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 Q2 and H1 FY26 results on November 11, 2025, reporting zero revenue from operations and only ₹3.77 lakh of other income (a tax refund). Total expenses surged to ₹155.49 lakh for the half year, pushing the loss before tax to ₹151.72 lakh versus ₹17.33 lakh in H1 FY25, mainly because the company sold its loss-making wholly-owned subsidiary (SRM Energy Tamilnadu) to its parent Spice Energy Private Limited for just ₹1 lakh, booking a ₹131 lakh loss on disposal. Net worth is deeply negative at ₹(562.28) lakh, current liabilities of ₹562.33 lakh dwarf current assets of ₹5.25 lakh, and employee salary dues of ₹18.64 lakh remain unpaid. The statutory auditor issued a Qualified Opinion, explicitly flagging a material uncertainty on going concern since the company has no business activity, keeps burning cash, and depends on its parent for survival. Cash and cash equivalents stood at a thin ₹2.81 lakh while borrowings were ₹537.57 lakh.
Very negative for shareholders — the company is effectively a cash-strapped shell with fully eroded net worth, no operations, and survival dependent on parental support; the qualified audit opinion and going concern warning heighten solvency risk and suggest limited near-term recovery prospects for the stock.