Outcome of Board Meeting to consider and approve unaudited standalone financial results of the Company for the quarter and half year ended September 30, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board, meeting on November 14, 2025, approved the unaudited standalone results for the quarter and half year ended September 30, 2025. Revenue from operations collapsed to Rs 21.54 lakhs in H1 FY26 versus Rs 132.46 lakhs a year earlier, with Q2 revenue at just Rs 0.59 lakhs versus Rs 115.95 lakhs — a roughly 84% drop attributed by the auditor to completion of certain large service contracts last year. The company swung from a profit of Rs 2,541.95 lakhs to a net loss of Rs 75.51 lakhs in H1, with basic/diluted EPS at Rs (4.03). The statutory auditor SCAN & Co. (formerly M.S. Singhatwadia & Co., same FRN 113954W) issued an Emphasis of Matter flagging three concerns: huge revenue drop, Rs 44.33 lakhs in professional fees that could not be correlated with Rs 21.54 lakhs of revenue, and Rs 20.40 crores unrealised from a 2023 contract of which only Rs 15 lakhs was collected over the past nine months. Net operating cash flow turned sharply negative at Rs (454.91) lakhs versus Rs 862.61 lakhs in the prior period.
The combination of collapsing revenue, a swing to losses, deeply negative operating cash flow and the auditor's flag on Rs 20.40 crore of unrealised receivables is a clear red flag for shareholders; the stock is likely to remain under pressure until visibility on the recovery of those receivables and a return to revenue growth improves. The limited review conclusion itself remained unqualified, but the Emphasis of Matter paragraph warrants close monitoring.