Financial results with limited review report by SVH & Associates, Chartered Accounts for the quarter 30th September 2025
Awaiting price reaction for this filing.
Shree Narmada Aluminium Industries reported a loss of Rs 15.43 lakh in Q2 FY26, widening from a Rs 2.68 lakh loss in Q2 FY25. For the half-year (H1 FY26), the loss stood at Rs 16.75 lakh versus Rs 12.39 lakh in H1 FY25. The company recorded zero income from operations, with only minimal other income. Total equity is deeply negative at Rs (740.91) lakh, with reserves and surplus at Rs (793.88) lakh, meaning net worth is fully eroded. The auditor (SVH & Associates) flagged a going concern qualification, noting that despite the Supreme Court's August 2025 order confirming the 2008 rehabilitation scheme, material uncertainty remains about the company's ability to continue as a going concern — a recurring qualification carried for many years.
This is a deeply distressed, non-operating company with zero revenue, mounting losses, fully eroded net worth, and current liabilities of Rs 750.51 lakh against current assets of just Rs 0.49 lakh. The repeated going concern qualification and lack of business activity suggest serious solvency risk for shareholders, though the favourable Supreme Court order provides some legal clarity on past creditor disputes.