Elgi Rubber Company Limited has informed the Exchange about the approval of the Board of Directors for reversal of interest receivable from wholly owned subsidiaries recognized during the quarter ended September 30, 2025
ELGIRUBCO · price
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The Board of Directors of Elgi Rubber Company Limited has approved reversing the interest receivable that was earlier recognized from its wholly owned subsidiaries for the quarter ended September 30, 2025. This means the company will no longer count this interest income in its books, effectively reducing its reported earnings for that quarter. The reversal suggests the company does not expect to collect this interest from its subsidiaries in the near term. This is an accounting adjustment specific to inter-company balances between the parent and its subsidiaries.
Shareholders should expect lower reported profits for Q2 FY26 due to this reversal. The move may raise concerns about the financial health of the company's wholly owned subsidiaries, though it is a non-cash adjustment.