In connection with the board meeting held on today i.e. February 13, 2026, we are filing revised outcome. The revised outcome includes additional information and correction of error that ....
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EMA India Ltd's board (met Feb 13, 2026) approved unaudited standalone results for Q3 and 9 months ended Dec 31, 2025, along with multiple governance changes. The company reported zero revenue from operations and a small loss of Rs 12.04 lakhs before tax for the quarter, but posted a 9-month net profit of Rs 666.19 lakhs mainly due to a one-time exceptional gain of Rs 793.27 lakhs from the sale of its entire land and building at Udyog Nagar, Kanpur (sold for Rs 8 crore against a book value of Rs 6.73 lakhs). Independent auditor B.C. Jain & Co. issued an unqualified limited review report with an emphasis-of-matter note on this asset sale. On the governance side, Mr. Apurva Shivaji Adhalrao (brother of MD Akshay Adhalrao) was appointed Executive Director, Mr. Rajendra Senapati was appointed Independent Director replacing Ms. Honey Bhatia who resigned for personal reasons, and the Audit Committee and NRC were reconstituted. The promoter group has also sought reclassification from 'promoter' to 'public' category, subject to shareholder and BSE approval.
The headline Rs 666 lakh 9-month profit is essentially a one-time windfall from a property sale, not from operations—which remain shut (zero revenue). The Adhalrao family further consolidates board control with the appointment of the MD's brother, while the promoter-to-public reclassification request, if approved, would reduce the promoter shareholding classification. For retail investors, underlying business remains loss-making and the result is not sustainable without further asset sales.