Mcleod Russel India Limited has informed the Exchange about Voluntary Delisting
MCLEODRUSS · price
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Mcleod Russel India's board, at its meeting on 14 August 2025, approved the voluntary delisting of its equity shares from the Calcutta Stock Exchange (CSE), with the shares to continue trading on BSE and NSE which have nationwide terminals — meaning no exit offer is required for shareholders. The company also announced its Q1 FY26 results, reporting revenue from operations of Rs. 16,803 lakhs but a net loss of Rs. 4,013 lakhs (EPS of Rs. -3.84), slightly wider than the Rs. 3,643 lakh loss in Q1 FY25. The auditor (Lodha & Co LLP) issued an adverse review conclusion, flagging that Inter-Corporate Deposits of Rs. 2,86,050 lakhs given to promoter group entities are doubtful of recovery, with only Rs. 1,01,039 lakhs provided for so far. The auditor also raised a material going concern uncertainty — the company's debt of Rs. 1,46,107 lakhs (Rs. 1,03,303 lakhs already assigned to NARCL) remains under resolution, current liabilities exceed current assets, and statutory and employee dues are unpaid. The board additionally recommended re-appointment of Ms. Rupanjana De as Independent Director and appointment of M/s A. K. Labh & Co as Secretarial Auditors for 5 years.
For shareholders, the delisting from CSE is largely procedural since BSE and NSE listings remain — there is no buyback, no exit price, and no immediate cash benefit. The bigger concern is the company's deeply stressed financial position: a going concern qualification, unresolved promoter-group ICDs, and a debt resolution plan still pending with NARCL, all of which keep the stock in high-risk territory.