Loss narrows as one-time settlement returns, but auditor flags severe financial stress
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Board approved unaudited September 2026 results: quarter loss of Rs 2,018.75 lakh and half-year loss of Rs 3,986.41 lakh, both lower year on year. Review was qualified because net worth is fully eroded, repayments are in default and Gujarat government dues are unconfirmed. One-time settlement for term loans of Rs 15 lakh and above was revived. Delayed interest was not charged: Rs 1,245.98 lakh for the quarter and Rs 2,466.77 lakh for the half-year.
Loss narrowing was helped by excluding delayed interest. Qualified review, eroded net worth, 100% NPA ratio and negative cash flow signal severe risk.