The Board of Directors have approved the Audited Financial Results and also decided to initate postal ballot for sale of plant and machinery of company situated at Rudraram Village, Telanagana
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Chrome Silicon Limited's board approved audited financial results for FY2026 showing total income of Rs 1,056.86 Lacs with a net loss of Rs 984 Lacs (vs Rs 8,594 Lacs loss previous year). The board also decided to sell its entire Ferro Alloys manufacturing unit at Rudraram, Telangana, which historically contributed 100% of company revenue. An independent Chartered Engineer found restart not viable due to technological obsolescence, high power costs, volatile markets, and regulatory constraints. The sale will be on 'as is where is' basis through a transparent tender process, with proceeds earmarked for debt repayment and working capital. Shareholder approval via postal ballot is being sought under Section 180(1)(a) of Companies Act, 2013. Expected completion is 31 October 2026. The auditors issued a qualified opinion citing non-compliance with multiple Ind AS standards.
The sale of the 100% revenue-generating unit effectively means the company is divesting its entire core business operations, leaving it as essentially a shell with remaining assets and liabilities. Shareholders face significant uncertainty as the company will have minimal operating revenue post-sale.