This is to inform you that the Board of Directors of IITL Projects Limited at its meeting held today i.e. Friday, May 22, 2026, has inter alia considered and approved the following: 1. ....
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IITL Projects Ltd reported annual standalone FY2026 results with total income of Rs. 180.81 lakh (down from Rs. 235 lakh in FY2025). Net profit after tax stood at Rs. 125.23 lakh versus Rs. 3,147.12 lakh in the prior year (prior year included a Rs. 3,506.85 lakh exceptional item from impairment reversal). The company disclosed that accumulated losses of Rs. 523.76 lakh exceed paid-up capital, net worth is fully eroded, and total liabilities exceed total assets. Critically, the company states it "ceases to be a Going Concern" as it has no business of its own and no cash flows from operations. Cash and cash equivalents dropped sharply from Rs. 63.47 lakh to Rs. 8.95 lakh. Negative operating cash flow was Rs. 190.48 lakh. The Board also approved entering new lines of business (brokerage services, construction consultancy, project management) and reappointed the internal auditor.
The stock faces extreme risk as the company has acknowledged it is no longer a going concern with negative equity and no operating business. The clean audit opinion with unmodified view is notable given the going concern disclosure. Shareholders should be aware that the company is essentially dormant and pivoting to new businesses with zero estimated investment.