing. Investors should monitor whether the preferential issue proceeds will alleviate liquidity pressures or further dilute existing shareholders without immediate operational turnaround.

Prabhatam Infra Venture Limited (formerly B J Duplex Boards Limited) has appointed M/s. Parveen Rastogi & Co., Company Secretaries in Practice, as its Secretarial Auditor for the financial year 2025-26. The Board of Directors approved the appointment during a meeting held on August 11, 2026, at the company’s registered office in New Delhi. This engagement ensures compliance with statutory audit requirements under Section 204 of the Companies Act, 2013 and Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The decision was formalized through a Board meeting that commenced at 03:00 P.M. and concluded at 03:50 P.M. on August 11, 2026. The company disclosed the outcome pursuant to Regulation 30 of the SEBI Listing Regulations, notifying the BSE Limited regarding the change in auditors. The appointment is specifically for conducting the Secretarial Audit for FY26.

Auditor Details

The following details outline the appointment structure and auditor profile as disclosed in the filing:

M/s. Parveen Rastogi & Co. is described as a firm engaged in providing professional services in Secretarial Audit, Corporate Law, Securities Laws, and other allied corporate compliance matters. The filing confirms that there are no applicable relationships between the directors and the appointed auditor, stating "Not Applicable" under disclosure of relationships.

Regulatory Compliance

The appointment aligns with mandatory compliance frameworks for listed entities in India. By engaging an independent firm for the Secretarial Audit, Prabhatam Infra Venture Limited aims to verify adherence to corporate governance norms and legal requirements for the upcoming fiscal year. The Board’s approval signifies the completion of the internal procedural steps required before the audit engagement begins.