Carnation Industries Limited — Quarter and year ended March 31, 2026
| Particulars | Amount (Rs. In Lakhs) As at 31.03.2026 (Audited) | Amount (Rs. In Lakhs) As at 31.03.2025 (Audited) |
|---|---|---|
| ASSETS : | ||
| (1) Non-Current Assets | ||
| Property, Plant and Equipment | 0.34 | – |
| Intangible Assets | – | – |
| Financial Assets | ||
| (a) Loans | 1,083.94 | – |
| Deferred Tax Assets (Net) | 0.01 | – |
| Other Non-Current Assets | 332.50 | – |
| (2) Current Assets | ||
| Inventories | – | – |
| Financial Assets | ||
| (a) Trade Receivables | 189.20 | – |
| (b) Cash and Cash Equivalents | 16.35 | 90.42 |
| (c) Bank Balance Other than Cash and Cash Equivalents | 1.42 | 1.42 |
| (d) Other Financial Assets | – | – |
| Current Tax Assets (net) | – | – |
| Other Current assets | 52.79 | 51.53 |
| (3) Assets classified as held for sale | – | 87.35 |
| Total Assets | 1,676.54 | 230.72 |
| EQUITY AND LIABILITY | ||
| (1) EQUITY | ||
| Share Capital | 345.72 | 345.72 |
| Other Equity | (195.81) | (182.63) |
| LIABILITY | ||
| (2) Non-Current Liabilities | ||
| Financial Liabilities | ||
| – Borrowings | 1,362.07 | – |
| Deferred Tax Liabilities (Net) | – | 21.86 |
| (3) Current Liabilities | ||
| Financial Liabilities | ||
| – Borrowings | – | 10.61 |
| – Trade Payables | ||
| (A) total outstanding dues of micro enterprises and small enterprises | – | – |
| (B) total outstanding dues of creditors other than micro enterprises and small enterprises | 45.06 | 21.60 |
| – Other Financial Liabilities | 33.16 | 1.42 |
| Other Current Liabilities | 30.64 | 12.14 |
| Current Tax Liabilities (Net) | 55.72 | – |
| Total Equity and Liabilities | 1,676.54 | 230.72 |
| PARTICULARS | For the year ended 31.03.2026 | For the year ended 31.03.2025 |
|---|---|---|
| (A) CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(loss) before exceptional items and tax | 26.50 | 149.21 |
| Adjustments for: | ||
| – Depreciation, Impairment and Amortisation Expenses | 0.13 | 1.08 |
| – (Profit)/Loss on sale/discard of Property Plant and Equipment(net) | (24.16) | – |
| – Borrowings written back in terms of resolution plan | – | (49.60) |
| – Finance Cost | 67.56 | – |
| Operating Profit Before Working Capital Changes | 70.03 | 100.70 |
| Adjustments for: | ||
| – (Decrease)/ Increase in Trade Receivables | (189.20) | (76.72) |
| – (Decrease)/ Increase in Trade Payables | 23.47 | (18.32) |
| – (Decrease)/ Increase in Non Current Provisions | – | (95.43) |
| – (Decrease)/ Increase in Other current Liabilities | 30.00 | – |
| – (Decrease)/ Increase in Other Financial Liabilities | – | 14.87 |
| – Decrease/ Increase in Financial Assets – Loans | – | – |
| – Decrease/ (Increase) in Other Current Assets | (1.25) | (26.12) |
| Cash Generated from Operations : | (66.96) | (101.03) |
| Income Tax Paid including Tax deducted at source | 5.84 | – |
| Net Cash generated from Operating Activities | (72.80) | (101.03) |
| (B) CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of Property, Plant and Equipments, Intangible and Capital Work in Progress | (0.47) | – |
| Sale of Investment (net) | – | – |
| Advances For Purchase of Assets | (332.50) | – |
| Loan Granted | (1,083.94) | – |
| Sale of Property, Plant and Equipments, Intangible and Capital Work in Progress | – | – |
| Receipt of advance/Proceeds for sale of assets | 100.00 | 11.51 |
| Bank Balance other than cash & Cash equivalents (including accrued interest) | – | – |
| Net Cash generated/ (used) in Investing Activities | (1,316.91) | 11.51 |
| (C) CASH FLOW FROM FINANCING ACTIVITIES | ||
| Repayment of Bank Borrowings (Net) | – | (142.00) |
| Repayment of Borrowings from Successful Resolution Applicant(net) | (10.61) | – |
| Receipt of Borrowings | 1,362.07 | 10.61 |
| – (Decrease)/ Increase in Other Financial Liabilities | – | – |
| Finance cost paid | (35.82) | – |
| Advance from Resolution Professional | – | – |
| Funds Infused in terms of Resolution Plan and Issue of Shares | – | 311.08 |
| Net Cash generated/(used) in Financing Activities | 1,315.63 | 179.69 |
| Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C) | (74.07) | 90.17 |
| Opening Cash and Cash Equivalents | 90.42 | 0.25 |
| Closing Cash and Cash Equivalents | 16.35 | 90.42 |
