Announced Fri, 7 Aug · 17:51 IST
Board OKs Q1 results with going concern flag, fund raising and ESOP expansion
Going ConcernNegative Operating CashflowPat NegativeExceptional ItemContingent Liabilities IncreasedRelated Party TransactionsResults View source PDFExplain this filing
PRAXIS · price
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AI summary
Q1 FY27 revenue rose 13 percent YoY to Rs 26.60 crore but the company posted a loss of Rs 11.06 crore. Auditor Singhi and Co flagged a material uncertainty on going concern due to a cash loss of Rs 8.95 crore, negative net worth, and current liabilities exceeding current assets by Rs 69.11 crore. The company also faces an IBC notice. Board approved evaluating fund raising via equity or other securities and expanding the ESOP pool from 30 lakh to 65 lakh options.
Likely market impact
Loss continues with going concern risk. Fund raising and larger ESOP pool may dilute existing shareholders, weighing on the stock.