Financial Results for the quarter ended 30.09.2025
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Emerald Leisures reported another weak quarter with revenue from operations of Rs 301.04 lakhs in Q2 FY26, slightly down from Rs 305.38 lakhs a year ago. The company posted a net loss of Rs 314.73 lakhs for the quarter and Rs 566.83 lakhs for the half year, broadly in line with last year's losses. Finance costs remain a major burden at Rs 354.55 lakhs in the quarter, eating into the modest Rs 301.04 lakhs of revenue. The balance sheet shows deeply negative net worth of Rs (8,125.56) lakhs and total borrowings of around Rs 14,196 lakhs, far exceeding total assets of Rs 8,949 lakhs. Operating cash flow was negative Rs 66.84 lakhs on a standalone basis and negative Rs 437.72 lakhs on a consolidated basis. The auditor (P G Bhagwat LLP) issued an unmodified review report but included an Emphasis of Matter on the impairment assessment.
Shareholders face continued losses, a negative net worth, and rising debt, signalling serious financial stress; the going concern assessment, high finance costs, and negative operating cash flow are red flags, while the board's approval of partial preference share redemption and a preferential warrant issue suggest attempts to manage capital structure.