We are resubmitting the unaudited financial results for the quarter ended on September 30, 2025 as in our previous submission we inadvertantly not attached the limited review report due ....
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The company has resubmitted its Q2 FY26 results after originally forgetting to attach the limited review report. Revenue from operations for the quarter rose to Rs 16.21 lakhs from Rs 9.77 lakhs a year ago, but the company reported a net loss of Rs 2.31 lakhs for the quarter, narrowing from Rs 11.15 lakhs loss in Q2 FY25. For H1 FY26, the loss stood at Rs 21.28 lakhs versus Rs 24.61 lakhs in the same period last year. Finance costs of Rs 25.98 lakhs in H1 remain the biggest drag, and accumulated reserves are deeply negative at Rs -756.94 lakhs. The Shipyard segment is the sole revenue earner, while the Fishery segment posted negligible revenue and a Rs 4.53 lakh loss in H1. The auditor issued an unqualified limited review report, and the company confirmed no loan defaults.
Although quarterly losses are shrinking and revenue is growing from a small base, the deeply negative reserves and continued losses raise going-concern concerns for shareholders. The stock is likely to remain thinly traded and high-risk, with no visible path to profitability until finance costs and segment losses are addressed.