Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company had at its meeting held on 11th November 2025, ....
Awaiting price reaction for this filing.
Melstar Information Technologies reported its Q2 and H1 FY26 results with zero revenue from operations on both a standalone and consolidated basis. Standalone loss for H1 FY26 widened sharply to Rs. 98.10 lakhs from just Rs. 6.88 lakhs in H1 FY25, with Q2 alone posting a Rs. 53.84 lakh loss. On a consolidated basis (including subsidiaries Melstarr Aviation Tech and Melstarr Fintech), H1 FY26 loss was Rs. 157.21 lakhs, of which Rs. 59.11 lakhs came from the two subsidiaries. The statutory auditor CKSP & Co LLP issued a qualified conclusion, flagging that the company is still awaiting business licences and clearances to start operations following its 2019 NCLT insolvency proceedings. Short-term borrowings more than doubled to Rs. 708.59 lakhs (standalone) from Rs. 288.17 lakhs as of March 2025, while cash dropped to Rs. 2.73 lakhs. The auditor confirmed results were prepared on a going-concern basis only because of management's stated cost-saving and fund-raising plans.
Negative for shareholders — the company has no operating revenue yet, losses are widening materially, and the auditor's qualified opinion plus going-concern reference highlight that the business has not actually restarted despite the management change after the 2019 insolvency. Continued reliance on new borrowings to fund expenses raises sustainability concerns for the stock.