ASCR - March 31, 2026
Awaiting price reaction for this filing.
Inditalia Refcon Ltd reported zero operating revenue for FY2026 with total expenses of Rs 33.86 Lacs, resulting in a pre-tax loss of Rs 2.02 Lacs (vs Rs 6.78 Lacs loss in FY2025). A profit of Rs 28.91 Lacs was recorded after exceptional items (Rs 31.84 Lacs provisions written back). The company has no business activity and its net worth is fully eroded (equity share capital Rs 1190.07 Lacs vs negative other equity of Rs 1289.97 Lacs). The auditors flagged a material uncertainty regarding going concern. The company is taking steps to restore demat connectivity, has appointed a new RTA (Purva Sharegistry), and plans to approach BSE for revocation of its trading suspension (in place since 2002). SEBI had proposed compulsory delisting in June 2023. The secretarial audit flagged non-compliances: only 1.46% of shares dematerialised and a 48-day delay in appointing a Company Secretary.
The stock is suspended from trading since 2002 with no operating revenue, negative equity, and a pending SEBI delisting proposal. This is a distressed, speculative situation with very high risk. No meaningful investment case exists until the company restores trading and achieves operational revenue.