We hereby submit the un-audited financial statement (standalone and Consolidated) for the second quarter and half year ended 30th September 2025, along with Limited Review Report of Statutory Auditor.
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IndiaNivesh Limited reported weak Q2 FY26 results with standalone revenue of Rs. 32.41 lakhs (vs Rs. 68.05 lakhs in Q2 FY25) and a near-zero profit after tax of Rs. 0.06 lakhs. For the half-year, standalone revenue fell 71% to Rs. 64.96 lakhs from Rs. 227.90 lakhs a year ago, while PAT dropped to Rs. 17.55 lakhs from Rs. 202.98 lakhs. The statutory auditor (Ajay Shobha & Co.) issued a qualified opinion, flagging non-provisioning of interest on two loans totalling ~Rs. 132.55 crores, which would have increased losses by Rs. 5.09 crores. The consolidated report also flagged Rs. 20.36 crores of goodwill in subsidiary INSSPL where no impairment test was done. The company's standalone and consolidated networth is eroded (other equity at Rs. -55.78 crores) and management flagged going-concern support. Operating cash flow for H1 FY26 was negative at Rs. -99.91 lakhs against a small positive last year. Comparative period figures were reviewed by predecessor auditors, indicating an auditor change.
The qualified audit opinion, going-concern flag, eroded networth, and 70%+ revenue collapse are negative signals for shareholders. With borrowings of Rs. 132.55 crores against negative standalone equity, the company is heavily leveraged and dependent on promoter fund infusion. Stock may see downward pressure and remains a high-risk micro-cap.