Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, please find attached Unaudited Financial Results (Standalone) for the Quarter and Half year ended September 30, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.2 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
IITL Projects reported no revenue from operations for Q2 FY26 (₹0) and H1 FY26 (₹0), with only other income of ₹44.03 lakhs and ₹91.77 lakhs respectively. The company swung to a small profit of ₹24.11 lakhs in Q2 FY26 from a loss of ₹129.13 lakhs a year ago, but H1 FY26 still shows a net loss of ₹233.80 lakhs versus a loss of ₹233.80 lakhs in H1 FY25, primarily because the prior year carried a heavy ₹320 lakh finance cost that is now absent. The board has flagged a serious going concern issue in Note 3.2: accumulated losses of ₹606.71 lakhs have wiped out net worth, total liabilities exceed total assets, and the company has no business or cash flows of its own, with results prepared on a non-going-concern basis. The auditor (Maharaj N R Suresh & Co. LLP) has highlighted this as an emphasis-of-matter in its limited review report. Alongside results, the board approved selling 4,00,880 preference shares in Capital Infraprojects for ₹40 lakhs (below book value of ₹48.10 lakhs), extending the redemption of 70 lakh zero-coupon NCRPS held by parent Industrial Investment Trust Ltd to March 31, 2028, and appointed Mr. Gorakh Ingale as the new CFO.
This is a deeply negative filing for shareholders — the company is essentially a shell with no operations, fully eroded net worth, and an explicit going concern qualification, meaning there is real doubt about whether it can continue as a viable business. The NCRPS extension signals continued parent support to avoid an immediate liability crunch, while asset sales and the CFO change point to a company in wind-down or restructuring mode rather than growth.