Outcome of Board Meeting Held on 14th November, 2025

Emphasis of matterAdverse audit opinionRevenue declinedNet loss reportedRelated-party transactionsResults View source PDF Explain this filing

Price

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

-6.4%Reaction day

₹3.14

prior close

₹3.14

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-7.0% vs market

Trading & Distributors peers, median of 130sector-0.7%-5.7% vs sector

On the reaction day the stock moved 7.0 pts less than Nifty Microcap 250 and 5.7 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.3

10m

-4.5

15m

-1.3

30m

-1.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-6.4+0.6-7.0-0.7-5.7

Next day

-3.5-0.2-3.3-1.2-2.3

-8.6-0.4-8.2-1.9-6.7

-6.1-0.7-5.3-2.3-3.8

-4.1-2.2-1.9-2.6-1.6

-4.1-2.8-1.3-4.3+0.1

-8.0-1.4-6.6-3.1-4.8

15d

-14.6-7.0-7.6-7.0-7.7

-19.4-6.1-13.3-6.7-12.7

-30.9-9.2-21.6-11.8-19.1

-25.2-6.8-18.3-12.6-12.5

UpDownMarket · Nifty Microcap 250Sector · Trading & Distributors peers, median of 130Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

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.

Likely market impact

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.