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Awaiting price reaction for this filing.
Glittek Granites reported very weak Q2 FY26 results, with revenue from operations plunging to just ₹468 lakhs versus ₹2,139 lakhs in the same quarter last year — a drop of around 78% quarter-on-quarter. For the half year (H1 FY26), revenue collapsed from ₹12,535 lakhs to ₹468 lakhs, a staggering ~96% year-on-year decline, suggesting the core granites business has nearly wound down. The company posted a loss after tax of ₹40.18 lakhs for the quarter and ₹34.90 lakhs for H1 FY26, but losses have narrowed sharply from ₹1,253.67 lakhs and ₹1,568.51 lakhs respectively in the prior year, partly due to drastically lower operating expenses. Other equity has worsened to ₹(195.99) lakhs (negative), and operating cash flow turned negative at ₹(195.19) lakhs versus a positive ₹271.63 lakhs a year ago. Cash and equivalents stood at ₹601.33 lakhs as on 30 September 2025.
Shareholders should view this negatively — revenue has virtually evaporated while the company continues to bleed cash from operations and carries negative reserves. Although losses have shrunk, this is largely due to cost-cutting rather than a recovering business, raising serious concerns about the company's future operations and going-concern status.