Outcome of the Board Meeting held today - Q3 Results
Awaiting price reaction for this filing.
Neueon Corporation, which emerged from Corporate Insolvency Resolution Process (CIRP) in October 2024 under a new promoter consortium led by Preca Solutions, reported Q3 FY26 revenue from operations of Rs. 122.34 lakhs, up sharply from just Rs. 1.21 lakhs in Q3 FY25 (9M FY26 revenue at Rs. 980.21 lakhs vs Rs. 5.84 lakhs last year). Despite this top-line uptick, the company posted a net loss of Rs. 879.76 lakhs for the quarter, though this was a significant improvement from the Rs. 8,890.55 lakhs loss in Q2 FY26. The 9-month loss stood at Rs. 11,978.65 lakhs. Q3 results include an exceptional item of Rs. 5,752.70 lakhs and a negative 'other expenses' figure of Rs. 6,577.46 lakhs, likely reflecting write-backs. The statutory auditor issued a qualified review report citing non-conduct of impairment testing on assets despite indicators like negative net worth and underutilised assets, and added an emphasis matter on the status of the Resolution Plan implementation.
Shareholders should note the qualified auditor opinion, persistent losses, and negative net worth as material risk factors, even though revenue has shown a sharp rebound from a very low base. The stock may see mixed sentiment — relief on narrowing quarterly losses and revenue traction post-CIRP, but caution due to the auditor's qualifications and ongoing going-concern-related indicators.