Un-audited financial results for the quarter and nine months ended December 31, 2025 together with Limited Review Report on the said results were reviewed by the Audit Committee and approved ....
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Gujarat State Financial Corporation reported a net loss of Rs. 3,192.61 lakh for Q3 FY26 and Rs. 9,490.74 lakh for the nine months ended December 31, 2025, compared to losses of Rs. 3,165.99 lakh and Rs. 9,432.42 lakh in the corresponding prior periods, showing a slight deterioration. Total income in Q3 stood at Rs. 414.22 lakh while interest expenditure was Rs. 3,564.97 lakh, leading to an operating loss of Rs. 3,201.03 lakh. The Corporation wrote back Rs. 8.42 lakh in NPA provisions in Q3 (exceptional item). Net worth remains completely eroded (reserves of Rs. -3,15,431.29 lakh as of March 2025), with Gross and Net NPAs at 100% of advances. Statutory auditors issued a qualified review report, flagging going concern issues and pending confirmation of dues to the Government of Gujarat. The Board also extended the Registrar & Transfer Agent services of MCS Share Transfer Agent Ltd for three years till March 31, 2029.
This is a deeply negative filing for shareholders. The Corporation continues to operate with a completely eroded net worth, 100% NPA ratio, persistent losses, and liquidity defaults, yet books are prepared on a going concern basis justified by its statutory status. The qualified audit opinion signals material uncertainty, and shareholders should expect continued losses with no near-term recovery in sight.