Pursuant to Regulation 30 and 33 of SEBI (LODR) Regulations, 2015, Board of Directors of the Company in its meeting held today approved the Unaudited Financial Results of the Company on ....
Awaiting price reaction for this filing.
The Board approved the standalone unaudited results for the quarter and half-year ended 30 September 2025, which came with a Qualified Opinion from the auditor. Revenue from operations stood at Rs 4.23 lakh for the quarter and Rs 8.45 lakh for H1 FY26, down from Rs 5.37 lakh and Rs 9.91 lakh respectively in the year-ago periods. The company reported a net loss of Rs 9.16 lakh for Q2 FY26 and Rs 36.25 lakh for H1 FY26, against a profit of Rs 5.32 lakh in Q2 FY25. The auditor flagged material uncertainty on the company's ability to continue as a going concern, citing accumulated losses of around Rs 871.73 crore wiping out the net worth (now negative at Rs 869.53 crore) and longstanding bank debt of Rs 825.61 crore under a Bombay High Court decree with total dues (including interest) reaching Rs 865.76 crore. The company is also battling an expired ground lease, a BMC property tax dispute, and its shares have been suspended from trading on the exchanges since 2005 due to non-payment of listing fees.
This is a deeply distressed, near-dormant company with effectively no operating business, wholly eroded net worth, and an unenforceable stock (suspended since 2005). The qualified audit and going-concern flag, combined with a decree allowing sale of company assets to recover lender dues, mean existing shareholders face severe risk of dilution or total loss with no meaningful upside in the near term.