Please find attached the outcome of Board Meeting held on August 12, 2025.
Awaiting price reaction for this filing.
The Board of Melstar Information Technologies approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). The company reported zero revenue from operations and zero other income, with a standalone loss before tax of Rs. 44.26 lakhs (vs Rs. 62.63 lakhs loss in Q4 FY25) and a consolidated loss before tax of Rs. 71.49 lakhs. Standalone EPS stood at Rs. -1.58 and consolidated EPS at Rs. -2.56. The Board also approved the re-appointment of M/s. S. Talwar & Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval. The auditor issued a qualified conclusion, noting the company is awaiting business licenses and clearances to start operations after undergoing a management change post-IBC proceedings in 2019.
The company continues to report zero revenue and is incurring losses, though losses are narrowing quarter-on-quarter. Shareholders should note the company is still in a pre-operational phase post-insolvency, with its financial statements prepared on a going concern basis dependent on receiving business licenses. The auditor's qualified report and ongoing cash burn without revenue remain key concerns.