Outcome of Board Meeting

Going-concern doubtRevenue declinedNet loss reportedContingent liabilities increasedDebt to equity above the thresholdResults View source PDF Explain this filing

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AI summary

The Board approved standalone unaudited financial results for Q2 and H1 FY26. Revenue from operations for Q2 FY26 stood at Rs 155.99 lakhs (vs Rs 151.41 lakhs in Q2 FY25), while H1 FY26 revenue fell to Rs 286.45 lakhs from Rs 307.12 lakhs, a decline of about 7% year-on-year. The company posted a net loss of Rs 266.08 lakhs for Q2 FY26 (vs Rs 461.87 lakhs loss in Q2 FY25) and Rs 564.29 lakhs for H1 FY26 (vs Rs 729.34 lakhs in H1 FY25). EPS was negative at Rs (10.30) for Q2 and Rs (21.85) for H1. Staggeringly, finance costs alone were Rs 316.60 lakhs per quarter (Rs 633.20 lakhs for H1), which is more than double the quarterly revenue. The auditor (M/s Ramesh & Ramachandran) issued an unmodified review report. Notes disclose significant pending litigations inherited from the Binny Limited demerger, a Rs 9.73 crore liability paid on behalf of the parent company (Rs 7.41 crore provisioned), and ongoing M.G. Road rent litigation.

Likely market impact

Investors should view this negatively — Binny Mills continues to report heavy losses with finance costs dwarfing operating revenue, pointing to a serious going-concern risk. Reserves appearing as nil and persistent negative EPS raise red flags about the company's long-term viability, though sequential loss narrowing provides a slight glimmer.