Pursuant to Regulation 30 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI (LODR) Regulations, 2015'), please be informed that ....
Awaiting price reaction for this filing.
SRM Energy's board approved its unaudited financial results for the quarter and nine months ended December 31, 2025, which show zero revenue from operations and a net loss of Rs. 9.80 lakhs in Q3 FY26 and Rs. 161.53 lakhs for the 9-month period (vs. Rs. 28.88 lakhs loss in 9M FY25). The company has no active business operations, its net worth is fully eroded (negative other equity of Rs. 1,316.23 lakhs), and current liabilities exceed current assets. The statutory auditor (Rajat Associates) issued a Qualified Conclusion citing material going concern uncertainty, and separately highlighted that employee salary dues of Rs. 24.43 lakhs remain unpaid. The company also liquidated its subsidiary investment (sold for just Rs. 1 lakh vs. Rs. 132 lakhs book value to the parent Spice Energy Pvt Ltd) and is currently undergoing an open offer acquisition process.
This is a distressed company with no revenue, fully eroded net worth, and a qualified audit opinion raising going concern doubts, which is a significant red flag for shareholders. The ongoing acquisition via open offer is the only positive catalyst, but completion and terms are uncertain, making the stock highly speculative and risky.