UN-AUDITED FINANCIAL RESULTS ALONG WITH LIMITED REVIEW REPORT ENCLOSED HEREWITH.
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Awaiting price reaction for this filing.
SBEC Systems posted total income of Rs 113.50 lakhs in Q2 FY26 (up ~47% YoY from Rs 76.99 lakhs) and Rs 208.48 lakhs for H1 FY26 (up ~45% YoY). However, the company swung to a Q2 loss of Rs 19.34 lakhs versus a Rs 26.19 lakh profit a year ago, with H1 profit collapsing to just Rs 2.69 lakhs from Rs 46.01 lakhs. The Technical Services/Consultancy segment, which contributed over 60% of revenue, posted a Rs 42.06 lakh segment loss, while the Solar Power unit turned in a Rs 22.72 lakh profit. The company carries negative standalone other equity of Rs 795.28 lakhs (consolidated negative Rs 2,218 lakhs), total borrowings of about Rs 3,036 lakhs, and very weak cash of just Rs 6.76 lakhs.
Shareholders should be concerned about the sharp swing to loss in the core consultancy business, deeply negative net worth, and very high leverage, all of which point to significant financial stress. The H1 cash burn of Rs 625 lakhs from operations was funded entirely by new term loans, and combined with a BSE non-compliance advisory and pending NCLT capital reduction, the stock carries elevated risk despite headline revenue growth.