| 1. The above results have been reviewed and approved by Resolution Professional at their meeting held on 13th August 2026. The Statutory Auditors of the Company have carried out a Limited Review of the above results. 2. All the lenders except Tamilnad Mercantile Bank Ltd had assigned the debts along with all the rights and interests on the secured assets to CFM Asset Reconstruction Private Limited CFM , who in turn sold it to Madelin Enterprises Private Limited MEPL under the SARFAESI Act 2002 and manufacturing operations from all locations have been discontinued. In addition, the Company has received demand notice from Tamilnad Mercantile Bank Ltd, TMBL under Section 13 2 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Sarfaesi Act and the Rules framed thereunder for recovery of their dues vide letter dated 23rd November, 2021. amounting to Rs. 32.94 Crores plus future interest as applicable thereon in terms of loan agreement. TMBL has denied to release the pro rata charge on assets of the company. Therefore TMBL approached DRT Mumbai for recovery of their dues from the Company and CFM. DRT Mumbai has passed interim order and CFM challenged the maintainability of TMBL application in DRAT where their contention was upheld, thereafter TMBL has appealed against DRAT order in Gujarat High Court and matter is subjudice. DRT Mumbai has now ordered TMBL to file written submission and TMBL has assured Committee of Creditors of filing a Memo in DRT that the company is under going CIRP. TMBL has also filed an IA with NCLT, which is dismissed. In light of the above facts, there could be a significant and material impact on the going concern status of the Company and its future operations. The Companys ability to sustain itself and generate revenues to meets its financial commitment, has been critically dented. The same has been referred by the auditors in their report on results and was also referred by the auditors in their reports on the financial statements and results for the earlier years quarters. 3. Exceptional items for the quarter ended 30th June 2026 and for year ended 31st March 2026 represents loss on account of Provision for doubtful debts and repossession of secured assets by the Lender. 4. As the Company was admitted by the Honble NCLT vide its order dated 25th January 2024, therefore, the Company has provided interest at the rate Nil percent p.a. wef. 1st April 2023 on term loan, Cash Credit limits and Cumulative Redeemable Preference Shares CRPS on its borrowings aggregating to Rs. 2,47,379 lakhs Term Loan Rs. 64,121 lakhs and Cash Credit Rs. 1,71,862 lakhs and CRPS Rs. 11,396 lakhs as against the documented rate as required as per IND AS 23 Borrowing Costs read with IND AS 109 on Financial Instruments since Company unable to service interest liability. Aggregate amount of interest not provided for as at 30th June 2026 is Rs.2,13,731 lakhs. Accordingly, finance costs for the quarter ended 30th June, 2026, for the quarter ended 31st Mar, 2026, for the quarter ended 30th June,2025 and for the year ended 31st March 2025 is lower by Rs. 12,299 lakh, Rs.11,756 lakh, Rs. 10,709 lakh and Rs. 39,462 lakh respectively. The same has been qualified by the Auditors in their report on the results and was also qualified by the Auditors in their reports on the Financial Statements and results for the earlier year quarters.... 5. The Company had issued a corporate guarantee of USD 463.96 Million equivalent of Rs. 3,77,587 lakhs to the lenders of JBF Petrochemicals Limited JPL a step down subsidiary. However, following the sale of secured assets including its investments in subsidiaries and step down subsidiary. One of the lenders of JPL vide its letter dated 24th April, 2018 invoked corporate guarantee to the extent of USD 252.00 Million equivalent of Rs.1,99,155 lakhs as JPL has defaulted in servicing its borrowings towards principal and interest thereon. Company has denied above invocation and is of the view that above corporate guarantee was valid only up to one year from the Commercial operation date i.e. 31st March, 2017 and all obligations of the Company towards above lenders stand rescinded, have fallen away and ceased to exist as on 1st April, 2018. In view of the above, invocation of corporate guarantee on 24th April, 2018 is not legally tenable and hence no provision is required towards the guarantee so invoked. Company has discontinued recognition of guarantee commission wef. 1st April, 2018. Further IDBI bank has filed IA with NCLT Ahmedabad against rejection of their claim in CIRP process, which stands allowed and in compliance of orders of Honourable NCLT, RP has admitted the claim of IDBI. IDBI is now a member of COC. RP and CFM have filed appeal in NCLAT against the NCLT order. On instructions of COC, appeal filed by RP stands withdrawn. CFM too has withdrawn the appeal. The same has been referred by the Auditors in their report on the results and was also referred by the Auditors in their reports on the Financial Statements and results for the earlier years quarters.. 6. Due to the repossession of secured assets including all investments made by the Company in its subsidiaries and step down subsidiary on 6th June, 2022, the exposures has been reduced to NIL 7. Due to financial restructuring negotiation with lenders and or investors, Company did not receive the audited financial statements of its subsidiaries, hence the Company could not prepare the consolidated financial statements of the Company and accordingly no consolidated financial results have been published. The same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. As on 31st March 2023, Ms. Madelin Enterprises Pvt.Ltd., has acquired the holding of our Company in the Subsidiary Company JBF Global Pte Limited situated at Singapore under the Sarfaesi Act but pending transfer in the name of Madelin Enterprises Pvt. Ltd., the shares are still in name of the company as on date. 8 There is no Chief Executive Officer CEO, Chief Financial Officer CFO of the Company and Company Secretary CS and Compliance Officer of the Company. The same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. 9. One of the operational creditors of JBF RAK LLC, situated at UAE JBF RAK, had made an application with National Company Law Tribunal NCLT under Insolvency and Bankruptcy Code, 2016 against the Company, for supply of raw materials to JBF RAK and claimed for a debt of Rs. 12,848 lakh USD 9,899,091.53 as per notice dated 17th February, 2020. This application stand dismissed as infructuous hence no provision is required for above claim, as another application was admitted. Further, the operational creditor of JBF RAK LLC has filed its claim with RP, which also has been admitted by him based on NCLT order, the same has been referred by the auditors in their report on results and was also referred by the auditors in their report on the financial statements and results for the earlier years quarters. 10 In the opinion of the management, the Company was engaged only in the business of producing polyester based products. As such, there are no separate reportable segments. 11. An application was filed before the National Company Law Tribunal NCLT, Ahmedabad, by one of the Operational Creditor against the Company under section 9 of Insolvency and Bankruptcy Code, 2016. The matter was admitted by the Honble NCLT vide its order dated 25th January 2024. The Resolution plan approved by Committee of Creditors COC was returned by Honble NCLT with certain observation. COC has decided to re run the process. There are 40 Entities in the final list of Eligible Prospective Resolution applicant, Information Memorandum and Request for Resolution Plan RFRP documents has been shared. 12. The figures for the corresponding previous period year have been regrouped re arranged wherever necessary, to make them comparable. |