Q2 FY26 Results: Standalone Loss of Rs 509L, Auditor Issues Qualified Report

Qualified audit opinionNet loss reportedRevenue declinedGoing-concern doubtNegative operating cash flowDebt to equity above the thresholdResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-5.6% vs market

Road Assets - Toll Annuity Hybrid-Annuity peers, median of 5sector-0.3%-5.4% vs sector

On the reaction day the stock moved 5.6 pts less than Nifty Microcap 250 and 5.4 pts less than its Road Assets - Toll Annuity Hybrid-Annuity peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Road Assets - Toll Annuity Hybrid-Annuity peers, median of 5Pending

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AI summary

Q2 FY26 standalone net loss of Rs 508.82 lakhs vs profit Rs 1,142.80 lakhs a year ago. Revenue nil. H1 FY26 profit of Rs 2,643.49 lakhs driven by Rs 3,459.50 lakhs dividend. Auditor issued qualified review report flagging non-confirmation of Rs 17,887.51 lakhs ZISL write-back, default on IL&FS loan of Rs 5,015.86 lakhs, and non-impairment of Rs 4,820.51 lakhs in joint entities. Standalone other equity deeply negative at Rs 21,379 lakhs. Subsidiary IDTL is under liquidation.

Likely market impact

Negative results and qualified audit report raise serious concerns about financial health, unresolved loan defaults and likely overstatement of equity. Negative for shareholders.