Outcome of the Board Meeting held on 29th May, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board approved audited financial results for FY 2025-26 showing a net loss of Rs 232.28 Lakhs, significantly worse than the previous year's loss of Rs 112.80 Lakhs. Revenue from operations dropped sharply to Rs 7.65 Lakhs from Rs 33.95 Lakhs. The company's total equity has turned negative at Rs -5.69 Lakhs, indicating serious capital erosion. Auditors M.B. Gupta & Co. issued a qualified opinion due to the company's Net Owned Fund (NOF) falling below the RBI-mandated minimum of Rs 5 crores, raising material uncertainty about the company's ability to continue as a going concern. Additionally, the Company Secretary position was vacant for most of the year violating statutory requirements. The company has filed a scheme of amalgamation with NCLT which management believes will increase NOF upon approval.
This is a highly negative development. The negative equity, regulatory NOF breach, and auditor's going concern warning indicate severe financial distress. The stock faces significant risk as the company's NBFC status may be jeopardized, and shareholders could see total value erosion.