Submission of Unaudited Financial Results for the Quarter and Nine Months ended on 31st December, 2025
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Panther Industrial Products Ltd reported zero revenue for the nine months ended December 2025, as explicitly noted by the statutory auditor. The company continued to post losses, with profit before tax showing negative figures across the quarter and nine-month period. The balance sheet shows total assets of ₹851.47 lakhs, but reserves and surplus are deeply negative at -₹33.80 lakhs (worsening from -₹18.85 lakhs in March 2025), meaning accumulated losses now exceed share capital. Long-term borrowings stand at ₹742.06 lakhs against a thin equity base of around ₹106 lakhs, indicating very high leverage, and cash and cash equivalents are just ₹1.69 lakhs. The auditor mentioned that management has provided written confirmation that revenue is expected to be generated by the end of the financial year, but no business activity is visible so far.
This is a significant red flag for shareholders — the company is effectively non-operating with zero revenue, mounting losses, negative reserves, extreme debt levels, and minimal cash. Without a near-term revival in business and revenue, there is a real going-concern risk that could weigh heavily on the stock and shareholder value.