Financial Results for 30-09-2025
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Awaiting price reaction for this filing.
CMX Holdings Ltd (formerly SIEL Financial Services) reported weak results for Q2 FY26 with total income of ₹4.50 lakh, unchanged from the previous quarter but down sharply from ₹11.86 lakh in Q2 FY25. The company posted a loss after tax of ₹20.75 lakh in Q2 and ₹28.26 lakh for H1 FY26, swinging from a small profit of ₹0.26 lakh in H1 FY25. Total expenses surged to ₹37.26 lakh in H1 FY26, driven by employee costs and a one-time finance cost of ₹11.40 lakh. The statutory auditor issued a qualified conclusion, flagging that the company's NBFC licence application was rejected by the RBI, several borrowings and receivables remain unconfirmed, and accumulated losses of nearly ₹24 crore have completely wiped out net worth. An emphasis of matter was also raised on unresolved call-in arrears. Separately, the board approved a proposed name change and appointed three new independent directors following a change of control, with acquirer Mr. Amay Vatsalya now holding 51.76% of the company.
This is a deeply negative filing for shareholders. The auditor has flagged material uncertainty on going concern status, net worth is negative at ₹(5.95) crore, and operating cash flows remain negative — raising serious questions about the company's ability to continue operations. The change of control and new management may attempt a turnaround, but the financial position is precarious.