as per the pdf attached

Emphasis Of MatterRevenue Growth 20pctPat NegativeNegative Operating CashflowResults View source PDF Explain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.7%Reaction day

₹23.40

prior close

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announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-2.1% vs market

Residential, Commercial Projects peers, median of 53sector-0.1%-1.6% vs sector

On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250 and 1.6 pts less than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.7+0.4-2.1-0.1-1.6

Next day

+2.6+0.0+2.5-0.2+2.7

+6.8-0.2+7.0+0.7+6.1

+11.1+0.7+10.4-0.5+11.6

+14.3+0.6+13.7+0.0+14.3

+11.1+0.5+10.6-0.4+11.6

+18.7+0.3+18.4-1.3+20.0

15d

+36.5-1.5+38.0-5.2+41.8

+31.2-6.6+37.7-7.8+39.0

+96.6-3.2+99.7-5.3+101.8

+75.9-5.2+81.1-10.4+86.3

UpDownMarket · Nifty Microcap 250Sector · Residential, Commercial Projects peers, median of 53Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Mega Nirman reported its first meaningful operational revenue, with Q2 FY26 revenue from operations at ₹456.12 lakh and half-year revenue at ₹521.30 lakh, compared to nil in H1 FY25. However, the company slipped deeper into loss, posting a net loss of ₹27.12 lakh for H1 FY26 versus a ₹7.60 lakh loss a year ago. The Board also approved a Rights Issue of equity shares worth up to ₹50 crore and noted a proposal to invest in Rudraveerya Developers for an Industrial/Residential Township project in Jhajjar, Haryana (total commitment ₹220 crore). The auditor flagged an Emphasis of Matter on ₹25.09 crore received from share warrant conversions, of which ₹23.30 crore has been deployed as project advances to Rudraveerya Developers. Equity share capital jumped from ₹334.75 lakh to ₹2,564.75 lakh following warrant conversions, and operating cash flow was deeply negative at ₹(2,598.71) lakh for the half-year.

Likely market impact

Mixed picture for shareholders – revenue has kicked in but losses are widening, and the company is committing to a ₹220 crore real estate project funded largely by fresh equity, which could significantly dilute existing holders. The pending Rights Issue of up to ₹50 crore and the auditor's Emphasis of Matter on the use of warrant proceeds warrant close attention before the next board meeting.