Outcome of Board Meeting
Price
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Awaiting price reaction for this filing.
Facor Alloys' board approved unaudited standalone and consolidated results for Q2 and H1 FY26. The plant has been temporarily shut down since 31 October 2023, leading to near-zero revenue from operations (₹101.64 lakhs for Q2 and ₹106.35 lakhs for H1, mostly from inventory adjustments rather than actual sales). The company reported a standalone net loss of ₹367.04 lakhs for Q2 FY26 and ₹832.60 lakhs for H1 FY26, with EPS of ₹(0.19) and ₹(0.43) respectively. Exceptional items provided some cushion — gains on sale of fixed assets (₹164 lakhs), excess inventory sale (₹42 lakhs), and sundry balances written back (₹67 lakhs). Cash improved to ₹479.61 lakhs mainly due to working capital movements rather than operations. The statutory auditor gave an unmodified review on standalone results but was unable to express any conclusion on consolidated results because financial data for a foreign subsidiary was not available.
Shareholders face a high-risk, going-concern situation — the plant remains idle, core operations are loss-making, and survival depends on asset sales (advance of ₹13.31 crores already received from a buyer) and promoter fund infusions. Investors should expect continued volatility and weak stock sentiment until operations actually resume.