Outcome of Board Meeting held on 14th November, 2025
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The Board of Directors of National General Industries Ltd approved the un-audited financial results for the quarter and half year ended 30th September 2025. The company also forfeited 10,47,600 partly paid-up equity shares (face value Rs. 10 each) due to non-payment of balance allotment money by shareholders, after multiple reminders. For Q2 FY26, total income from operations stood at Rs. 254.22 lakhs (vs Rs. 255.54 lakhs in Q2 FY25), while the company reported a net loss of Rs. 20.86 lakhs compared to a profit of Rs. 25.67 lakhs in the same quarter last year. For H1 FY26, revenue declined to Rs. 451.08 lakhs from Rs. 570.49 lakhs, with a net loss of Rs. 46.09 lakhs versus a profit of Rs. 42.62 lakhs in H1 FY25. Operating cash flow for H1 FY26 was negative at Rs. (137.15) lakhs.
The shift from profit to loss in both Q2 and H1 FY26, along with a roughly 21% revenue decline and negative operating cash flow, signals operational weakness in the core steel business. Shareholders should note the Rs. 10.47 lakh share forfeiture may reduce paid-up capital marginally but mainly reflects non-payment by certain allottees; the weak financials could weigh on sentiment.