Unaudited financial results for the quater and half year ended on 30 th September, 2025 along with Limited Review report
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Manraj Housing Finance reported a net loss of Rs. 4.48 lakhs for Q2 FY26 and Rs. 38.54 lakhs for H1 FY26, reversing a profit of Rs. 41.52 lakhs in H1 FY25. Operational revenue was zero across all periods, with only minor other income of Rs. 2.04 lakhs in H1. The company's net worth is deeply negative (reserves of Rs. -526.99 lakhs), and it has defaulted on bank borrowings of Rs. 687.03 lakhs since February 2020 with Rs. 637.86 lakhs in unprovided interest. The auditor issued an Adverse Opinion, flagging that ~95% of assets are advances to related parties under ED investigation under PMLA, and ~64.8% of liabilities are unsecured loans from related parties.
This is highly negative for shareholders. The Adverse Auditor Opinion, combined with going-concern doubts, four-plus years of operational dormancy, negative net worth, and ED-attached assets essentially signals severe financial distress with material risk to shareholders' investments.