The Board of Directors, at its meeting held on 26/02/2026, inter alia, approved the following: 1. Unaudited Results for the quarter and half year ended 30/09/2025 and for the quarter ....
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Awaiting price reaction for this filing.
The Board approved unaudited results for the quarter and half-year ended 30 Sep 2025 and the quarter and nine months ended 31 Dec 2025. Revenue from operations grew to about Rs 22,101 lakhs in H1 FY26 and Rs 32,083 lakhs in 9M FY26, a strong jump from the prior-year period. However, the company slipped into a loss of about Rs 1,777 lakhs for 9M FY26 (vs a profit in the prior year), while H1 FY26 showed a small profit of Rs 115 lakhs boosted by a one-time exceptional gain of about Rs 798 lakhs. Cash flow from operations turned sharply negative at about Rs (278) lakhs in H1 FY26 versus a positive Rs 2,623 lakhs a year ago. The statutory auditor MNRS & Associates issued a qualified opinion on both sets of results, flagging that the company disposed of its plant and equipment to lender Shree Balaji Steel and Metal on 1 Aug 2025 after an event of default under a settlement agreement, and that interest on certain borrowings has not been recognized in the books.
This is a clearly negative filing for shareholders: a qualified audit opinion, evidence of a debt default with forced asset sale to a lender, collapsing operating cash flow, and a 9-month loss signal serious financial stress. The stock may see downward pressure and investors should watch for any further disclosures on the debt situation, potential further asset disposals, and the missing interest recognition.