💰 Financial Performance

Revenue Growth by Segment

Revenue for the half-year ended September 30, 2025, was INR 0.00 Lakhs, representing a 100% decline in operational activity. The stationery and paper pulp segments are currently non-functional due to the expiry of the Oxford license and business discontinuance.

Geographic Revenue Split

Not disclosed in available documents, though historical operations included exports and imports which have currently ceased to 0% of total turnover.

Profitability Margins

Net Profit Margin is not applicable due to zero revenue. The company reported a Net Loss of INR 3.40 Lakhs for H1 FY26, compared to a loss of INR 3.22 Lakhs in H1 FY25, a 5.59% increase in loss despite zero operations.

EBITDA Margin

EBITDA is negative due to zero revenue and ongoing fixed costs of INR 3.40 Lakhs. Core profitability has vanished following the permanent discontinuance of the Oxford business line.

Capital Expenditure

Historical CapEx is minimal; for the period ended September 30, 2025, no new capital expenditure was reported as the company is in a state of operational halt.

Credit Rating & Borrowing

The company has defaulted on the repayment of borrowings and statutory dues. Total borrowings stand at INR 2,256.64 Lakhs (INR 1,075.93 Lakhs long-term and INR 1,180.71 Lakhs short-term).

⚙️ Operational Drivers

Raw Materials

Stationery items and paper pulp (raw material for paper) represent 100% of the historical product cost base.

Import Sources

Not disclosed for the current period; however, the company historically engaged in imports which have dropped to INR 0 for FY2025.

Key Suppliers

Oxford Limited was a primary licensor and partner; however, the license agreement expired due to Oxford's permanent discontinuance of business.

Capacity Expansion

Current capacity is 0% utilized as operations have ceased. No expansion plans are documented given the 'Going Concern' uncertainty.

Raw Material Costs

Raw material costs were INR 0 for H1 FY26 due to zero procurement. Procurement strategies are currently stalled by a lack of working capital.

Manufacturing Efficiency

Capacity utilization is 0% as the company is primarily a trading and retail entity that has stopped active trading.

Logistics & Distribution

Distribution costs have fallen to 0% of revenue as no sales were recorded in the half-year ended September 30, 2025.

📈 Strategic Growth

Expected Growth Rate

0%

Growth Strategy

The company currently has no viable growth strategy as it is facing material uncertainty regarding its ability to continue as a going concern. Future growth is contingent on securing new licenses or business lines to replace the defunct Oxford stationery business.

Products & Services

Stationery products (formerly under Oxford brand) and paper pulp.

Brand Portfolio

Oxford (License expired).

New Products/Services

No new product launches are planned; the company is focused on survival and addressing audit qualifications.

Market Expansion

No expansion plans; the company is currently in a state of operational contraction.

Market Share & Ranking

Negligible/0% following the cessation of operations.

Strategic Alliances

The primary alliance with Oxford Limited has terminated due to the partner's business closure.

🌍 External Factors

Industry Trends

The stationery industry is shifting toward digital alternatives, and the company's failure to adapt or maintain its brand license has led to a total loss of market positioning.

Competitive Landscape

The company has lost its position to competitors in the stationery and paper trading market due to its inability to maintain operations.

Competitive Moat

The company currently possesses no moat. Its primary competitive advantage was the Oxford brand license, which has been lost.

Macro Economic Sensitivity

Highly sensitive to pandemic-related disruptions; COVID-19 led to the permanent closure of their primary licensor, Oxford Limited.

Consumer Behavior

Shift away from traditional stationery during the pandemic contributed to the decline of the company's primary business partner.

Geopolitical Risks

Minimal direct impact currently as operations are domestic and stalled, though historical export/import potential is affected by global supply chain stability.

⚖️ Regulatory & Governance

Industry Regulations

Subject to the Companies Act 2013 and SEBI LODR regulations. The company is currently non-compliant with several statutory and regulatory payment obligations.

Environmental Compliance

Not applicable as the company is primarily a trading and retail entity.

Taxation Policy Impact

The company reported zero tax expense for H1 FY26 due to losses.

Legal Contingencies

The company has defaulted on the repayment of borrowings and statutory dues. While specific case values are not listed, the total liability of INR 2,371.54 Lakhs (Current Liabilities) exceeds total assets of INR 582.98 Lakhs.

⚠️ Risk Analysis

Key Uncertainties

Material uncertainty exists regarding the 'Going Concern' status. Current liabilities exceed current assets by INR 1,788.56 Lakhs, and the company has no active revenue stream.

Geographic Concentration Risk

100% concentrated in India for current (minimal) administrative operations.

Third Party Dependencies

Formerly 100% dependent on Oxford Limited; the failure of this third party led to the company's current operational collapse.

Technology Obsolescence Risk

High risk as the company lacks a digital presence or modern product line to replace its traditional stationery business.

Credit & Counterparty Risk

Receivables have been significantly reduced or written off; the company itself is now a high credit risk to its lenders.