* The Company has taken unsecured loan of INR 10 lakhs from Mr Saurabh Goyal , director of the Company, free of interest and is repayable on demand.
* The Company has been sanctioned an unsecured loan facility of INR 500 carrying interest at 8% per annum from Sincerely Finance & Investment Private Limited. As on March 31, 2026, the actual amount disbursed and outstanding against this facility is INR 297.69 lakhs. The loan is repayable in a bullet payment at the end of a tenure of 3 years, i.e., on 30 June 2028. The loan is unsecured and no charge has been created against the assets of the Company.
* The Company has been sanctioned an unsecured loan facility of INR 500 lakhs carrying interest at 8% per annum from Coeur Enterprises Private Limited. As on March 31, 2026, the actual amount disbursed and outstanding against this facility is INR 371.53 lakhs. The loan is repayable in a bullet payment at the end of a tenure of 3 years, i.e., on 28 December 2028. The loan is unsecured and no charge has been created against the assets of the Company.
* The Company has been sanctioned an unsecured overdraft loan facility of INR 10,000 lakhs carrying interest at 7 -12 % per annum from Gogia Leasing Limited. During the financial year ended March 31, 2026, whole of the amount outstanding has been repaid.
The Company's taxable income for the current year has been adjusted against brought forward business losses available under the Income-tax Act, 1961. Accordingly, provision for current tax is not required for the year ended March 31, 2026.
During the year, the Company has exercised the option permitted under Section 115BAA of the Income-tax Act, 1961 and accordingly, income tax has been computed at the concessional rate prescribed thereunder.
Deferred tax assets and deferred tax liabilities have been offset wherever the Company has a legally enforceable right to set off current tax assets against current tax liabilities and where the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority.
24 Financial Instruments
(Amounts in INR lakhs, unless otherwise stated)
(a) Financial risk management objective and policies
This section gives an overview of the significance of financial instruments for the company and provides additional information on the balance sheet. Details of significant accounting policies, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument.
(b) FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES:
The Company's principal financial liabilities, other than derivatives, comprise loans and borrowings, trade and other payables and advances from Customers. The Company's principal financial assets include Investment, loans and advances, trade and other receivables and cash and bank balances that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the management of these risks. The Board of Directors reviews and agrees policies for managing each of these risks, which are summarised below.
Market Risk
Market risk is the risk that the fair value of future cash flows of a financial assets will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk. Financial Assets affected by market risk include loans and borrowings, deposits and derivative financial instruments.
Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's long-term debt obligations with floating interest rates.
Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company's exposure to the risk of changes in foreign exchange rates relates primarily to the Company's operating activities (when revenue or expense is denominated in a foreign currency).
Credit Risk
Credit risk is the risk that a counter party will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables).
Trade Receivables
Customer credit risk is managed by each business unit subject to the Company's established policy, procedures and control relating to customer credit risk management. Outstanding customer receivables are regularly monitored. An impairment analysis is performed at each reporting date on an individual basis for major clients.
Financial Instruments and Cash Deposits
Credit risk from balances with banks and financial institutions is managed by the Company's treasury department in accordance with the Company's policy. Investments of surplus funds are made only with approved authorities. Credit limits of all authorities are reviewed by the Management on regular basis.
Liquidity Risk
The Company monitors its risk of a shortage of funds using a liquidity planning tool.The Company's objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts, Letter of Credit and working capital limits.
For the purpose of the Company's capital management, capital includes issued equity capital, securities premium and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Company's capital management is to safeguard continuity, maintain a strong credit rating and healthy capital ratios in order to support its business and provide adequate return to shareholders through continuing growth.
The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. The funding requirement is met through a mixture of equity and internal accruals.
26 Post Reporting Events
No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation.
27 The Company has not obtained registration under PF & ESIC Act, as required under the prevailing law, since the number of employees employed have not exceeded the prescribed limit.
