Mcleod Russel India Limited has informed the Exchange regarding Board meeting held on August 14, 2025.
MCLEODRUSS · price
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Mcleod Russel India Limited announced the outcome of its August 14, 2025 board meeting, including approval of unaudited Q1 FY26 (quarter ended June 30, 2025) results. Revenue from operations stood at Rs. 16,803 lakhs versus Rs. 15,080 lakhs in the same quarter last year, while the company posted a net loss of Rs. 4,013 lakhs (EPS of Rs. -3.84) versus a loss of Rs. 3,643 lakhs in Q1 FY25. The statutory auditor Lodha & Co LLP issued an adverse conclusion on both standalone and consolidated results, flagging that the company's current liabilities exceed its current assets, that there is 'material uncertainty about the company's ability to continue as a going concern,' and that inter-corporate deposits of Rs. 2,86,050 lakhs given to promoter group entities are doubtful of recovery. The board also approved voluntary delisting from the Calcutta Stock Exchange (shares will remain listed on BSE and NSE), recommended re-appointment of Independent Director Ms. Rupanjana De for a second three-year term, and appointed A.K. Labh & Co as Secretarial Auditors for five years.
This is a very negative filing for shareholders. The auditor's adverse opinion and the explicit going-concern warning indicate serious solvency concerns, with negative other equity of Rs. 34,174 lakhs and borrowings of Rs. 1,46,107 lakhs awaiting lender resolution via NARCL. The company's stock is likely to face significant pressure as the market digests the scale of unresolved promoter-related loans, mounting statutory dues, and the possibility of further losses or restructuring.