Un-audited financial results as on 30.09.2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Manipal Finance Corporation Ltd, at its meeting on 13 November 2025, approved un-audited financial results for Q2 FY26 (quarter ended 30 September 2025) and H1 FY26. The statutory auditor (Sriramulu Naidu & Co.) issued a qualified review report, explicitly raising going concern doubts: the company has incurred losses over many years and the majority of its funds are blocked in non-performing assets. The auditor stated it could not comment on the realisability of the company's assets or its ability to settle liabilities. For Q2 FY26, the company reported a loss of about Rs 1 lakh on total income of Rs 5.55 lakh; for H1 FY26, the loss was Rs 9.61 lakh on income of Rs 20.55 lakh, down from Rs 23.06 lakh in H1 FY25. Total equity remains deeply negative at around Rs (1,615) lakh. The company's operations are essentially limited to recovering dues and repaying legacy debts; it stopped paying interest on debentures and subordinated debt way back in July 2002.
This is a distressed NBFC with serious going concern risk. Shareholders face very high uncertainty: the auditor has qualified the results, losses continue, equity is deeply eroded, and the company's ability to continue as a going concern depends entirely on management's perception rather than verified asset values. The stock is likely to remain highly risky.