Outcome of Board meeting held on 13-08-2025
Awaiting price reaction for this filing.
Fraser and Company Limited reported virtually zero revenue of ₹0.01 million for Q1 FY26 (quarter ended June 30, 2025), with a net loss of ₹0.91 million and EPS of ₹(0.11). The auditor (AMS & Co LLP) issued a qualified review report flagging material uncertainty about the company's ability to continue as a going concern, citing accumulated losses, negligible sales, no orders in hand, and ongoing litigations. Key concerns include trade receivables of ₹96.09 million (with NCLT proceedings on ₹61.24 million and CIRP on ₹11.75 million), long-outstanding trade payables of ₹58.68 million, and recovery suits of ₹24.47 million. The Board also accepted the resignation of Independent Director Mr. Durgaprasad Dattaram Prabhu effective July 22, 2025, and reconstituted all four board committees. New management indicated plans to seek shareholder approval to change the main object clause to revive business.
This is a deeply negative filing for shareholders — the company is essentially non-operational with no revenue, persistent losses, and the auditor has explicitly flagged going concern doubts. Stock may face continued suspension risk and liquidity concerns; investors should monitor the proposed special resolution to change business objects as a potential revival trigger.