This is to inform you that BODs of the Company at their meeting held today i.e. Wednesday, 12.11.2025, has inter alia considered and approved: 1.Unaudited Standalone Financial Results of ....
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IITL Projects Limited's Board approved unaudited standalone financial results for Q2 and H1 FY26 (ended September 30, 2025). The company posted a Q2 net profit of Rs. 24.11 lakhs (compared to a loss of Rs. 129.13 lakhs in Q2 FY25), but still showed an overall H1 FY26 net loss of Rs. 233.80 lakhs with revenue from operations virtually NIL. Critically, Note 3.2 reveals that accumulated losses of Rs. 606.71 lakhs have fully eroded the company's net worth (negative equity of Rs. 105.92 lakhs) and total liabilities exceed total assets — the company has officially stated it ceases to be a going concern since it has no active business or cash flows. The Board also approved: (i) selling 4,00,880 preference shares in Capital Infraprojects Pvt Ltd to Medanta Real Estate for Rs. 40 lakhs (below the Rs. 48.10 lakhs book value, having been fully impaired earlier), (ii) extending redemption of 70 lakh zero-coupon preference shares issued to holding company Industrial Investment Trust Ltd until March 31, 2028 (pending shareholder approval via postal ballot), and (iii) appointing Mr. Gorakh Ingale as the new CFO and KMP.
This is a major red flag for shareholders — the company has declared itself not a going concern with wiped-out net worth, no operating revenue, and a negative equity, signaling serious solvency concerns. The statutory auditor has flagged this as an emphasis-of-matter (though their review report remains unmodified), and the operating cash flow was negative Rs. 72.89 lakhs in H1 FY26, making this a high-risk, distressed counterparty despite the holding company's continued backing.