Outcome of the Board Meeting held on Tuesday, 12th August, 2025
Price
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Awaiting price reaction for this filing.
Modulex Construction Technologies reported nil revenue from operations for Q1 FY26 on a standalone basis, with total income of just ₹41.50 lakhs (mainly other income), down from ₹4.24 lakhs in Q1 FY25. Standalone net loss narrowed slightly to ₹32.37 lakhs versus ₹37.31 lakhs a year ago. On a consolidated basis, the company swung from a profit of ₹1,118.06 lakhs in Q1 FY25 to a loss of ₹418.12 lakhs in Q1 FY26, as other income collapsed from ₹1,282.60 lakhs to ₹3.95 lakhs. The auditor flagged material uncertainty about the company's ability to continue as a going concern, noting current liabilities exceed current assets at both the holding company and its subsidiary MMBPL. The auditor also highlighted unpaid TDS of ₹52.17 lakhs and GST under RCM of ₹29.45 lakhs at the standalone level, plus a contingent liability of ₹62.15 lakhs from a former independent director's fee dispute. The company has received ₹3,198.11 lakhs so far from the preferential convertible warrant issue of ₹6,292.49 lakhs, and promoters have committed continued financial support.
Despite the slightly improved standalone loss, the company remains financially fragile with zero operating revenue, negative net worth at the subsidiary level, and an explicit going-concern warning from auditors. Shareholders should note the high dependence on promoter support and successful commercial production starting at the Indapur project in Q2 FY26, without which the business outlook remains uncertain.