Announcement of Unaudited financial results under IND AS for the 3rd quarter Ended 31st December 2025 as per Regulation 33 of the SEBI (LODR) Regulations 2013
Awaiting price reaction for this filing.
Turner Industries Limited (Chennai-based, single segment: Property Development) reported zero revenue from operations for Q3 FY26 and the nine-month period ended 31 December 2025, same as the year-ago period. The company posted a net loss of Rs. 0.31 lakh for the quarter (vs Rs. 0.30 lakh loss in Q3 FY25) and Rs. 1.25 lakh loss for the nine months (vs Rs. 1.28 lakh prior year) — losses arise entirely from small recurring administrative expenses with no income to offset them. Reserves remain deeply negative at Rs. (386.28) lakhs, leaving total equity at just Rs. 11.44 lakhs against equity share capital of Rs. 401.31 lakhs. All borrowings of Rs. 38.94 lakhs are loans from the Director (related party), and cash on hand is a mere Rs. 0.69 lakh. The statutory auditor issued a clean (unqualified) limited review report with no going-concern qualification or emphasis-of-matter paragraph.
With no revenue, deeply eroded reserves, and razor-thin equity, the business is not self-sustaining and continues to depend entirely on director loans — a serious red flag for shareholders. The stock carries significant going-concern risk and is likely only suitable as a highly speculative, illiquid holding.