| General Information | ||
| BSE Scrip code | 000000 | |
| NSE Symbol* | NOTLISTED | |
| MSEI Symbol * | ACEEXPO | |
| ISIN* | INE781X01019 | |
| Type of company | Main Board | |
| Class of security | Equity | |
| Date of start of financial year | 01-04-2025 | |
| Date of end of financial year | 31-03-2026 | |
| Date of board meeting when results were approved | 14-02-2026 | |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 06-02-2026 | |
| Description of presentation currency | INR | |
| Level of rounding | Lakhs | |
| Reporting Type | Quarterly | |
| Reporting Quarter | Third quarter | |
| Nature of report standalone or consolidated | Standalone | |
| Whether results are audited or unaudited for the quarter ended | Audited | |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Audited | |
| Segment Reporting | Single segment | |
| Description of single segment | LEATHER | |
| Start date of board meeting | 14-02-2026 | |
| Start time of board meeting | 04:00:00 | |
| End date of board meeting | 14-02-2026 | |
| End time of board meeting | 04:20:00 | |
| Whether cash flow statement is applicable on company | ||
| Type of cash flow statement | ||
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification | |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | true | |
| No. of times funds raised during the quarter | 1 | |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | false | Textual Information(1) |
Amount in (Lakhs)
| Financial Results - Ind-AS | ||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | ||
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | ||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | ||
| Whether results are audited or unaudited | Audited | Audited | ||
| Nature of report standalone or consolidated | Standalone | Standalone | ||
| Part I | Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column. | |||
| 1 | Income | |||
| Revenue from operations | 1.40 | 1.40 | ||
| Other income | 0.00 | 0.31 | ||
| Total income | 1.40 | 1.40 | ||
| 2 | Expenses | |||
| (a) | Cost of materials consumed | 1.28 | 30.20 | |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 | |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 0.00 | 0.00 | |
| (d) | Employee benefit expense | 7.13 | 7.13 | |
| (e) | Finance costs | 10.67 | 32.44 | |
| (f) | Depreciation, depletion and amortisation expense | 4.25 | 4.25 | |
| (g) | Other Expenses | |||
| 1 | Other Expenses | 4.52 | 4.52 | |
| Total other expenses | 4.52 | 17.09 | ||
| Total expenses | 27.85 | 27.85 | ||
| 3 | Total profit before exceptional items and tax | 26.45 | 80.47 | |
| 4 | Exceptional items | 0.00 | 0.00 | |
| 5 | Total profit before tax | 26.45 | 80.47 | |
| 6 | Tax expense | |||
| 7 | Current tax | 0.00 | 0.00 | |
| 8 | Deferred tax | 0.00 | 0.00 | |
| 9 | Total tax expenses | 0.00 | 0.00 | |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 | |
| 11 | Net Profit Loss for the period from continuing operations | 26.45 | 26.45 | |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 | |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 | |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 | |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 | |
| 16 | Total profit (loss) for period | 26.45 | 80.47 | |
| 17 | Other comprehensive income net of taxes | 0.00 | 0.00 | |
| 18 | Total Comprehensive Income for the period | 26.45 | 80.47 | |
| 19 | Total profit or loss, attributable to | |||
| Profit or loss, attributable to owners of parent | ||||
| Total profit or loss, attributable to non-controlling interests | ||||
| 20 | Total Comprehensive income for the period attributable to | |||
| Comprehensive income for the period attributable to owners of parent | ||||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | ||||
| 21 | Details of equity share capital | |||
| Paid-up equity share capital | 565.28 | 565.28 | ||
| Face value of equity share capital | 10 | 10 | ||
| 22 | Reserves excluding revaluation reserve | |||
| 23 | Earnings per share | |||
| i | Earnings per equity share for continuing operations | |||
| Basic earnings (loss) per share from continuing operations | -0.47 | -0.47 | ||
| Diluted earnings (loss) per share from continuing operations | 0 | 0 | ||
| ii | Earnings per equity share for discontinued operations | |||
| Basic earnings (loss) per share from discontinued operations | -0.47 | -0.47 | ||
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | ||
| iii | Earnings per equity share (for continuing and discontinued operations) | |||
| Basic earnings (loss) per share from continuing and discontinued operations | -0.94 | -0.94 | ||
| Diluted earnings (loss) per share from continuing and discontinued operations | 0 | 0 | ||
| 24 | Debt equity ratio | |||
| 25 | Debt service coverage ratio | |||
| 26 | Interest service coverage ratio | |||
| 27 | Remarks for debt equity ratio | |||
| 28 | Remarks for debt service coverage ratio | |||
| 29 | Remarks for interest service coverage ratio | |||
| 30 | Disclosure of notes on financial results | |||
Amount in (Lakhs)
| Other Comprehensive Income | |||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |
| Whether results are audited or unaudited | Audited | Audited | |
| Nature of report standalone or consolidated | Standalone | Standalone | |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| No records available | |||
| Total Amount of items that will not be reclassified to profit and loss | |||
| 2 | Income tax relating to items that will not be reclassified to profit or loss | ||
| 3 | Amount of items that will be reclassified to profit and loss | ||
| No records available | |||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | ||
Amount in (Lakhs)
| Details of Impact of Audit Qualification | |||
| Whether results are audited or unaudited | Audited | ||
