Outcome of Board Meeting Held on 14th November, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
IGC Industries' board approved unaudited results for the quarter ended September 30, 2025, showing nil revenue (down from ₹198.51 lakh in Q2 FY25) and a marginal loss of ₹0.04 lakh. Total assets stood at ₹5,445.40 lakh, entirely backed by equity of ₹4,267.67 lakh with no borrowings. The statutory auditor disclaimed any opinion on the results, flagging that advances of around ₹9.32 crore and unsecured loans of ₹9.58 crore lack adequate supporting documentation and could not be verified as arm's-length transactions. The auditor also highlighted non-compliance with GST and TDS filing/deposit requirements under Indian statutes.
The auditor's disclaimer of opinion, combined with large undocumented advances/loans and GST/TDS compliance failures, signals serious corporate governance and transparency red flags. Shareholders should treat this filing as a negative watch item, as it raises doubts about the recoverability of significant advances and the company's regulatory standing.