Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their Meeting ....
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Ikoma Technologies reported nil revenue from operations in Q2 FY26 (vs nil in Q2 FY25), with the entire H1 FY26 revenue coming from Q1 at Rs. 166.40 lakh, down sharply from Rs. 1,324.05 lakh in H1 FY25 (a drop of about 87%). The company posted a Q2 loss after tax of Rs. 62.08 lakh, though H1 FY26 remained marginally profitable at Rs. 39.54 lakh (vs Rs. 332.83 lakh in H1 FY25). EPS for H1 FY26 stood at Rs. 0.17 (down from Rs. 1.43). The Board also withdrew its planned 51% acquisition of Mahakal Devcon Limited via share swap and the related preferential issue application. During the quarter, the company assigned loans, debtors and payables of Rs. 5.72 crore (net) for Rs. 5 crore, booking a loss on the assignment. Reserves remain negative at Rs. (1,339.34) lakh, and operating cash flow turned negative at Rs. (1.86) lakh in H1 FY26 compared to a positive Rs. 1,062.97 lakh a year ago. The statutory auditor flagged that sundry balances are subject to confirmation and were not reviewed.
Shareholders face a deeply weakened operating profile - revenue has collapsed, the company is burning cash, and reserves are in deficit, raising concerns about business continuity and growth direction. The withdrawal of the Mahakal Devcon acquisition removes a potential growth lever, and the loss on asset assignment signals further balance sheet erosion, all of which are negative for the stock.