| Declaration of unmodified opinion or statement on impact of audit qualification | Statement on impact of audit qualification | ||
| Auditor's opinion | Qualified opinion | ||
| Declaration pursuant to Regulation 33(3)(d) of SEBI(LODR) Regulation, 2015:The company declares that its Statutory Auditor / s have issued an Audit Report with unmodified opinion for the period on Standalone results | |||
| Sr.No | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto |
| 1 | A R S A N & CO. | true | 31-03-2026 |
Amount in (Lakhs)
| Financial details | |||
| Sr. | Particulars | Audited Figures (as reported before adjusting for qualifications) | Adjusted Figures (audited figures after adjusting for qualifications) |
| 1 | Turnover / Total income | 1.40 | 1.40 |
| 2 | Total Expenditure | 27.85 | 27.85 |
| 3 | Net Profit/(Loss) | 26.45 | 26.45 |
| 4 | Earnings Per Share | -0.47 | -0.47 |
| 5 | Total Assets | 627.11 | 627.11 |
| 6 | Total Liabilities | 627.11 | 627.11 |
| 7 | Net Worth | 52.41 | 52.41 |
| Audit qualification | |||||||
| Sr. | Details of Audit Qualification | Type of Audit Qualification | Frequency of qualification | For Audit Qualification(s) where the impact is quantified by the auditor | For Audit Qualification(s) where the impact is not quantified by the auditor | ||
| Management's Views | (i) Management's estimation on the impact of audit qualification | (ii) If management is unable to estimate the impact, reasons for the same | Auditors Comments on (i) or (ii) above | ||||
| 1 | Textual Information(1) | Qualified opinion | Repetitive | Textual Information(2) | Textual Information(3) | Textual Information(4) | Textual Information(5) |
| 2 | Textual Information(6) | Qualified opinion | Repetitive | Textual Information(7) | Textual Information(8) | Textual Information(9) | Textual Information(10) |
| Textual Information(1) | The inventories as at 31st December, 2025, primarily comprise of multiple qualities and technical specifications of raw and finished leather. As per the requirements of Indian Accounting Standard (Ind AS) 2, Inventories, these should be measured at the lower of cost and net realizable value. The management has provided documents for the cost of inventories and its assessment of the estimated net realizable value based on prevailing market conditions. However, due to the specialized nature of the raw and finished leather industry, determining the net realizable value requires technical evaluation and domain-specific knowledge. In the absence of such expertise, we were unable to independently evaluate the appropriateness of the net realizable value estimates provided by the management. Accordingly, we are unable to comment on whether any adjustments are required in respect of the carrying value of inventories as at the balance sheet date and the consequential impact, if any, on the statement of profit and loss. |
| Textual Information(2) | NO QUANTIFIED |
| Textual Information(3) | The statutory auditors have conducted physical verification of the Companys inventory and have not raised any qualification with respect to its quantity or physical condition. The Company has valued the inventory as at 31st December, 2025 in accordance with the principles laid down under Indian Accounting Standard (Ind AS) 2 Inventories, i.e., at the lower of cost and net realizable value. Management has undertaken its own assessment of the inventorys realizable value based on current market trends, prevailing industry practices, and historical data. A portion of the inventory has been carried forward from earlier financial years in the normal course of business, and its valuation methodology has been applied consistently. However, due to limited market transactions and volatility in price discovery during the financial year, certain supporting documentation relied upon for determining net realizable value was not in a format sufficient to meet the auditors evidentiary requirements. Management stands by the valuation principles applied and believes that the carrying value of the inventory is fair and appropriately reflects realizable values under current conditions. |
| Textual Information(4) | The statutory auditors have conducted physical verification of the Companys inventory and have not raised any qualification with respect to its quantity or physical condition. The Company has valued the inventory as at 31st December, 2025 in accordance with the principles laid down under Indian Accounting Standard (Ind AS) 2 Inventories, i.e., at the lower of cost and net realizable value. Management has undertaken its own assessment of the inventorys realizable value based on current market trends, prevailing industry practices, and historical data. A portion of the inventory has been carried forward from earlier financial years in the normal course of business, and its valuation methodology has been applied consistently. However, due to limited market transactions and volatility in price discovery during the financial year, certain supporting documentation relied upon for determining net realizable value was not in a format sufficient to meet the auditors evidentiary requirements. Management stands by the valuation principles applied and believes that the carrying value of the inventory is fair and appropriately reflects realizable values under current conditions. |
| Textual Information(5) | NONE |
| Textual Information(6) | We draw attention to the existence of a material uncertainty that may cast significant doubt on the Companys ability to continue as a going concern. This is primarily due to the accumulated impact of historical financial declines, resulting in the Company incurring substantial cash losses during the current period and its current liabilities significantly exceeding its current assets as at the balance sheet date. As required by Ind AS 1, Presentation of Financial Statements, management is obligated to assess and adequately disclose these material uncertainties, which the financial statements currently fail to do. |
