Pursuant to the Regulation 30 of Securities and Exchange Board of India (LODR) Regulations 2015, we are pleased to inform you that the Meeting of the Board of Directors of Emerald Leisures ....
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The board, at its meeting on February 14, 2026, approved unaudited standalone and consolidated financial results for Q3 FY26 (Oct-Dec 2025) and the nine-month period ended December 31, 2025. Standalone revenue from operations rose to Rs 469.51 lakhs in Q3 (vs Rs 434.44 lakhs a year earlier), with nine-month revenue at Rs 1,133.94 lakhs. Despite this, the company continued to post losses, reporting a Q3 net loss of Rs 225.16 lakhs and a nine-month net loss of Rs 792.87 lakhs, largely due to steep finance costs of Rs 360.34 lakhs in the quarter alone (~77% of revenue). The management conducted a going concern review and an impairment assessment of non-financial assets, concluding no impairment was required as of December 31, 2025. Statutory auditor P G Bhagwat LLP issued an unmodified review report but included an explicit 'Emphasis of Matter' paragraph drawing attention to the impairment assessment in Note 3.
Persistent quarterly losses and the auditor's emphasis on the going concern and impairment review are red flags for shareholders. With hospitality segment capital employed deeply negative (Rs 9,657 lakhs) and finance costs far outstripping operating profit, debt servicing remains a key risk. The stock may see pressure until the company demonstrates a path to operating profitability.