| Sr. No. | Particulars | Quarter Ended 31-Mar-26 (Audited) | Quarter Ended 31-Dec-25 (Unaudited) | Quarter Ended 31-Mar-25 (Audited) | Year Ended 31-Mar-26 (Audited) | Year Ended 31-Mar-25 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Revenue from Operations | 170.00 | – | – | 170.00 | – |
| 2 | Other Income | 2.56 | 24.16 | – | 26.72 | 233.84 |
| 3 | Total Income (1+2) | 172.56 | 24.16 | – | 196.72 | 233.84 |
| 4 | EXPENSES: | |||||
| Cost of Materials Consumed and other manufacturing expenses | – | – | – | – | – | |
| Cost of Trading Goods | – | – | – | – | – | |
| Changes in inventories of Finished Goods | – | – | – | – | – | |
| Employee benefit expense | 6.30 | 7.52 | 5.82 | 26.87 | 10.01 | |
| Finance costs | 32.49 | 30.55 | – | 67.56 | – | |
| Depreciation and amortization expense | 0.07 | 0.05 | – | 0.13 | 1.08 | |
| Other expenses | 44.44 | 13.72 | 43.65 | 75.66 | 73.54 | |
| Total Expenses | 83.30 | 51.85 | 49.47 | 170.22 | 84.62 | |
| 5 | Profit Before Exceptional Items and Tax (3-4) | 89.26 | (27.69) | (49.47) | 26.50 | 149.21 |
| 6 | Exceptional Items | – | – | – | – | – |
| 7 | Profit/(Loss) Before Tax (5-6) | 89.26 | (27.69) | (49.47) | 26.50 | 149.21 |
| 8 | Tax Expense/(Benefits): | |||||
| i. Current Tax | 13.69 | 47.87 | – | 61.56 | – | |
| ii. Deferred Tax | (0.02) | (21.86) | – | (21.88) | 6.77 | |
| 8 | Total Tax Expense | 13.67 | 26.01 | – | 39.68 | 6.77 |
| 9 | Net Profit/(Loss) from continuing operations (7-8) | 75.59 | (53.70) | (49.47) | (13.18) | 142.44 |
| 10 | Profit/(loss) from discontinued operations | – | – | – | – | – |
| 11 | Tax expenses of discontinued operations | – | – | – | – | – |
| 12 | Profit/(loss) from Discontinued operations (after tax) (10-11) | – | – | – | – | – |
| 13 | Profit/(loss) for the period (9+12) | 75.59 | (53.70) | (49.47) | (13.18) | 142.44 |
| Other Comprehensive Income : | ||||||
| A.) (i) Items that will not be reclassified to Profit and Loss | – | – | – | – | – | |
| (ii) income tax relating to items that will not be reclassified to profit or loss | – | – | – | – | – | |
| B) (i) items that will be reclassified to profit and loss account | – | – | – | – | – | |
| (ii) income tax relating to items that will be reclassified to profit or loss | – | – | – | – | – | |
| 14 | Total Other Comprehensive Income | – | – | – | – | – |
| 15 | Total comprehensive income (Comprising Profit (Loss) and Other Comprehensive Income for the period) (13+14) | 75.59 | (53.70) | (49.47) | (13.18) | 142.44 |
| 16 | Weighted Average Paid up Equity Share Capital (Face Value Rs.10 each) | 345.72 | 345.72 | 345.72 | 345.72 | 345.72 |
| 17 | Earning per Equity Share: | |||||
| Basic | 2.19 | (1.55) | (1.43) | (0.38) | 4.12 | |
| Diluted | 2.19 | (1.55) | (1.43) | (0.38) | 4.12 | |
| Par value of each Equity Share: Re.10/- | ||||||
| (EPS for three months ended periods are not annualised) |
| S.R No. | Notes |
|---|---|
| 1 | The financial results of the company have been prepared in accordance with Ind AS prescribed under Section 133 of the Companies Act 2013 (the Act) read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. |
| 2 | The financial results of the company for the quarter and year ended March 31, 2026 have been reviewed by the Audit Committee on 05-05-2026 and subsequently approved at the meeting of the Board of Directors held on 05-05-2026. |
| 3 | During the financial year ended March 31, 2026, the Company recognized income of INR 24,15,868 from the disposal of assets classified as held for sale, reflecting ongoing asset optimization; further, in FY 2024-25, pursuant to the approval of the resolution plan by the Hon’ble NCLT, Kolkata Bench under the Insolvency and Bankruptcy Code, 2016, the Company successfully progressed through the CIRP process, and in line with the approved plan, liabilities amounting to INR 2,33,84,275, not admitted under the resolution framework, were written back and recognized as income, thereby strengthening the financial position, while, as a prudent measure, non-recoverable balances of INR 35,16,117 were written off and charged to the Statement of Profit and Loss in the previous year, collectively reflecting a positive transition towards financial restructuring and improved balance sheet strength. |
| No. | Text |
|---|---|
