Pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board at its meeting held today i.e. on May 29, 2026, ....
Awaiting price reaction for this filing.
Chase Bright Steel Ltd reported audited financial results for the year ended March 31, 2026. The company posted a net loss of Rs 31.80 Lakhs before tax, compared to a profit of Rs 5.00 Lakhs in the previous year. Accumulated losses stand at Rs 1,619.06 Lakhs with negative net worth of Rs 1,451.56 Lakhs, indicating complete erosion of shareholder equity. Net cash from operating activities remained negative at Rs 112.93 Lakhs. The auditor issued an unmodified opinion but included a Material Uncertainty Related to Going Concern paragraph, citing accumulated losses, negative net worth, and the company's ability to continue as a going concern being dependent on profitable operations. The company also has a pending GST demand of Rs 2.46 crore for FY 2018-19 under appeal.
The stock faces significant risk due to negative net worth, ongoing losses, and negative operating cash flows. The auditor's going concern warning indicates substantial doubt about the company's ability to sustain operations without generating profits or securing additional funding.