Q2 FY26 results - auditor flags going concern uncertainty amid liquidity crunch
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Board approved Q2 FY26 unaudited results. Auditor flagged material going concern uncertainty citing severe liquidity crunch, net capital deficiency of Rs 28,912 lakhs, loan defaults with banks classifying loans as NPA, and inability to raise funds. Modified review conclusion due to inability to determine fair value of Rs 10,514 lakhs investments in joint ventures amid partner disputes. H1 FY26 reported profit of Rs 4,790 lakhs, driven mainly by exceptional item reversals of Rs 9,086 lakhs. RBL Bank debt assigned to Prudent ARC; NCLT case by Resurgent India hearing set for November 12.
Severe financial distress with going concern doubt. NCLT proceedings, debt assignment to ARC, and curtailed operations pose major risk to shareholders.