Mcleod Russel India Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
MCLEODRUSS · price
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Mcleod Russel India submitted its unaudited financial results for Q3 FY26 and the nine months ended December 31, 2025, along with the Limited Review Report from statutory auditor Lodha & Co LLP. Revenue from operations for Q3 stood at Rs. 39,831 lakhs versus Rs. 33,417 lakhs in Q3 FY25, but the company reported a loss before tax of Rs. 4,522 lakhs in Q3 and Rs. 9,191 lakhs for the nine months, with total comprehensive loss of Rs. 3,296 lakhs for 9M FY26. The auditor issued an adverse conclusion on both standalone and consolidated results, citing unrecoverable Inter-Corporate Deposits of Rs. 2,86,050 lakhs given to promoter group entities (with Rs. 1,01,039 lakhs already provided), unresolved statutory liabilities of Rs. 18,236 lakhs, and a new arbitration award of Rs. 50,896 lakhs. Total borrowings of around Rs. 1,46,107 lakhs have been assigned to NARCL and another ARC, with the debt resolution plan still under consideration. The company's other equity is deeply negative at Rs. (34,174) lakhs, and the auditor flagged a material uncertainty about the company's ability to continue as a going concern.
This filing carries severe red flags for shareholders — the auditor's adverse opinion, explicit going-concern uncertainty, deeply negative net worth, and a fresh Rs. 50,896 lakh arbitration award point to material solvency risk. The stock price is likely to remain under pressure until the debt resolution with NARCL/ARCs is concluded, and there is a real possibility of further value erosion if the resolution is unfavourable.