Outcome of Board meeting
SABEVENTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board approved audited financial results for FY ended March 31, 2026. Revenue increased 39.8% to Rs. 243.12 Lakhs from Rs. 173.88 Lakhs in the prior year, and total losses narrowed significantly to Rs. 42.26 Lakhs from Rs. 73.81 Lakhs. However, the company continues to burn cash with negative equity of Rs. 241.33 Lakhs and current liabilities 3.78 times current assets. The auditors issued a qualified opinion due to an unaccounted interest liability of Rs. 253.76 Lakhs disputed in the ongoing Pre-Packaged Insolvency Resolution Process (PPIRP). The company has filed for PPIRP under Section 54C of the Insolvency and Bankruptcy Code, 2016, and the petition is pending before NCLT.
This is a high-risk stock. Despite improved revenues and reduced losses, the company has negative net worth, is unable to service debt, and is under insolvency proceedings. Shareholders face extreme risk of value destruction or delisting.