Board of Directors at its meeting held on February 13, 2026 inter alia considered and approved the un-audited financial results for the quarter and nine months ended December 31, 2025 together ....
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Gujarat State Financial Corporation (GSFC), a state-owned statutory lending body, reported a net loss of ₹3,192.61 lakh for Q3 FY26 and ₹9,490.74 lakh for the nine months ended December 2025, slightly wider than the prior year's losses of ₹3,165.99 lakh and ₹9,432.42 lakh respectively. Total income for the nine months rose modestly to ₹1,232.15 lakh from ₹1,105.80 lakh, but interest expenses remain extremely high at ₹10,620.87 lakh, leaving massive operating losses. The company's gross and net NPA ratios stand at 100%, paid-up equity capital is ₹8,911.40 lakh while reserves are deeply negative at (₹315,431.29) lakh, indicating completely eroded net worth. The statutory auditor issued a qualified conclusion, flagging that accounts are prepared on a going-concern basis despite liquidity defaults and fully eroded net worth. The board also extended MCS Share Transfer Agent Ltd's appointment as registrars for three more years.
This is a severely distressed company — the auditor has formally qualified the results citing going-concern doubts, net worth is wiped out, 100% of advances are NPAs, and losses continue to mount. Shareholders should treat this as a very high-risk situation with little prospect of equity recovery; the stock is likely to remain under pressure.