Outcome of the Board Meeting held on 15.05.2026 and Submission of Audited Financial Results for the Quarter Ended 31.03.2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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.
Minute windows have no benchmark: there is no intraday index history to compare against.
India Homes Limited (formerly India Steel Works Limited) reported audited financial results for FY26 with total income of Rs 2,764.52 Lakhs and net profit of Rs 1,865.54 Lakhs, a significant turnaround from loss of Rs 1,339.35 Lakhs in FY25. However, the statutory auditors Laxmikant Kabra & Co LLP issued a DISCLAIMER of opinion citing inability to access accounting records, inventory valuation issues (Rs 13,696.20 Lakhs not valued at lower of cost and NRV), related party transaction concerns, and lack of internal audit system. The auditors explicitly raised going concern doubts citing current liabilities exceeding current assets, substantially ceased operations, and severe financial constraints. The company also disclosed 100% debt default of Rs 9,656.04 Lakhs. The Board approved appointment of new auditors CGCA & Associates LLP for 5 years.
This is a highly concerning filing with auditors issuing disclaimer of opinion, massive debt defaults, and going concern doubts. Shareholders should be extremely cautious as the financial statements lack credibility due to multiple audit exceptions and the company is effectively in financial distress despite reported profits.