| Textual Information(7) | NOT QUANTIFIED |
| Textual Information(8) | The financial statements for the Quarter ended 31st December, 2025 have been prepared on a going concern basis, as management believes that the Company has the ability to continue its operations in the foreseeable future. The decline in revenue during the current financial year has been primarily due to a shift in market dynamics and delay in securing new orders at viable pricing levels. This has impacted the cash flow position and contributed to a temporary mismatch between current assets and current liabilities. In response, the Company has initiated strategic measures to expand its presence in the domestic market. Management has identified new customer segments and commenced engagement with local buyers, with the objective of ensuring a stable and recurring order book. Internal cost rationalization measures and operational efficiencies are also being implemented to support financial sustainability. While these circumstances present challenges, management has factored them into its assessment and remains confident in the Companys ability to overcome short-term uncertainties. Disclosure in the financial statements will be further enhanced to adequately reflect managements evaluation of the going concern assumption, in line with Ind AS 1 Presentation of Financial Statements. |
| Textual Information(9) | The financial statements for the Quarter ended 31st December, 2025 have been prepared on a going concern basis, as management believes that the Company has the ability to continue its operations in the foreseeable future. The decline in revenue during the current financial year has been primarily due to a shift in market dynamics and delay in securing new orders at viable pricing levels. This has impacted the cash flow position and contributed to a temporary mismatch between current assets and current liabilities. In response, the Company has initiated strategic measures to expand its presence in the domestic market. Management has identified new customer segments and commenced engagement with local buyers, with the objective of ensuring a stable and recurring order book. Internal cost rationalization measures and operational efficiencies are also being implemented to support financial sustainability. While these circumstances present challenges, management has factored them into its assessment and remains confident in the Companys ability to overcome short-term uncertainties. Disclosure in the financial statements will be further enhanced to adequately reflect managements evaluation of the going concern assumption, in line with Ind AS 1 Presentation of Financial Statements. |
| Textual Information(10) | NONE |
| Signatories details | |
| Name of CEO / Managing director | RIAZ SAEED ROFFI WAKI |
| Name of CFO | KHURSHEED AHMAD WARSI |
| Name of audit committee chairman | AHSAN ZAHEER |
| Name of statutory auditor | A R S A N & CO. |
| Name of other signatory, if any, with designation | NA |
| Place | KANPUR |
| Date | 14-02-2026 |
Amount in (Lakhs)
| Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter) | ||||||||||||||||||||||||
| Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken. | ||||||||||||||||||||||||
| Sr. No. | Details of the party (listed entity /subsidiary) entering into the transaction | Details of the counterparty | Type of related party transaction | Details of other related party transaction | Value of the related party transaction as approved by the audit committee | Remarks on approval by audit committee | Value of the related party transaction ratified by the audit committee | Date of Audit Committee Meeting where the ratification was approved | Value of transaction during the reporting period | In case monies are due to either party as a result of the transaction | In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments | Details of the loans, inter-corporate deposits, advances or investments | ||||||||||||
| Name | Name | Relationship of the counterparty with the listed entity or its subsidiary | Opening balance | Closing balance | Nature of indebtedness (loan/ issuance of debt/ any other etc.) | Details of other indebtedness | Cost | Tenure | Nature (loan/ advance/ intercorporate deposit/ investment) | Interest Rate (%) | Tenure | Secured/ unsecured | Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage) | Notes | ||||||||||
| No records available | ||||||||||||||||||||||||
Amount in (Lakhs)
| Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1) | |||||||
| Mode of Fund Raising | Preferential Issues | ||||||
| Description of mode of fund raising (Applicable in case of others is selected) | |||||||
| Date of Raising Funds | 28-11-2025 | ||||||
| Amount Raised | 26.00 | ||||||
| Report filed for Quarter ended | 31-12-2025 | ||||||
| Monitoring Agency | false | ||||||
| Monitoring Agency Name, if applicable | |||||||
| Is there a Deviation / Variation in use of funds raised | false | ||||||
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |||||||
| If Yes, Date of shareholder Approval | |||||||
| Explanation for the Deviation / Variation | |||||||
| Comments of the Audit Committee after review | |||||||
| Comments of the auditors, if any | |||||||
| Objects for which funds have been raised and where there has been a deviation, in the following table: | |||||||
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| No records available | |||||||
| Signatory Details | |||
| Name of signatory | RIAZ SAEED ROOFI WAKI | ||
| Designation of person | Managing Director | ||
| Place | KANPUR | ||
| Date | 14-02-2026 | ||