Outcome of Board Meeting
Price
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The board approved unaudited financial results for the quarter and half year ended September 30, 2025, which were given a clean limited review by statutory auditors JMT & Associates. Core trading revenue collapsed sharply, falling to Rs 15.88 lakhs in Q2 FY26 from Rs 106.69 lakhs in Q2 FY25, with H1 revenue dropping to Rs 42.42 lakhs from Rs 212.75 lakhs. The company swung to a small Q2 net loss of Rs 3.92 lakhs, though H1 FY26 still posted a net profit of Rs 167.60 lakhs helped by other income of Rs 247.26 lakhs. Operating cash flow was negative at Rs (91.87) lakhs for the half year. Separately, the board approved reclassifying promoter Ashok Metharam Bhawnani (holding 22.01% or 9.25 lakh shares) from 'Promoter/Promoter Group' to 'Public' category.
The steep revenue decline and negative operating cash flow signal weakening core business activity, while profits are being propped up by other income rather than trading operations. The exit of a 22% promoter shareholder to the public category is a significant governance/holding-structure change that may affect stock perception and promoter holding disclosures.