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Saptak Chem and Business Ltd reported zero revenue from operations for the quarter and half year ended September 30, 2025, continuing its lack of business activity. The company posted a loss before tax of Rs. 7.79 lakhs for H1 FY26 (vs Rs. 0.66 lakh loss in H1 FY25), with total expenses of Rs. 7.79 lakhs mainly from other expenses (Rs. 6.65 lakhs) and employee costs (Rs. 1.14 lakhs). The balance sheet remains weak with negative net worth of Rs. 233.47 lakhs (vs Rs. 225.68 lakhs a year ago) and total current liabilities of Rs. 256.82 lakhs against current assets of just Rs. 23.35 lakhs. A 90% capital reduction scheme (approved by NCLT in June 2025) was implemented to write off accumulated losses of Rs. 9.66 crores, reducing share capital from Rs. 10.73 crores to Rs. 1.07 crores. Statutory auditor Mr. Meet Shah resigned citing pre-occupation and location issues, and M/s. P H Shah & Co has been appointed in his place until the next AGM in 2026. Operating cash flow was negative at Rs. 9.02 lakhs for the period.
Shareholders should note the company has effectively no business operations, zero revenue, persistent losses, and negative net worth — the capital reduction is a balance-sheet cleanup but does not fix the underlying going-concern issues. The mid-term auditor change adds governance uncertainty for retail investors.