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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The Board approved unaudited standalone financial results for Q2 and half-year ended September 30, 2025, with a limited review by statutory auditors M/s NYS & Company. Revenue from operations collapsed to nil in Q2 FY26 (vs. nil in Q2 FY25 but Rs. 166.40 lakh in Q1 FY26), with H1 FY26 revenue falling to Rs. 166.40 lakh from Rs. 1,324.05 lakh in H1 FY25 — a sharp ~87% year-on-year decline. The company swung to a Q2 loss of Rs. 62.08 lakh (vs. loss of Rs. 56.54 lakh in Q2 FY24), though H1 FY26 still showed a small profit of Rs. 39.54 lakh. Other expenses surged to Rs. 91.54 lakh in H1 (largely due to assignment of loans/debtors worth Rs. 5.72 crore at Rs. 5.00 crore, booking a Rs. 72 lakh loss). Operating cash flow turned essentially flat-to-negative at Rs. -1.86 lakh versus Rs. 1,062.97 lakh last year. The Board also withdrew the proposed 51% acquisition of Mahakal Devcon Limited via share swap and the related preferential issue application.
Sharp revenue contraction, weak Q2 performance, and negative operating cash flow signal significant operational stress for shareholders. Withdrawal of the Mahakal Devcon acquisition removes a planned growth avenue, which may weigh on the stock in the short term, though it also avoids potential equity dilution from the cancelled preferential issue.