Outcome of the Board Meeting Held on 14.08.2025 to approve the Q1 unaudited results
Awaiting price reaction for this filing.
The board approved the unaudited financial results for Q1 FY26 (quarter ended 30 June 2025). The company reported a total comprehensive loss of approximately Rs. 1,843.36 lakhs compared to a loss of Rs. 52.30 lakhs in the previous quarter, with EPS of Rs. (15.79). Revenue from operations is effectively zero as the company's business activities remain closed. The statutory auditor (VRAJM & Associates) issued an Adverse Opinion, stating the company cannot be treated as a Going Concern, has negative net-worth, severe liquidity constraints, and has defaulted on bank loans — with Axis Bank having already taken possession and sold all fixed assets and stock under the SARFAESI Act.
This is an extremely negative filing for shareholders. The auditor's Adverse Opinion combined with a Going Concern failure means the company is essentially non-operational, wiped out financially, and lenders have already seized its assets. Shareholders face a very high risk of total loss; the stock is likely to see sharp negative reaction and continued downward pressure.