BSEIndia Homes Ltd· RealtyHighNeutral
Announced Fri, 15 May, 2026 · 19:57 IST

Integrated Financial Results for the Quarter and Year Ended 31.03.2026

Going ConcernQualified OpinionRelated Party TransactionsDebt Equity ThresholdNegative Operating CashflowResults View source PDFExplain this filing

Price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close
-3.8%Reaction day
₹22.35
prior close
₹21.50
announcement price
After-mkt
timing
Nifty Microcap 250market · in no size index; the smallest one is used-1.4%-2.4% vs market
Residential, Commercial Projects peers, median of 50sector-1.0%-2.8% vs sector

On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 2.8 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark
Stock
5m
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10m
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15m
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30m
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Sessions after the filingfrom the prior close
StockMarketvs marketSectorvs sector
Reaction day
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Next day
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2d
-4.1-0.3-3.7-1.4-2.6
3d
-5.1+0.8-5.9-0.8-4.3
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+0.0+0.9-0.9-1.3+1.3
5d
+1.6+2.5-0.9-0.8+2.4
1w
+0.4+3.1-2.7-0.4+0.8
15d
+0.2+3.5-3.2-0.2+0.5
1m
+1.8+8.0-6.1-0.6+2.5
2m
-0.9+9.3-10.2-3.3+2.4
3m
+15.4+14.0+1.5-5.8+21.2
UpDownMarket · Nifty Microcap 250Sector · Residential, Commercial Projects peers, median of 50Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

India Homes Limited (formerly India Steel Works Limited) reported total income of Rs. 2,764.52 Lakhs and net profit of Rs. 1,865.54 Lakhs for FY26, a dramatic turnaround from a loss of Rs. 1,339.35 Lakhs in FY25. The company pivoted from discontinued steel operations to real estate activities during the year. However, the auditors from Laxmikant Kabra & Co LLP issued a DISCLAIMER OF OPINION—the most severe audit outcome—citing 11 critical issues including inaccessible accounting records, improperly valued inventories of Rs. 13,696.20 Lakhs, unaudited related party transactions (including WIP from a director and credit notes), unapproved insurance receivables of Rs. 2,793.06 Lakhs, missing balance confirmations, no impairment assessments, and material weaknesses in internal controls with no internal audit function. The auditors explicitly flagged substantial doubt about the company's ability to continue as a going concern, noting current liabilities exceed current assets and operations have substantially ceased. Total financial indebtedness stands at Rs. 9,656.04 Lakhs, with defaults of Rs. 3,237.46 Lakhs (secured) and Rs. 6,418.58 Lakhs (unsecured). The company is also changing auditors to CGCA & Associates LLP.

Likely market impact

This is a highly distressed filing with a disclaimer of opinion and going concern flag. Shareholders should be extremely cautious—the financial statements carry severe reliability concerns, debt defaults are confirmed, and the company's ability to operate as a going concern is in serious doubt despite reported profits.