Attaching herewith the Audited Financial Results for the quarter and financial year ended March 31,2026
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Cityman Ltd reported a net loss of Rs. 33.38 lakhs for FY2026, compared to a loss of Rs. 31.48 lakhs in FY2025, representing a 6% increase in losses. Total expenses stood at Rs. 33.38 lakhs against revenue figures that were not disclosed in the filing. The balance sheet reveals severe financial distress with negative total equity of Rs. 697.16 lakhs, indicating that liabilities exceed assets by this amount. Borrowings stand at Rs. 1,431.06 lakhs while cash reserves are negligible at Rs. 0.83 lakhs. The auditor issued an unmodified (clean) opinion on the financial statements.
The company is technically insolvent with negative equity and accumulating losses, posing extreme risk for shareholders. The stock appears to be trading at a significant discount due to these financial difficulties. Any investment would be highly speculative given the deteriorating financial position.