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Awaiting price reaction for this filing.
IMEC Services Limited's board (meeting on Feb 14, 2026) approved the unaudited standalone financial results for the quarter and nine months ended December 31, 2025, which were subjected to a limited review by statutory auditors SCAN & Co. The auditor included an 'Emphasis of Matter' noting a significant reduction in revenue versus the prior year because large service contracts had been completed earlier. The auditor also flagged that Rs 19.57 crores of trade receivables remain unrealised (only Rs 1 crore collected in the past 9 months), linked to a 2023 contract, and that professional fees of Rs 67.69 lakhs were incurred against revenue of just Rs 22.44 lakhs for the period. Separately, the board accepted the resignation of Company Secretary & Compliance Officer Mr. Adnan Kanchwala (effective March 2, 2026), who is leaving to pursue another career opportunity.
The sharp revenue fall combined with Rs 19.57 crore of stuck receivables raises serious concerns about earnings visibility and collection risk, which is likely negative for stock sentiment. The Company Secretary exit is routine but adds a small governance overhang until a replacement is appointed.