Attached outcome of board meeting held on November 12, 2025 to consider and approved unaudited standalone financial results for the quarter and half year ended on September 30, 2025
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Mahasagar Travels' board, at its meeting on November 12, 2025, approved unaudited standalone financial results for Q2 FY26 and H1 FY26 (ended September 30, 2025). Net sales from operations stood at Rs 601.33 lacs in Q2 FY26 vs Rs 599.90 lacs in Q2 FY25 (roughly flat), while H1 FY26 revenue was Rs 1,349.14 lacs versus Rs 1,350.55 lacs in H1 FY25 — essentially no growth. The company reported a loss after tax of Rs 59.15 lacs in Q2 FY26 (vs a profit of Rs 15.88 lacs in Q1 FY26), making H1 FY26 net loss of Rs 43.27 lacs, although this was an improvement over the H1 FY25 loss of Rs 61.81 lacs. Total equity is negative at Rs (18.03) lacs as of September 30, 2025, with accumulated losses in reserves of Rs 804.38 lacs, and total borrowings have surged to Rs 1,185.88 lacs (from Rs 413.96 lacs in March 2025). The auditor (B H Advani & Associates) issued a clean limited review report with no qualifications.
Shareholders should note serious red flags: the company has negative net worth, mounting losses, and a sharp rise in borrowings (nearly 3x in six months), suggesting financial stress and potential going concern issues. Despite stable top-line, persistent losses and reliance on debt funding are negative signals for the stock and raise questions about long-term viability.