Pursuant to Regulation 30 and 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015 (as amended), the meeting of the Board of Directors of the Company held on Tuesday, ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Infronics Systems' board met on November 11, 2025 and approved its unaudited results for Q2 FY26 (quarter ended Sept 30, 2025). Revenue from operations was virtually nil at ₹0.20 lakh for the quarter (vs. ₹45.73 lakh in H1 FY25), and the company posted a loss of ₹21.44 lakh for the quarter, widening from a loss in the prior periods. The statutory auditor (R. Subramanian and Company LLP) issued a Limited Review Report with a 'Qualified Conclusion' because of a ₹12.05 crore demand notice from M/s Mudunuru Limited for alleged pro-forma invoices, which the company is contesting with legal opinion. The auditor also flagged a 'Material Uncertainty Related to Going Concern,' noting that the company's main BSNL SMS services contract ended last year and it is not currently generating any revenue from operations, though it holds cash balances of ₹284.06 lakh. Management has responded stating the results are still prepared on a going-concern basis, that no provision is required for the disputed Mudunuru claim (treated as a contingent liability), and that it is exploring new technology product development.
Negative for shareholders – the company has no operating revenue, is loss-making, carries a large disputed contingent liability of ~₹12 crore against net other equity of negative ₹497 lakh, and the auditor has explicitly questioned its ability to continue as a going concern. The stock may face pressure and remains a high-risk, speculative bet pending resolution of the Mudunuru dispute and revival of business operations.