| 4 | During the year, the Company entered into certain speculative transactions which were not directly connected with its principal business activities. The net financial impact of such transactions for the year is ₹ 2,55,971, which is not material to the financial statements. The Board has reviewed the matter and has represented that the transactions were isolated in nature and no further exposure remains outstanding as at the balance sheet date. The Company is in the process of evaluating appropriate corrective measures, including strengthening of internal controls and, where considered necessary, appropriate corporate approvals. |
| 5 | During the year, the Members of the Company, through Postal Ballot under Section 110 of the Companies Act, 2013, approved the amendment to the Capital Clause of the Memorandum of Association by way of a Special Resolution dated November 16, 2025, resulting in an increase in the Authorised Share Capital from ₹700 Lakhs to ₹3500 Lakhs; however, the filing of Form SH-7 with the Registrar of Companies, as required under Section 64 of the Act, is currently in process and, consequently, the increased authorised share capital is yet to be reflected in the MCA records as at the date of approval of these financial statements. The Company is in the process of completing the said filing along with applicable additional fees, stamp duty and other statutory charges, and has made appropriate provisions in the books based on management’s best estimate; the management is of the view that the delay is procedural in nature and does not have any material impact on the financial statements, apart from the provision so recognised. |
| 6 | During the year, the Members of the Company, through Postal Ballot under Section 110 of the Companies Act, 2013, approved by way of Special Resolution dated November 16, 2025, the proposal to change the name of the Company from “Carnation Industries Limited” to “Ebravea Beverages Limited”, along with consequential amendments to the Memorandum and Articles of Association; however, the requisite statutory filings and approval process under Section 13 of the Act are currently in progress and, as at the date of approval of these financial statements, the fresh certificate of incorporation has not yet been issued by the Registrar of Companies, and accordingly, the Company continues to be reflected as “Carnation Industries Limited” in MCA records and in these financial statements. The Company is in the process of shifting its registered office from West Bengal to Delhi, for which approval of the Members has been obtained through a Postal Ballot resolution dated November 16, 2025; the necessary statutory filings have been initiated and the matter is currently pending with the relevant regulatory authorities for requisite approvals. |
| 7 | Figures for the previous period are re-classified/ re-arranged/ re-grouped, wherever necessary, to correspond with the quarter and year ended on Mar 31 2026. |
| 8 | The Company has changed its method of depreciation from the Straight Line Method (SLM) to the Written Down Value (WDV) method with effect from April 1, 2025, being the beginning of the financial year 2025–26. |
| 9 | The Board has not recommended any interim dividend during the quarter and year ended Mar 31, 2026 and previous financial year 2025-26. |
| 10 | In accordance with the applicable regulatory requirements, unclaimed dividend account has a balance of Rs. 1.42 Lakhs which the company is required to transfer to Investor Education and Protection Fund (IEPF), the same is under process. |
| 11 | During the year ended on 31 March 2026 the Company has entered into a Share Purchase Agreement (“SPA”) to acquire 100% equity shares in Oniv Beverages Private Limited with its existing shareholders for a total consideration not exceeding INR 5.00 Crores to be paid by issuance/allotment of equity shares of the Company in exchange for the equity shares of Oniv Beverages Private Limited within the coming fiscal year 2026-27, after obtaining all necessary approvals for the transaction. During the period Rs. 1083.94 lacs was paid towards working capital of the Company as part of the SPA. Through this acquisition, the Company is strategically expanding its business portfolio in a manner that can be seamlessly and economically integrated with its existing operations. |
| 12 | During the year ended March 31, 2026, the Company entered into a business purchase agreement with Integra Essentia Limited and paid an advance of INR 332.50 lacs against the Total capital commitment of Rs 3325 Lakhs. |
| 13 |