Outcome of Board Meeting held on November 14, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.6 pts less than Nifty Microcap 250 and 5.0 pts less than its Industrial Minerals 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.
The board approved unaudited standalone results for Q2 and H1 FY26 (ended September 30, 2025). Total income for H1 FY26 was ₹29.44 lakhs, down from ₹35.81 lakhs in the prior year period. The company swung to a loss before tax of ₹99.94 lakhs for H1 FY26, compared to a marginal profit of ₹0.02 lakhs in H1 FY25. Total expenses spiked sharply to ₹99.94 lakhs from ₹29.42 lakhs, driven by a sharp rise in 'other expenses'. Operating cash flow turned sharply negative at ₹(89.46) lakhs versus ₹24.78 lakhs in H1 FY25. Separately, the board withdrew its previously approved preferential issue of 7.38 crore equity shares at ₹28 each (roughly ₹207 crore), citing investor backing out due to delayed approvals, market volatility, and a decline in the share price. The company stated this withdrawal will not affect its operations or financial stability.
The cancelled preferential issue removes a potential ~₹207 crore capital-raising avenue, signaling weak investor appetite and difficulty in funding. Deepening losses, a sharply negative operating cash flow, and already negative other equity of ₹(427.76) lakhs raise red flags about near-term financial health, despite management's assurance of stability.