Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Facor Alloys Ltd reported its Q4 and full year FY2026 financial results. The company's manufacturing operations have remained suspended since October 31, 2023, resulting in minimal revenue of only Rs 146.99 lakhs for the year. The standalone net loss was Rs 1,479.68 lakhs, while consolidated net loss was Rs 1,427.34 lakhs. Statutory auditors issued an unmodified (clean) opinion on standalone results but issued a disclaimer of opinion on consolidated results due to inability to obtain financial data from an overseas subsidiary following a management change. The company received Rs 27.97 crore as advance for proposed sale of plant and machinery, pending final execution. Exceptional items included Rs 404.20 lakhs in arrear electricity charges and Rs 61.78 lakhs profit from sale of excess anthracite coal inventory. The Board also approved entry into Gati Shakti Cargo Terminal business.
The company faces severe financial distress with suspended operations and significant losses for 3 consecutive years. The disclaimer on consolidated accounts and going concern warnings indicate high risk for shareholders. The proposed asset sale may provide some liquidity relief.