Tijaria Polypipes Limited reported a net loss of ₹128.72 lakh for the financial year ended March 31, 2026, as revenue from operations remained nil. The company’s Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, on May 26, 2026. The filing reveals a continued financial strain with total expenses amounting to ₹151.01 lakh for the year, primarily driven by finance costs and depreciation.

Financial Performance

The company recorded a total income of ₹22.29 lakh for FY26, solely from other income, compared to ₹29.78 lakh in the previous year. For the quarter ended March 31, 2026, the net loss stood at ₹29.92 lakh. The basic and diluted earnings per share (EPS) for the year were reported at -₹0.45. The paid-up equity share capital remained unchanged at ₹2,862.66 lakh.

Auditor’s Disclaimer of Opinion

Amit Ramakant & Co., the statutory auditor, issued a disclaimer of opinion on the standalone financial results. The report highlights significant material uncertainties, including a default on loans amounting to ₹54.56 crore with Bank of India, which has been classified as a Non-Performing Asset (NPA). The auditor noted that the bank has forfeited equity shares worth ₹540.27 lakh belonging to promoters and directors.

The report further states that the management has not made interest provisions on the NPA account since July 1, 2022. Additionally, independent balance confirmations for receivables and advances totaling ₹2,517 lakh were not received, and no interest was accrued on these amounts. The auditor also pointed out that income tax, including deferred tax, has not been determined or provided for the financial year.

Operational and Compliance Issues

The auditor emphasized that there was no production of goods during the quarter. The company’s bank accounts were seized by the bank due to NPA status, forcing directors to make payments and receipts on behalf of the company from their personal accounts, a practice noted as a violation of Section 269SS of the Income Tax Act, 1961.

Physical verification of fixed assets was not conducted by the management. The textile segment, which has been closed for a long time, reported gross assets of ₹83.98 crore and a net block of ₹12.15 crore. The management stated that it intends to resume production once market conditions and finances improve.

Related Party Transactions

The company disclosed outstanding unsecured loans of ₹838.19 lakh from Key Management Personnel as of March 31, 2026. Additionally, the company took an additional loan of ₹5 crore from directors and ₹7 crore from M/s Nakshetra Asset Venture Limited, Nagpur, at 8% per annum to deposit with Bank of India for a potential One Time Settlement (OTS). The next hearing for the NCLT case regarding the company’s insolvency proceedings is scheduled for March 09, 2026.

Tijaria Polypipes has confirmed that its promoters and persons acting in concert have not created any fresh encumbrance on their shares during the financial year 2025-26. The disclosure, submitted to the stock exchanges, confirms that no new charges have been placed on shares held directly or indirectly by the promoters beyond those previously disclosed.

The declaration was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. Alok Jain Tijaria, Managing Director and Promoter, submitted the yearly disclosure on behalf of himself, other co-promoters, and persons acting in concert.

Regulatory Filing Details

The company communicated the confirmation to BSE Limited and National Stock Exchange of India Limited. The filing formally declares that the shareholding remains free of additional encumbrances for the specified financial year.

The disclosure was addressed to the Department of Corporate Services at BSE and the Listing Compliances department at NSE. A copy of the communication was also marked to the Audit Committee of Tijaria Polypipes Limited.