Approved Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended September 30, 2025
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The board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. On a consolidated basis, revenue grew sharply to Rs 134.13 lakh in H1 FY26 from Rs 76.74 lakh in H1 FY25, but the company swung into a loss of Rs 239.62 lakh versus a profit of Rs 12.80 lakh a year earlier, mainly due to higher employee, finance and other operating costs. Standalone results showed revenue of Rs 60.77 lakh but a wider loss of Rs 236.67 lakh (vs Rs 28.40 lakh loss in H1 FY25). The board also accepted the resignation of statutory auditor Girish L. Shethia, who had been appointed just on September 29, 2025, citing pre-occupation with other assignments, and recommended appointing M/s. K. M. Garg & Co. as the new auditor, pending shareholder approval via postal ballot. A new Whole-Time Director (Finance), Mr. Vikram Kantilal Doshi, was also appointed effective October 13, 2025.
For shareholders, this confirms the company is still in a loss-making build-out phase as it expands hotel operations, with widening losses offsetting strong topline growth. The abrupt auditor change within roughly six weeks of appointment, though attributed to personal reasons, may raise short-term governance concerns and could weigh on sentiment.