AS PER LETTER ATTACHED
Awaiting price reaction for this filing.
The board met on February 13, 2026 and approved unaudited Q3 FY26 (quarter ended Dec 31, 2025) results. Revenue from operations fell sharply to Rs. 50.85 lakhs in Q3 vs Rs. 121.38 lakhs in Q3 FY25, and the company posted a loss of Rs. 58.13 lakhs for the quarter versus a profit of Rs. 17.68 lakhs a year ago. Nine-month FY26 loss widened to Rs. 132.34 lakhs (vs Rs. 16.68 lakh loss in 9M FY25). The company also took note of the resignation of Independent Director Mr. Shishir Dileep Joshi and appointed Ms. Dimple Joshi (DIN: 10418431) as Additional Independent Director with immediate effect. The auditor issued a qualified conclusion because of an old Rs. 769.68 lakh interest-free unsecured loan from an ex-director and a member, and flagged material uncertainty on going concern since net worth is fully eroded and current liabilities exceed current assets.
Negative on fundamentals — revenue is shrinking, losses are deepening, and net worth is wiped out with an explicit going-concern warning; promoter funding support is the only thing keeping books on a going-concern basis. The open offer from a new acquirer at Rs. 15/share (expired Jan 28, 2026, SEBI response awaited) and director refresh are potential catalysts, but shareholders face material uncertainty until the unsecured loan is settled and the open offer outcome is known.