Pursuant to Regulation 30 and 33, read with schedule III of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Board of Directors of the company in their meeting held on ....
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Aanchal Ispat Ltd, a recently revived steel company (out of CIRP via NCLT order dated 27 March 2025), reported Q2 FY26 revenue from operations of Rs. 1,830.36 lakhs, sharply lower than Rs. 3,874.01 lakhs in Q2 FY25 (~53% YoY decline). H1 FY26 revenue stood at Rs. 4,097.46 lakhs vs Rs. 8,272.89 lakhs in H1 FY25. The company swung to a small profit of Rs. 21.14 lakhs in Q2 and Rs. 25.89 lakhs in H1 FY26, compared to losses in prior periods, aided by the fresh Board and Resolution Plan implementation. However, operating cash flow was negative at Rs. (260.86) lakhs for H1 FY26. The auditor's review report carries multiple Emphasis of Matter paragraphs covering going concern assumption, delayed first installment payment under the Resolution Plan (sub-judice before NCLT, next hearing on 2 January 2026), related-party transactions with sister concern Maina International Ltd (~15% of purchases, ~13% of sales), and suspended trading of shares pending BSE relisting approval.
Shareholders should note the steep revenue contraction despite the post-CIRP restart, the small profit driven mainly by cost cuts rather than volume growth, and the negative operating cash flow which signals working-capital pressure. Shares remain suspended from trading on BSE pending relisting approval, so liquidity is currently limited; the next NCLT hearing (2 Jan 2026) on the delayed Resolution Plan installment is a key event to watch.