Out come of the Board Meeting held on 14 11 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
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.
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.