Pursuant to Reg 33(3) of SEBI (LODR) the unaudited financials Results of the Company for the quarter ended 30.06.2025 was approved by Board in Meeting helf on 17.07.2025.
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Awaiting price reaction for this filing.
Ind Bank Housing Ltd, a subsidiary of Indian Bank, submitted its unaudited results for Q1 FY26 showing zero revenue from operations and a net loss of Rs. 10.91 lakhs versus a loss of Rs. 11.92 lakhs in the same quarter last year. The only income was Rs. 6.23 lakhs from other sources, while total expenses stood at Rs. 17.14 lakhs, mainly employee costs of Rs. 6.10 lakhs. The auditor flagged a major disclosure: RBI cancelled the company's Housing Finance registration in September 2023, and the Board has in-principle approved winding up the company. Paid-up equity is Rs. 10 crore but reserves are deeply negative at minus Rs. 130.87 crore.
This is a stressed, non-operating company heading towards wind-up with fully eroded net worth, making the stock highly risky for shareholders. The Indian Bank parentage may offer some comfort, but recovery prospects look bleak given the negative reserves and pending shareholder/regulatory approvals for closure.