Unaudited Financial Results along with Limited Review Report for Quarter and Half Year Ended September 30, 2025
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Newtime Infrastructure reported Q2 FY26 standalone net revenue of Rs. 70 lakh, nearly half of Rs. 150 lakh in Q2 FY25, and continued to post losses with a standalone H1 FY26 net loss of Rs. 41.61 lakh (consolidated H1 loss of Rs. 134.33 lakh). The auditor, M/s Chatterjee & Chatterjee, issued an unmodified review report but flagged an 'Emphasis of Matter' on pending reconciliation of trade payables/receivables and on the Enforcement Directorate's provisional attachment of the company's properties under PMLA, 2002 (the financial impact of which is not ascertainable). The auditor also highlighted a material going-concern uncertainty at subsidiary Aertha Luxury Homes, where accumulated losses of Rs. 182.29 lakh have eroded net worth. Independent Director Mr. Sanjay Sharma resigned and was replaced by Mr. Mahir Bhadani (age 26, B.Com) as Additional Non-Executive Independent Director for a five-year term; Audit Committee and other committees were reconstituted accordingly. Separately, 1.36 crore convertible warrants lapsed during the quarter (their subscription money was forfeited), and the conversion of redeemable preference shares into CCPS remains pending regulatory approvals.
Sustained losses, a ~50% YoY revenue drop, and the ED attachment on group assets point to ongoing operational and governance stress, while the auditor's going-concern flag at a subsidiary raises additional risk for shareholders.