Progrex Ventures reports net loss of ₹14.39 lakh for FY26
Progrex Ventures Limited reported a net loss of ₹14.39 lakh for FY26, with zero revenue from operations. Total income fell to ₹45,000 from ₹90,000 in the previous year, while total expenses decreased marginally to ₹14.84 lakh. Shareholders' funds stood at ₹7.19 crore, and total assets declined to ₹8.38 crore.
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Progrex Ventures Limited has filed its audited annual financial results for the fiscal year ended March 31, 2026, with the BSE Ltd. The company, which has abandoned its manufacturing activities and reported no commercial operations during the year, posted a net loss of ₹14.39 lakh. This represents a slight increase from the net loss of ₹14.07 lakh recorded in the previous fiscal year ended March 31, 2025.
The financial statements reveal that revenue from operations was nil for both the current and previous years. Total income for FY26 stood at ₹45,000, derived solely from other income, which halved from the ₹90,000 reported in FY25. Total expenses for the year amounted to ₹14.84 lakh, marginally lower than the ₹14.98 lakh incurred in the prior year.
Financial Performance
The company's earnings per share (EPS) remained negative, with basic and diluted EPS reported at nil for both years due to the net loss position. The paid-up equity share capital remained constant at ₹3.60 crore, comprising 36,04,400 equity shares of ₹10 each. Reserves and surplus decreased to ₹3.59 crore as of March 31, 2026, from ₹3.73 crore in the previous year.
Balance Sheet Highlights
Progrex Ventures' total assets stood at ₹8.38 crore as of March 31, 2026, down from ₹8.49 crore in the previous year. The asset composition was heavily weighted towards current assets, primarily short-term loans and advances amounting to ₹7.83 crore. Cash and cash equivalents improved slightly to ₹8.46 lakh from ₹7.75 lakh in the prior year.
On the liabilities side, shareholders' funds totaled ₹7.19 crore, while deferred tax liabilities accounted for ₹1.03 crore. Current liabilities increased to ₹15.85 lakh, up from ₹11.50 lakh in the previous year, driven by higher short-term borrowings and provisions.
| Metric | FY26 (₹) | FY25 (₹) |
|---|---|---|
| Net Profit/Loss | (14,38,821) | (14,07,289) |
| Total Income | 45,000 | 90,000 |
| Total Expenses | 14,83,821 | 14,97,289 |
| Equity Share Capital | 3,60,44,000 | 3,60,44,000 |
| Reserves & Surplus | 3,58,71,086 | 3,73,09,917 |
| Total Assets | 8,38,46,973 | 8,48,51,304 |
Cash Flow Statement
The cash flow statement indicates a net outflow from operating activities of ₹9.89 lakh for the year. Investing activities provided a cash inflow of ₹10.60 lakh, primarily related to inter-corporate deposits and advances. Consequently, the company reported a net increase in cash and cash equivalents of ₹0.71 lakh, bringing the closing balance to ₹8.46 lakh.
The Board of Directors approved the financial results at a meeting held on May 13, 2026. The statutory auditors, M/s Jain Dhureja & Co., issued an unmodified opinion on the audit report.
What is the recovery timeline and legal strategy for recouping the ₹495.25 lakh inter-corporate deposit placed with Betwa Realtors Private Limited, given that no recovery was made during FY26?
Following the company's rebranding to Progrex Ventures Limited and abandonment of manufacturing activities, what new business vertical or revenue-generating operations is management planning to pursue to reverse the zero-revenue trend?
Given the auditor's observation that the work-in-progress of ₹45.47 lakhs seized by MPFC should have been written off in an earlier year, what regulatory or compliance consequences could Progrex Ventures face from BSE or SEBI for this delayed accounting treatment?
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