Outcome of the Board Meeting
Price
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The board approved unaudited results for Q2 and H1 FY26 (ended Sept 30, 2025) with a clean limited review from the statutory auditor. Revenue from operations surged to ₹145.31 lakhs in Q2 FY26 from ₹54.47 lakhs a year ago, taking H1 FY26 revenue to ₹247.49 lakhs versus just ₹65.58 lakhs in H1 FY25 — a nearly 4x jump driven by the EV charger business. However, the company remained in the red with a H1 FY26 loss after tax of ₹66.01 lakhs (vs ₹61.99 lakh loss a year ago), though Q2 alone turned positive at ₹21.07 lakhs. Operating cash flow was deeply negative at ₹845.25 lakhs, largely due to a sharp inventory build-up, which the company funded through short-term borrowings that nearly doubled to ₹2,206.81 lakhs. Separately, the board appointed two new Independent Directors (Mr. Harnish Rao and Mr. Sahil Rao) for 5-year terms and forfeited 2,89,087 partly paid-up rights shares for non-payment of call money.
Strong revenue growth in the EV charger business is encouraging, but persistent losses and a steep cash burn funded by rising short-term debt are key risks shareholders should watch closely. Shareholders' approval will be sought via postal ballot for the new director appointments.