This is to inform you that the Board of Directors of the Company at their meeting held today i.e. Tuesday, February 03, 2026, has inter alia considered and approved the Unaudited Standalone ....
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On the reaction day the stock moved 3.0 pts more than Nifty Microcap 250 and 3.6 pts more than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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IITL Projects' board approved Q3 and 9M FY26 standalone results showing zero revenue from operations and total income of Rs.43.30 lakhs in Q3 and Rs.135.07 lakhs for 9M FY26 (almost entirely from other income). The company swung to a net profit of Rs.63.50 lakhs in Q3 and Rs.105.76 lakhs for 9M FY26, versus losses of Rs.120.79 lakhs and Rs.354.60 lakhs a year ago, aided by a Rs.40 lakh reversal of earlier impairment following the sale of its preference shares in joint venture Capital Infra Projects. Critically, the company disclosed that accumulated losses of Rs.543.19 lakhs have fully eroded its net worth, total liabilities exceed total assets, and it has no business of its own or cash flows — declaring itself no longer a 'going concern.' The statutory auditor also specifically drew attention to this as an emphasis of matter in the limited review report, though the report itself is unmodified. Additionally, the redemption period for 70 lakh 0% non-convertible preference shares held by parent Industrial Investment Trust Ltd was extended to March 31, 2028.
This is a severe red flag for shareholders — despite the headline profit, the company is effectively a non-operational shell with fully eroded net worth and has formally abandoned the going concern assumption, meaning its long-term viability is in serious doubt. The stock should be considered very high risk until there is clarity on revival plans, asset sales, or restructuring.