Debock Industries Limited (formerly Debock Sales and Marketing Limited) is a Rajasthan-based diversified enterprise. While historically active in **Agricultural Equipment**, **Hospitality**, and **Mining**, the company has recently undergone a forced strategic consolidation. As of **December 2025**, regulatory filings indicate **Real Estate** as the sole reportable business segment, following a period of extreme regulatory intervention and financial restructuring. --- ### Core Business Segments & Asset Portfolio | Segment | Key Activities & Infrastructure | | :--- | :--- | | **Real Estate** | Current primary focus (as of **Q3 FY26**); involves development and business operations in the real estate sector. | | **Hospitality** | Operates **Hotel Debock Inn**, a "class hotel" in **Deoli, Tonk District (NH-12)**. Positioned as an environmentally sensitive business hotel. | | **Agricultural Equipment** | Manufacturing of **Tractor Trolleys, Threshers, Ploughs, Tillers, Tankers, Combine Machines, and Seed Drills**. | | **Mining & Quarrying** | Extraction of **Granite, Marble, and other stones** from company-owned land near **Kekri, Ajmer District**. | | **Steel Tubes** | Manufacturing of **ERW Steel Tubes** (reported as a segment in **September 2025**). | **Infrastructure:** * **Manufacturing Plant:** Integrated facility at **Panwad Mod, NH-12, Deoli, Tonk, Rajasthan**. * **Project Sites:** Utilization of temporary factory sheds at specific project locations. * **Registered Office:** Located in **Jaipur, Rajasthan**. --- ### Hospitality Operations: Hotel Debock Inn The company’s hospitality division operates under an MOU with the **Rajasthan Government**. The flagship property, **Hotel Debock Inn**, integrates traditional **Indian heritage** with modern infrastructure. * **Service Offerings:** 24-hour concierge, room service, and doctor-on-call. * **Target Market:** Corporate and leisure travelers seeking luxury amenities with an environmental focus. * **Expansion Strategy:** The company pivoted toward the premium destination wedding segment in **Chakshu, Rajasthan**. This **50-acre** project includes **125 luxury villas**, a **200-room hotel**, three marriage gardens, and a manmade lake. Bookings for gardens commenced in **November 2024**, targeting a **20% revenue margin**. --- ### Strategic Diversification & Corporate Restructuring In **February 2024**, the company amended its Memorandum of Association (MOA) to enter high-growth industrial verticals: * **Logistics:** Plans for fleet carriers, tankers, mobile cranes, and **Container Freight Station (CFS)** services. * **Agricultural Inputs:** Manufacturing and trading of **water-soluble fertilizers** and organic manures. * **Amalgamation (Aborted):** A plan to merge **Debock Ventures Limited** (Share exchange ratio: **270:1**) was approved in **June 2024** but was subsequently **withdrawn in October 2024** following **SEBI** directives. --- ### Capital Structure & Financial Performance The company migrated from the **NSE SME platform** to the **NSE Main Board** on **March 31, 2022**. Since then, it has aggressively expanded its capital base. **Key Financial Metrics (Historical):** | Metric (₹ in Lacs) | FY 2023-24 | FY 2022-23 | FY 2021-22 | | :--- | :---: | :---: | :---: | | **Total Revenue** | **9,837.95** | **14,640.09** | **9,736.68** | | **Net Profit** | **806.96** | **1,286.59** | **672.61** | | **Total Equity** | **21,474.00** | **8,256.77** | **6,969.02** | | **Gearing Ratio** | **0.1** | **0.3** | **0.27** | **Capital Raising Activities:** * **Authorized Capital:** Increased to **₹200 Crore** (20 crore shares). * **Rights Issue:** Allotted **3,27,24,687 shares** at **₹15** in July 2023, raising **₹49.09 Crore**. * **Preferential Issue:** Approved **5,35,71,428 convertible warrants** at **₹14** per warrant. * **Debt Management:** Executed a **One-Time Settlement (OTS)** with **Punjab National Bank** for **₹1.90 Crore** in FY24, though auditors note a separate default of **₹451.69 Lakh** remains outstanding for over **24 months**. --- ### Critical Risk Factors & Regulatory Enforcement The company is currently embroiled in severe legal and regulatory crises that threaten its "going concern" status. **1. SEBI Enforcement & Fraud Detection:** * **Interim Order (August 2023):** SEBI impounded **₹89.24 Crore** in unlawful gains. Promoters are currently restrained from the securities market. * **Bogus Transactions:** Investigations revealed that **70-80% of sales** in FY22 and FY23 were bogus, involving round-tripping through a bank account closed since **2020**. * **Fraudulent Accounting:** In **May 2025**, the company admitted to fraudulent entries regarding capital contributions. Actual funds received for equity warrants were significantly lower than recorded. **2. Auditor Disclaimer & Financial Irregularities:** Statutory auditors have issued a **Disclaimer of Opinion** due to: * **Fabricated Records:** Use of forged bank statements from **Axis Bank** and **Equitas Small Finance Bank**. * **Siphoning of Funds:** **₹49.50 Crore** from the 2023 Rights Issue was diverted to related parties like **Impex Agrotech Limited**. * **Unverifiable Assets:** Lack of ownership documents for **₹9.29 Crore** in fixed assets and **₹48.45 Crore** in capital advances. Notably, **₹11.85 Crore** was paid to **Debock Builders Pvt Ltd**, a company already "struck off" by the ROC. **3. Statutory & Tax Liabilities:** | Liability Type | Status / Amount | | :--- | :--- | | **Income Tax Demand** | **₹64.95 Crore** (per IT portal). | | **Outstanding Provisions** | **₹11.43 Crore** tax plus **₹2.33 Crore** unpaid interest. | | **TDS/TCS Defaults** | Continuous failure to remit since **March 2022**. | | **Criminal Charges** | **FIR (No. 0036)** filed in **January 2024** for cheating and forgery. | **4. Operational Risks:** * **Internal Controls:** Failure to implement accounting software with an **audit trail (edit log)**. * **Management Instability:** High attrition and the involvement of key finance personnel in criminal proceedings. * **Concentration Risk:** High dependence on related party transactions (**75% of sales**).