Considered and approved the Financial Results for the 4th quarter and year ended March 31, 2026
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Facor Alloys reported a standalone net loss of Rs 1,479.68 lakh for FY2026, with revenue from operations at just Rs 146.99 lakh. The company's manufacturing operations have remained suspended since October 31, 2023, resulting in minimal revenue. Statutory auditors issued an unmodified opinion on standalone results but with an Emphasis of Matter highlighting going concern uncertainty and the sale of excess inventory. However, on consolidated results, auditors issued a DISCLAIMER of opinion due to inability to obtain audit evidence for an overseas subsidiary excluded from consolidation. The company has decided to divest its plant and machinery, having received Rs 27.97 crore as advance. Exceptional items included FPPCA electricity charges of Rs 404.20 lakh and profit on sale of excess inventory of Rs 61.78 lakh.
The company is in severe financial distress with operations suspended for over 2.5 years and consistent losses. The auditors' going concern warning and disclaimer of opinion on consolidated results signal high risk for shareholders. The company is effectively being wound down through asset sales.