Outcome of Board Meeting
Price
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Awaiting price reaction for this filing.
The board approved unaudited financial results for Q2 FY26 (quarter ended Sept 30, 2025) and H1 FY26 (half year ended Sept 30, 2025). The company reported zero revenue from operations across all periods, with total income also nil. It posted a loss of Rs 10.23 lakhs in Q2 FY26 versus a loss of Rs 10.19 lakhs in Q2 FY25, and a half-yearly loss of Rs 25.12 lakhs versus Rs 22.12 lakhs in H1 FY25. EPS for the half year stood at negative Rs 0.02. The balance sheet shows deeply negative net worth of Rs (389.79) lakhs, with total liabilities of Rs 1,111.87 lakhs against total assets of just Rs 722.08 lakhs. Operating cash flow was sharply negative at Rs (474.82) lakhs for H1 FY26, compared to a positive Rs 1.71 lakhs in H1 FY25. The statutory auditor, Motilal & Associates LLP, issued an unmodified limited review report. Notably, the Q1 FY25 results were reviewed by the previous auditor AMS & Co., indicating a mid-year auditor change.
This is a deeply concerning set of results for shareholders. The company has zero operating revenue, widening losses, negative net worth, and is burning cash from operations. Borrowings have surged from Rs 207.81 lakhs to Rs 694.31 lakhs. The stock faces significant going-concern risk, and the mid-year auditor change warrants close scrutiny. Existing shareholders face dilution or downside risk.