Chairman appointed, promoter reclassification approved, Q2 loss with going concern flag
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Board appointed Mr. Kailasnath Adhikari (already Managing Director) as Chairman. It also approved reclassifying promoter Markand Adhikari (4.59 percent stake, father of Chairman) to Public category citing retirement. Q2 FY26 results show revenue of Rs 55.25 lakh, narrowing loss of Rs 14.01 lakh versus Rs 24.30 lakh in Q1. Going concern flagged with current liabilities 4.44 times current assets and PPIRP insolvency process already initiated.
Negative equity, debt servicing issues and ongoing PPIRP insolvency process signal financial distress. Promoter exit brings clarity on governance.