Enclosed herewith Board Meeting outcomes dated 28th October 2025
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The board approved unaudited standalone financial results for Q2 and H1 FY26 ended September 30, 2025. Operational revenue collapsed to just ₹9.10 lakhs in H1 FY26 versus ₹785.20 lakhs a year earlier, and the company posted a loss before tax of ₹530.24 lakhs (H1 FY25 loss was ₹4,304 lakhs, swollen by a one-time exceptional item). Other equity has turned deeply negative at ₹(4,585.76) lakhs, cash has shrunk to only ₹6.16 lakhs, and operating cash flow was negative at ₹(145.94) lakhs. The auditor's Limited Review Report drew specific attention to a ₹368 lakh provision newly created for the long-running Mahim Division eviction matter (finally dismissed by the Supreme Court in July 2024). Separately, CFO Amit Satishchand Tyagi resigned effective October 28, 2025 citing personal reasons, and the company disclosed it paid a ₹35.10 lakh SEBI penalty under protest during the quarter.
For shareholders, this is a clearly distressed picture: near-total revenue erosion, recurring losses, eroded net worth, tight liquidity, and unresolved legal/regulatory overhangs on legacy premises. Combined with a CFO exit and the auditor's emphasis-of-matter reference, the stock carries meaningful downside risk and is likely to remain dependent on external funding or asset support.