As per Attachment
Awaiting price reaction for this filing.
Procal Electronics India Ltd reported a net loss of Rs. 1.16 lakhs for Q2 FY26 and Rs. 2.32 lakhs for H1 FY26, with effectively zero revenue from operations as the company has had no manufacturing or trading activity for several years. Shareholders' equity is deeply negative at Rs. (550.95) lakhs against borrowings of Rs. 1,012.55 lakhs, indicating completely eroded net worth. The statutory auditor (PAMS & Associates) issued a qualified conclusion, flagging going concern uncertainty — the Silvassa manufacturing unit is under Canara Bank's control due to NPAs with outstanding bank liabilities of around Rs. 64.64 crores. Inventory and fixed assets at Silvassa could not be physically verified, several bank accounts are inoperative, and some payments were made from directors' personal accounts. The auditor also referenced its prior adverse opinion on the FY25 audited financials and a related-party loan of Rs. 57,338 taken from Managing Director Mahendra Kumar Bothra during the quarter.
This is a deeply distressed company with effectively no operations, fully eroded net worth, and unresolved bank recovery proceedings — a very negative picture for shareholders, with significant risk to any remaining equity value and ongoing legal/asset-recovery overhang from Canara Bank.