Revised outcome of Board Meeting held on December 09, 2025
Awaiting price reaction for this filing.
Neogem India has resubmitted its Q1 (ended June 30, 2025) and Q2/H1 (ended September 30, 2025) unaudited financial results along with the Limited Review Report, which was inadvertently missed in the original December 9, 2025 intimation. The company, which has been a non-operating gems & jewellery entity since January 2018, reported a loss of Rs. 8.19 lakh in Q1 and Rs. 16.83 lakh in Q2, with a deeply negative net worth of around Rs. 35.89 crore as of September 30, 2025. The auditor (Ashok Bairagra & Associates) issued an Adverse Opinion and a Disclaimer of Opinion, flagging that the company cannot repay its liabilities, its bank accounts have been classified as non-performing assets since 2016 (Punjab National Bank Rs. 10 crore and Bank of India Rs. 5 crore), SARFAESI action has been initiated, and over Rs. 41 crore of sundry debtors and Rs. 16 crore of creditors remain unconfirmed and outstanding for more than three years.
This is a serious red-flag filing for retail investors: the auditor has explicitly raised a going-concern doubt, issued an adverse opinion, and highlighted that the net worth would be fully eroded after provisions. With manufacturing halted since 2018, NPA-tagged bank loans, frozen bank balances, and an unresolved revival/restructuring plan, the company's ability to continue operations is in material doubt and shareholder value is at high risk.