Pursuant to the Regulation of SEBI Listing Regulations, we hereby inform you that the Board at its Meeting held today i.e., Friday, November 14, 2025 have inter-alia, considered and approved: 1. ....
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The board approved unaudited financial results for Q2 and H1 FY26 ended September 30, 2025. Revenue from operations jumped sharply to Rs. 275.55 lakhs in Q2 FY26 from Rs. 49.90 lakhs in Q2 FY25, with H1 FY26 revenue at Rs. 507.41 lakhs versus Rs. 183.17 lakhs in H1 FY25. However, the company slipped into a loss at the consolidated level for the quarter, posting a loss after tax of Rs. 9.56 lakhs in Q2 FY26 versus a loss of Rs. 29.97 lakhs in Q2 FY25. For H1 FY26, profit after tax fell to Rs. 5.37 lakhs from Rs. 31.42 lakhs a year ago. Separately, Independent Director Mr. Devendra Lal Thakur resigned citing pre-occupation and personal commitments, effective November 14, 2025. The statutory auditor (ARCK & Co.) issued an unmodified limited review report. The company also drew down new borrowings of Rs. 2,642.65 lakhs and converted 2.72 crore warrants into equity shares during the period.
Strong top-line growth is a positive signal, but the sharp rise in operating expenses (employee costs jumped nearly 13x) and negative operating cash flow of Rs. 2,683.69 lakhs in H1 FY26 raise concerns about earnings quality and liquidity. Shareholders should watch whether the revenue momentum translates into sustainable profitability, while the independent director exit, though for personal reasons, warrants attention given small-cap NBFC governance.