Declaration of Financial Results for Q2 and Six months ended 30th September 2025
IL&FSENGG · price
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IL&FS Engineering and Construction Company Ltd declared its Q2 and H1 FY26 results on November 14, 2025. Standalone revenue from operations fell sharply to Rs. 4,122 lakhs in Q2 (vs Rs. 6,589 lakhs a year ago) and to Rs. 9,575 lakhs for H1 (vs Rs. 15,141 lakhs). The company reported a narrower net loss of Rs. 177 lakhs for Q2 and Rs. 1,072 lakhs for H1 FY26, helped by an exceptional item credit. However, accumulated losses have ballooned to Rs. 3,61,156 lakhs, net worth is fully eroded, and current liabilities exceed current assets by Rs. 3,85,192 lakhs. The auditor flagged a material uncertainty on going concern, ongoing SFIO/ED investigations into the IL&FS group, unconfirmed lender/customer balances totalling over Rs. 7,800 lakhs, and qualified the consolidated review because results of overseas subsidiary Maytas Infra Saudi Arabia were excluded. Interest expense of Rs. 22,907 lakhs was not recognised for H1 (cumulative Rs. 2,84,896 lakhs) per the NCLAT resolution framework. Operating cash flow was negative at Rs. 1,996 lakhs. Total borrowings stand at Rs. 2,62,776 lakhs, including Rs. 2,04,707 lakhs owed to promoter group entities.
The company remains deeply distressed and entirely dependent on the IL&FS group resolution process for survival — share price reflects extreme risk with no operational recovery visible. Shareholders face continued uncertainty from investigations, eroded net worth, unresolved debt of over Rs. 2.6 lakh lakhs, and the lack of fresh business, making this a high-risk, speculative holding.