For March 2026
Awaiting price reaction for this filing.
Foundry Fuel Products Ltd reported zero revenue from operations for Q4 and full year ended March 2026, as the company has no active business operations and is searching for a new suitable business project. The company posted a net loss of Rs. 25.76 lakhs for FY2026 compared to a loss of Rs. 24.69 lakhs in the previous year. Administrative and other expenses stood at Rs. 15.70 lakhs while finance costs were Rs. 8.89 lakhs. The company's net worth has turned negative at Rs. 150.03 lakhs (up from Rs. 124.28 lakhs), and current liabilities exceed current assets. The statutory auditor issued an unqualified opinion but drew attention to a material uncertainty related to going concern, citing the lack of operations, negative net worth, and excess of current liabilities over current assets. The holding company has committed to infuse funds as and when required.
The company is essentially a shell with no revenue, mounting losses, and negative net worth. Despite the going concern warning, the auditors did not modify their opinion due to the holding company's funding commitment. However, shareholders should be cautious as the stock remains high-risk until a viable business is identified.