as per enclosed letter.
Awaiting price reaction for this filing.
Neueon Corporation (formerly Neueon Towers), which emerged from insolvency in October 2024 under a Preca-led resolution plan, reported Q2 FY26 standalone revenue of Rs. 412.33 lakhs and H1 FY26 revenue of Rs. 857.87 lakhs. The company posted a standalone loss before tax of Rs. 8,890.55 lakhs for Q2 and Rs. 11,098.90 lakhs for H1 FY26, driven mainly by heavy depreciation (Rs. 4,320 lakhs in H1) and other expenses. The Board allotted 50.89 crore equity shares (90% of the reduced capital) to new promoter Preca Structures Pvt Ltd and approved setting up three wholly-owned subsidiaries (Neueon Power, Enterprises and Global) with investments up to Rs. 100 crore each. It also gave in-principle approval to raise about Rs. 1,000 crore via a debt-equity mix to fund growth, while a Wholetime Director resigned and a new Non-Executive Director was appointed. The auditor gave a qualified conclusion, flagging the absence of impairment testing on PPE and investments despite indicators of impairment, and added an emphasis-of-matter note on Resolution Plan implementation.
Shareholders should note continuing large losses, a qualified auditor report on impairment testing, and a change of control to the new Preca-led promoter now holding 90% of the equity. The proposed Rs. 1,000 crore fund-raise and new subsidiaries signal a restructuring push but could lead to further dilution or debt addition.