Board of Directors at its meeting held today, the 10th November, 2025, considered and approved the unaudited financial results for the quarter and half year ended September 30, 2025 together ....
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Gujarat State Financial Corporation's Board approved unaudited results for Q2 and H1 FY26, reporting a net loss of Rs. 3,196 lakh for the quarter and Rs. 6,298 lakh for the half year, slightly wider than the prior year periods. Total income came in at Rs. 410.42 lakh in Q2, down marginally from Rs. 412.85 lakh a year ago, while interest expenses remained very high at Rs. 3,554 lakh against interest earned of just Rs. 5.07 lakh. The Corporation's reserves are deeply negative at Rs. 3,21,764 lakh, and both gross and net NPAs stand at 100% of advances. The statutory auditors issued a qualified review report, flagging that accounts are prepared on a going concern basis despite fully eroded net worth and defaults in repayment obligations. An exceptional item of Rs. 65.50 lakh (NPA provisions written back) was booked in H1.
This is a deeply negative filing — the company continues to make large losses, has 100% NPAs, and its net worth is fully eroded, prompting a qualified auditor opinion on going concern assumptions. Shareholders should view this as a high-risk situation with serious questions about long-term solvency, though the Government of Gujarat holds 55.09% of shares.