We wish to inform you that the Board of Directors ('Board') of the Company at its Meeting held today, has inter alia, considered, approved and taken on record: 1. Pursuant to Regulation ....
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Awaiting price reaction for this filing.
Cressanda Railway Solutions reported weak Q2 FY26 results with standalone revenue from operations at just ₹86.19 lakhs (vs ₹356.75 lakhs in Q1 FY26) and a standalone loss before tax of ₹(358.24) lakhs for the quarter. Consolidated revenue for H1 FY26 fell sharply to ₹664.65 lakhs from ₹1,876.48 lakhs in H1 FY25, and the company reported a consolidated loss of ₹(405.32) lakhs versus a profit of ₹40.08 lakhs last year. The auditor flagged serious concerns: no supporting documents for loans and advances of ₹8,422.59 lakhs, unconfirmed trade payables/receivables, and that ₹4,106.10 lakhs raised via a Rights Issue was deployed contrary to the stated purpose (funds meant for working capital were given as unsecured loans instead of being used as per the letter of offer). A major project under work-in-progress was also written down by ₹1,697.08 lakhs due to client non-performance. Cash position is razor-thin at just ₹15.17 lakhs (standalone) with negative operating cash flow of ₹(212.23) lakhs.
This is a negative filing for shareholders — the company swung from a small profit in FY25 to deep losses, revenue collapsed on a consolidated basis, and the auditor's qualifications raise red flags about fund deployment and asset quality. Expect negative stock sentiment; investors should watch for further disclosures on the ₹8,422 lakh loans and the non-compliant use of Rights Issue proceeds.