Outcome of Board
Price
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The Board approved unaudited Q1 FY26 results (ended 30 June 2025) on a standalone and consolidated basis, with the statutory auditor (Balan & Co.) issuing an unmodified opinion. The company slipped into a net loss of about Rs 650 lakhs in Q1 FY26 against a profit of about Rs 51,967 lakhs in Q1 FY25, with revenue from operations collapsing from roughly Rs 13,662 lakhs to about Rs 526 lakhs. Exceptional items of around Rs 714 lakhs in the quarter relate mainly to an interest-rate reduction ordered by the Supreme Court on a prior Bombay High Court mesne profits liability. On a positive note, the Government of India formally waived the long-standing GOI loan of Rs 43,556 lakhs and Redeemable Preference Shares of Rs 27,000 lakhs (together with huge accumulated interest), with corresponding capital reduction approved. The Board also re-appointed Cost Auditors (B.B.S. Associates), appointed a new Secretarial Auditor (S Basu & Associates), and fixed the 64th AGM for 26 September 2025.
Operations look weak with sharply lower revenue and a return to losses, but the massive government loan and preference share waiver is a major balance-sheet positive that reduces leverage and finance costs going ahead. Going concern is intact for the parent (Kochi unit operational, restructuring under way), though subsidiary Hindustan Fluorocarbons is no longer a going concern, and the auditor flagged this via Emphasis of Matter paragraphs.