Outcome of Board Meeting
Awaiting price reaction for this filing.
The Board approved unaudited results showing zero revenue from operations in both Q2 and H1 FY26, while the company continues to post losses — a net loss of Rs 35.99 lakhs in Q2 FY26 and Rs 66.89 lakhs for H1 FY26 (wider than Rs 60.80 lakhs loss in H1 FY25). Finance costs jumped to Rs 50.51 lakhs in H1 FY26 from Rs 34.98 lakhs a year ago, as long-term borrowings ballooned to Rs 129.83 crores from Rs 82.75 crores at March 2025. Accumulated losses in reserves & surplus have ballooned to negative Rs 197.51 crores, wiping out the equity base many times over. Cash flow from operations was deeply negative at Rs 470.91 lakhs, with the company entirely reliant on borrowings (including related-party loans from directors and group entities) to fund even its minimal expenses.
This is a financially distressed company with no operating revenue, continuous losses, and a deeply negative net worth — a clear going concern risk. Existing shareholders face a highly uncertain outlook, and the stock should be treated as a high-risk, essentially non-operating entity until revenues resume.