Out come of the Board Meeting held on 14 11 2025

Going-concern doubtAdverse audit opinionEmphasis of matterRevenue declinedNet loss reportedDebt to equity above the thresholdResults View source PDF Explain 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

+5.0%Reaction day

₹11.31

prior close

₹10.75

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+4.4% vs market

Residential, Commercial Projects peers, median of 49sector+0.0%+5.0% vs sector

On the reaction day the stock moved 4.4 pts more than Nifty Microcap 250 and 5.0 pts more 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

+10.4

10m

+10.3

15m

+10.0

30m

+7.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+5.0+0.6+4.4+0.0+5.0

Next day

+5.6-0.2+5.8-0.3+5.9

-0.4-0.4+0.0-0.9+0.5

+4.6-0.7+5.3-0.2+4.8

-2.8-2.2-0.6-0.3-2.5

-7.6-2.8-4.8-2.6-5.0

-5.7-1.4-4.2-2.9-2.7

15d

-11.2-7.0-4.2-5.4-5.8

+8.3-6.1+14.4-3.1+11.4

+20.3-9.2+29.6-7.7+28.0

+27.7-6.8+34.5-7.0+34.7

UpDownMarket · Nifty Microcap 250Sector · Residential, Commercial Projects peers, median of 49Pending

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

AI summary

India Homes Ltd (formerly India Steel Works Ltd) reported unaudited results for the quarter and half year ended 30 September 2025. Revenue from operations is essentially nil (₹0.75 lakhs in H1 FY25, nothing in current period), as steel operations have ceased. Total income for H1 FY26 was ₹25.40 lakhs versus ₹66.20 lakhs in H1 FY25. The company posted a net loss of about ₹46.25 lakhs for the half year (versus a loss of ₹666.18 lakhs in H1 FY25). The auditor (Laxmikant Kabra & Co LLP) issued an adverse conclusion, flagging a material uncertainty on going concern, ₹13,532 lakhs of inventory mostly worth only scrap value, an unapproved insurance claim of ₹2,187 lakhs, no internal audit, no impairment assessment, and no physical verification of stock. The company has fully settled its dues to Kotak Mahindra Bank and is repositioning towards real estate, but no real estate operations have commenced yet. Other equity is negative at ₹(1,806) lakhs.

Likely market impact

This is materially negative for shareholders. The auditor's adverse conclusion and going-concern doubt mean the company's survival is uncertain, asset values may be overstated, and the stock is likely to face sharp negative pressure. Until real estate operations begin generating revenue, the company has no clear path to profitability.