PFA
Awaiting price reaction for this filing.
Bharatiya Global Infomedia Limited reported unaudited results for the quarter and nine months ended December 31, 2025. Standalone revenue from operations was effectively nil for the nine months (Rs 0.00 lakhs) versus Rs 27.25 lakhs in the prior full year, indicating a near-total collapse in operating business. The company posted a standalone operating loss of Rs 85.20 lakhs and a consolidated operating loss of Rs 136.64 lakhs for 9M FY26, but reported a 'profit' of Rs 124.72 lakhs (standalone) and Rs 73.28 lakhs (consolidated) only because of a large deferred tax credit of Rs 209.92 lakhs. The statutory auditor issued a Limited Review Report with a clear Emphasis of Matter paragraph flagging: (1) non-provision of Rs 5.40 crore in inter-corporate deposits, (2) non-provision of a Rs 6 crore SEBI penalty, (3) no CFO since May 2018, (4) annual returns not filed for seven consecutive years (FY2018-19 through FY2024-25), (5) irregular payment of statutory dues, (6) irregular filing of GST and TDS returns, and (7) unreconciled debtors and creditors.
The reported 'profit' is purely an accounting effect from deferred tax; underlying operations are loss-making with virtually no revenue. Combined with serious governance, compliance, and contingent liability issues (over Rs 11 crore in unprovided exposures), this is a high-risk situation for shareholders. The stock is likely to be viewed negatively, and the gaps disclosed by the auditor could trigger further regulatory scrutiny.