Please find enclosed Unaudited Financial results for quarter and half year ended on 30th September, 2025

Going-concern doubtQualified audit opinionEmphasis of matterProfit growth above 25%EBITDA margin expansionRelated-party transactionsResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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₹63.05

prior close

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announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+0.3% vs market

Industrial Products peers, median of 116sector-0.1%+1.0% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 1.0 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Board approved Q2 FY26 results showing a turnaround: net profit of ₹102 lakhs versus a loss of ₹57 lakhs in the same quarter last year, and H1 net profit of ₹218 lakhs versus a loss of ₹89 lakhs in H1 FY25. Revenue was nearly flat at ₹3,502 lakhs for the quarter and ₹6,678 lakhs for the half year. The auditor issued a qualified review report, flagging that the company defaulted on redemption of Non-Convertible Debentures (aggregate dues of ₹213.85 lakhs called by the trustee) and that the company carries negative working capital of ₹1,984 lakhs, triggering a material 'going concern' uncertainty. Separately, the Board accepted the resignation of Independent Director Mr. Mahesh Sapariya, authorised sale of its Delhi office, and approved the sale of its Textile Engineering business to Nfinia Industries — a company owned and controlled by the promoters — on a slump-sale basis.

Likely market impact

Despite the swing back to profit, this is a high-risk stock: the auditor's qualified opinion, NCD default, negative working capital, irregular statutory dues, and going-concern flag all signal serious liquidity stress. Shareholders should also watch the related-party sale of the Textile Engineering business to a promoter entity, which raises corporate governance concerns and may affect minority shareholder value.