28 The Board of director of the Company is chief operating desicion maker (CODM) who monitors the operating result of the Company. CODM has identified only one repotable segment as the Company is providing telecom and communication equipment, including cables, optical fiber systems, networking hardware etc. The operations of the Company are located in India.
29 During the period under review, the Existing Promoters, pursuant to the Share Purchase Agreement dated June 26, 2025, acquired 2,13,50,260 Equity Shares and, further, acquired 1,380 Equity Shares through the Open Offer dated July 03, 2025, at a price of Rs. 2 per Equity Share, thereby aggregating their shareholding to 70.17% and acquiring a controlling/substantial equity stake in Grand Foundry Limited, in compliance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
30 The existing promoters of Grand Foundry Limited have entered into a Share Purchase Agreement dated March 03, 2026 with the acquirer/new promoter "SAR Televenture Limited" for transfer of 2,13,51,740 Equity Shares representing 70.17% of the total paid-up equity share capital of the Company.
Further, pursuant to Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the acquirer/new promoter has made an Open Offer dated March 16, 2026 for acquisition of up to 79,11,800 Equity Shares at a price of Rs. 2.50 per Equity Share, representing 26% of the paid-up equity share capital of the Company.
The aforesaid acquisition and Open Offer process is expected to be completed by June 2026.
31 During the period, the New Promoters have acquired a controlling / substantial equity stake in Grand Foundry Limited ("the Company") in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and other applicable laws.
The Old Promoters of the Company, vide Share Purchase Agreement dated June 26, 2025, agreed to sell their shareholding of 2,13,50,260 equity shares, representing 70.16% of the total paid-up equity share capital of the Company.
Consequent to this, and pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011, an Open Offer was announced on July 03, 2025 for the acquisition of 79,11,800 equity shares at ?2 per equity share, representing 26% of the paid-up equity share capital.
As part of the acquisition process:
Mr. Rakesh Kumar Bansal acquired a total of 42,71,452 equity shares, comprising: 42,70,072 equity shares acquired through the Share Purchase Agreement; and 1,380 equity shares acquired through the Open Offer on December 31, 2025.
Mr. Gaurav Goyal acquired 1,70,80,288 equity shares of the Company through the Share Purchase Agreement on January 02, 2026.
These acquisitions have resulted in a change in control and reconstitution of the Promoter Group of the
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32 There is no contingent liability as on March 31, 2026.
35 Other information required under Schedule III of the Companies Act 2013:
a) The Company does not have any undisclosed income, which has not been recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessment under the Income tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act,1961).
b) No proceeding have been initiated or pending against the Company for holding any benami property under the Benami Transaction (Prohibition) Act, 1988(45 of 1988) and the rules made there under.
c) The Company have not traded or invested in crypto currency or virtual currency during the financial year ended March 31, 2026.
d) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) during the financial ending March 31, 2026 to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
e) The Company has not received funds (either borrowed funds or share premium or any other sources or kind of funds) during the financial ending March 31, 2026 from any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Company shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (Ultimate Beneficiaries) or provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
f) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
g) The Company has not been declared wilful defaulter by any banks / financial institution.
h) The Company has not held any transaction with another company whose name has been struck off.
i) The Company has not approved any scheme of arrangement.
j) The Company does not have any immovable properties whose title deeds are not in the name of the Company.
k) The Company has not granted loan to promoter director and KMPs and related parties, severally or jointly with
any other person during the year.
l) Provision of Section 135 of the Companies Act 2013 related to Corporate Social Responsibility is not applicable to the Company.
37 As on 31 March 2026, the Company has accumulated losses of ? 545.34 lakhs (31 March 2025: ? 563.47 lakhs). The management believes that sufficient profits in future will be generated through sale of unsold inventory/existing major contracts with the customers and has other plans to strengthen the financial position of the Company in the coming years. In view of the future business outlook and continued financial support provided by the directors, the management is of the opinion that it is appropriate to prepare financial statements on a going concern basis.
38 Previous year's figure have been regrouped and rearranged whenever necessary to make them comparable with those of the current year.
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