The Board at its meeting held on 24th January, 2026, has inter-alia considered and approved the following: 1. Unaudited Standalone Financial Results for the third quarter ended 31st ....
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Awaiting price reaction for this filing.
The board approved unaudited standalone results for Q3 FY26 and 9M FY26. Total income for Q3 FY26 was Rs. 76.12 lakhs (vs Rs. 29.00 lakhs in Q3 FY25), but the company posted a loss of Rs. 352.94 lakhs for the quarter and Rs. 449.01 lakhs for 9M FY26. The auditor flagged a 'Material Uncertainty Related to Going Concern' as total liabilities exceed total assets, giving a negative net worth of Rs. 3,242.91 lakhs. An additional impairment loss of Rs. 332.64 lakhs was booked this quarter on plant and machinery (following Rs. 1,933.88 lakhs impaired in FY25). The auditor also noted related-party concerns: the company used part of a Rs. 1,100 lakhs customer advance to repay a related-party NBFC and extended an inter-corporate deposit of Rs. 823.62 lakhs to the same entity without shareholder approval as required under Section 186(2). Unredeemed 11% preference shares (overdue since September 2000) and unpaid redemption premium of Rs. 2,665.97 lakhs on 0% preference shares remain unresolved.
Severely negative for shareholders: the company is loss-making with deeply negative net worth, and the auditor has explicitly raised a going-concern doubt. Combined with the related-party ICD issue and repeated asset impairments, this is a high-risk small-cap stock with serious solvency and governance red flags.