Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India Steel Works Limited reported unaudited standalone results for Q1 FY26 (quarter ended 30 June 2025) with revenue from operations of just Rs. 1.87 lakh and total income of Rs. 13.46 lakh, posting a net loss of Rs. 147.57 lakh versus a Rs. 441.59 lakh loss in the year-ago quarter. Finance costs remained high at Rs. 59 lakh and paid-up equity is Rs. 3,980.81 lakh while other equity is deeply negative at Rs. (1,343.59) lakh. The board approved a joint venture with Lloyds Realty Developers and Smartquip Properties called LLOYDS IHL LLP, and signed a development agreement on 30 July 2025 to develop the company's Khopoli land, which has been reclassified as 'Assets Held for Sale'. The auditor (Laxmikant Kabra & Co LLP) issued an adverse limited review conclusion, flagging that operations have ceased, current liabilities exceed current assets, Kotak Mahindra Bank has taken possession of the factory, and books may not be on a going-concern basis.
This is a deeply negative filing for shareholders — the company is loss-making, its factory has been taken over by a bank, the auditor has flagged a going-concern risk and issued an adverse review, and the share value is effectively propped up only by the hope of monetising land through the new JV. Expect high stock-price volatility and serious solvency concerns.