Outcome of Board Meeting held on 14th February, 2026
Awaiting price reaction for this filing.
The Board approved the unaudited financial results for the quarter and nine months ended December 31, 2025. Revenue from operations for Q3 FY26 stood at Rs. 484.76 lacs, marginally higher than Rs. 480.76 lacs in Q3 FY25, with total revenue at Rs. 499.91 lacs. The company posted a net loss of Rs. 89.77 lacs for the quarter, narrower than Rs. 131.82 lacs in Q3 FY25, but the nine-month loss widened sharply to Rs. 582.29 lacs (from Rs. 379.62 lacs last year). The statutory auditor issued a qualified opinion, flagging non-recognition of interest on preference shares, borrowings, and non-fair-value adjustments totaling over Rs. 570 lacs YTD. The auditor also flagged material going-concern uncertainty, noting the company's net worth is fully eroded with a negative net worth of Rs. 7,221.20 lacs, and that its BIFR exit scheme (u/s 230-232) is still awaiting approvals. An exceptional item of Rs. 155.31 lacs represents court-ordered compensation paid to a supplier.
This is a deeply negative filing for shareholders — the auditor has qualified the results, raised a material going-concern flag, and the company's net worth is fully wiped out, meaning long-term solvency is at serious risk. Despite a slight quarter-on-quarter improvement in losses, the nine-month loss has worsened materially and the unresolved BIFR scheme adds uncertainty around debt waivers and future viability. The stock is likely to face continued selling pressure.