OUTCOME OF BOARD METTING HELD ON 12TH NOVEMBER, 2025.

Net loss reportedEBITDA margin compressionNegative operating cash flowDebt to equity above the thresholdGoing-concern doubtResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-4.9% vs market

Trading & Distributors peers, median of 126sector-0.3%-4.7% vs sector

On the reaction day the stock moved 4.9 pts less than Nifty Microcap 250 and 4.7 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Board approved unaudited standalone and consolidated financial results for Q2 and H1 FY26 ended 30 September 2025. Standalone revenue from operations rose modestly to Rs. 91.58 lakh in Q2 (vs Rs. 77.10 lakh YoY) but the company swung to a loss of Rs. 19.34 lakh for the quarter (vs Rs. 26.19 lakh profit YoY), while H1 profit before tax collapsed to Rs. 2.69 lakh from Rs. 55.23 lakh last year. The Technical Services/Consultancy segment turned sharply negative, partly offset by the Solar Power Generation unit. The balance sheet shows weak financials: standalone other equity is negative at Rs. (795.28) lakh, consolidated other equity is deep in the red at Rs. (2,218.37) lakh giving negative consolidated net worth of Rs. (1,218.37) lakh, and total borrowings stand at Rs. 3,035.86 lakh against total standalone equity of just Rs. 204.72 lakh. Operating cash flow turned sharply negative at Rs. (624.64) lakh for H1 (vs Rs. 114.16 lakh positive YoY), largely due to Rs. 656.05 lakh parked in an escrow account with Kotak Mahindra Bank. The Board also noted the cessation of Independent Director Mr. Jagdish Chander Chawla (tenure completion) and acknowledged a BSE advisory letter on SEBI LODR non-compliance, pledging better compliance.

Likely market impact

Negative for shareholders – the company moved from profit to loss in Q2, the balance sheet is stretched with very high debt and negative consolidated net worth, and operating cash flow has turned sharply negative, raising serious going-concern questions. Additionally, the ongoing capital reduction scheme is pending NCLT approval and a SEBI-directed open offer for SBEC Sugar shareholders remains active, which could weigh on the stock.