Financial Result for the Quarter and half year ended 30th September, 2025
Awaiting price reaction for this filing.
The Board Meeting, chaired by the Resolution Professional (RP) since the company's Board powers are suspended under CIRP, approved the unaudited standalone and consolidated financial results for Q2 and H1 FY26 (ended 30 September 2025). For standalone H1 FY26, total revenue fell to about Rs 69.09 lakh from Rs 87.38 lakh a year earlier, and the company reported a net loss of Rs 1,193.55 lakh, which includes a very large one-time exceptional item of Rs 1,564.13 lakh. On a consolidated basis, H1 FY26 net loss was Rs 1,194.72 lakh. The auditor issued a Limited Review Report with a 'Qualified Conclusion' over the manner in which Non-Sustainable Debt was booked as reserves during CIRP without final NCLT approval, plus a separate Emphasis of Matter on the ongoing insolvency. The CIRP was admitted in October 2019; the CoC approved a resolution plan in October 2020, but SBI withdrew support and NCLT ordered liquidation in January 2024 — NCLAT later stayed and remanded the matter, which remains pending before NCLT.
Shareholders face continued uncertainty — the company remains under insolvency proceedings with no approved or implemented resolution plan, recent losses include huge exceptional write-offs, and the auditor has qualified its review. This is a high-risk, going-concern situation and the stock is thinly traded; outcomes are now driven by NCLT/NCLAT decisions rather than operating performance.