Outcome of the Board Meeting held on August 14, 2025 to consider and approve unaudited Standalone and Consolidated financial results of the Company for the quarter ended June 30, 2025 along ....
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The Board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations was nil (vs Rs. 12.05 lakh in Q4 FY25 and nil in Q1 FY25), while total expenses stood at Rs. 20.58 lakh, leading to a net loss of Rs. 20.58 lakh. On a consolidated basis, the loss widened to Rs. 38.02 lakh (first-time consolidation with 11 subsidiaries, no prior comparatives). The company's other equity is negative at Rs. (266.33) lakh, indicating accumulated losses exceed share capital. Paid-up equity capital surged to Rs. 51.98 crore from Rs. 96 lakh after a preferential allotment (Crochet Industries became a material subsidiary via share swap and conversion of director loans).
The company remains in pre-revenue scaling phase with continuous losses, though management expects revenue to start flowing from Q3 FY26. Shareholders should note negative net worth on a standalone basis, but large equity infusion and planned acquisitions in Odisha plus CIRP bid for SDF Industries signal aggressive expansion. The stock is event-driven; near-term price action may depend on progress of acquisitions and strategic investor funding.