The Board of Directors have approved the unaudited financial results for the quarter ended 30th June 2025.
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Chrome Silicon Limited reported unaudited Q1 FY26 results showing a sharp revenue collapse, with sales falling to just Rs 23.75 lakhs from Rs 3,508.77 lakhs in the year-ago quarter, a drop of over 99%. The company posted a loss of Rs 214.50 lakhs for the quarter, narrower than the Rs 657 lakh loss in Q1 FY25 but coming on top of a massive Rs 8,594 lakh loss for FY25. The auditor issued a qualified opinion flagging multiple issues: non-compliance with Ind AS 19 (no provision for gratuity), Rs 13.34 crore of interest-free loans and advances with uncertain recoverability, no physical verification of inventories or property/plant/equipment, and missing balance confirmations for Rs 10.63 crore of trade payables. The company also disclosed an emphasis of matter regarding the temporary shutdown of its ferro alloys manufacturing facility from May 30, 2025, citing adverse market conditions, with no clear timeline for resumption.
The near-total revenue collapse, continued losses, negative operating cash flow of Rs 631 lakhs, a qualified audit opinion, and an indefinite plant shutdown paint a deeply concerning picture for shareholders. With closing cash of just Rs 12.92 lakhs and Rs 1,308 lakhs of fresh borrowings in the quarter to fund operations, the stock carries significant going-concern risk and is likely to remain under pressure.