Outcome of Board Meeting dated 13th February, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved unaudited standalone and consolidated financial results for Q3 FY26 and the nine months ended 31 December 2025. Standalone revenue from operations collapsed to just Rs. 33.46 lakhs in Q3 (vs Rs. 77.85 lakhs in Q2), with total income for 9M FY26 at only Rs. 94.31 lakhs versus Rs. 728.67 lakhs for the full FY25, reflecting a severe business decline. The company swung to a standalone loss of Rs. 59.11 lakhs for 9M FY26 (from a profit of Rs. 9.50 lakhs in 9M FY25) and a consolidated loss of Rs. 102.53 lakhs (vs profit of Rs. 67.36 lakhs). The auditor issued a qualified conclusion noting Rs. 94.03 lakhs of interest income not accrued on loans to its distressed subsidiary Minal Infojewels, flagged a material uncertainty related to going concern given accumulated standalone losses of Rs. 2,137.94 lakhs and group losses of Rs. 638.30 lakhs, and highlighted a Rs. 600 lakhs impairment provision on the subsidiary's equity investment.
This is materially negative for shareholders — the business is loss-making at both standalone and consolidated levels, the auditor has red-flagged going concern uncertainty and issued a qualified opinion, and the subsidiary exposure is being written down, all pointing to a stressed financial position with no near-term profitability in sight.