Announcement for appointment of Independent Director
Awaiting price reaction for this filing.
At a board meeting on November 14, 2025, Fraser and Company approved its unaudited standalone financial results for the quarter and half year ended September 30, 2025. The company also appointed Ms. Rekha Naraniwal Rani (DIN: 08467886) as an Additional Non-Executive Independent Director, effective the same day. The company reported another loss-making quarter with no sales turnover, total income of just Rs. 0.04 Million in Q2 FY26 versus Rs. 3.00 Million in Q2 FY25, and a net loss of Rs. 1.00 Million (improving from Rs. 7.98 Million loss a year ago). The statutory auditor issued a qualified review report flagging material uncertainty about the company's ability to continue as a going concern, citing accumulated losses, no orders in hand, and old unreconciled receivables and payables. On the positive side, the company settled an NCLT matter worth Rs. 82.63 Million, recovering Rs. 40 Million in cash plus four 2BHK flats in Bhandup worth Rs. 40 Million.
Shares remain in a distressed situation with no revenue, ongoing losses, and auditor concerns about going-concern viability, though the recent debt recovery improves liquidity. The stock may stay volatile; shareholders should weigh the auditor's qualified opinion and the suspension from the Calcutta Stock Exchange against the management's plan to revive business by changing the company's main object.