Outcome of the Board Meeting held on 15th May, 2026 for Financial Results for the Fourth quarter and Year ended on 31st March, 2026.
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The Board approved audited standalone financial results for Q4 and FY2026. Revenue from operations dropped sharply to Rs 7,351.59 Lacs from Rs 12,309.05 Lacs in FY2025 — a ~40% decline driven primarily by a collapse in the Quartz Division (revenue fell from Rs 3,946 Lacs to Rs 1,158 Lacs). The company posted a net loss of Rs 1,181.75 Lacs, nearly doubling the prior year's loss of Rs 642.28 Lacs. Finance costs of Rs 1,511.25 Lacs remain a major drag. The Statutory Auditor issued an unmodified (clean) opinion with no going concern or qualification flags. The Board also re-appointed M/s. Sreekantha & Co. as Internal Auditors for FY2026-27. Operating cash flow was positive at Rs 1,672.91 Lacs, helped by working capital reductions.
The near-doubling of losses and ~40% revenue decline signal deep operational stress, particularly in the Quartz segment. Despite a clean audit opinion, the deteriorating financials and heavy debt servicing costs will weigh heavily on investor sentiment. Any recovery depends on Quartz Division turnaround.