Approved and taken on record the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2025 along with the Limited Review Report of Statutory ....
Awaiting price reaction for this filing.
The board has approved the unaudited standalone financial results for the quarter and half year ended 30 September 2025. Revenue from operations fell to Rs 53.49 crore in Q2 FY26 from Rs 85.06 crore in Q2 FY25 (around 37% YoY drop), and stood at Rs 130.85 crore for H1 FY26 against Rs 424.49 crore in H1 FY25. Total income for Q2 was Rs 61.18 crore with a pre-exceptional-item profit before tax of Rs 13.17 crore, while exceptional items of Rs 4.33 crore (Q2) and Rs 12.54 crore (H1) were recorded. Profit after tax for H1 was Rs 31.09 crore versus Rs 27.11 crore in the year-ago half. The statutory auditor issued a qualified review report flagging untransferred IEPF dues of Rs 47.65 lakh, weak fixed-asset and scrap inventory records from the prior management, non-compliance with Ind AS 109 on preference shares, and inadequate documentation for credit-card travel expenses. Crucially, the NCLT Allahabad bench approved the delisting of the company's shares from NSE and BSE on 16 October 2025; the board had already cleared this on 5 November 2025 and the promoter currently holds 100% of shares.
This is a major negative for any remaining public shareholders: the company is moving ahead with full delisting from both stock exchanges, so shares will lose their listed market. Investors should also weigh the auditor's qualifications, which point to weak legacy records and accounting gaps, although the fresh management argues these stem from assets inherited at the time of the CIRP takeover.