Outcome of Board Meeting- Financial Results for the quarter and year ended on 31.03.2026
SELMC · price
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SEL Manufacturing Company reported a net loss of Rs. 16,787.23 lakhs for FY26, compared to a loss of Rs. 13,071.99 lakhs in FY25, representing a 28.4% increase in losses. Total income declined sharply to Rs. 1,564.65 lakhs from Rs. 3,324.75 lakhs (53% decline). Finance costs of Rs. 8,045.87 lakhs nearly equaled total revenue, indicating severe operational distress. The auditor issued a Qualified Opinion due to the company's failure to conduct impairment testing for Property, Plant & Equipment (Rs. 79,537.54 lakhs) and Capital Work in Progress (Rs. 4,246 lakhs) as required under Ind AS 36. The company has cumulative losses of Rs. 80,878 lakhs over five years, negative net worth of Rs. 39,957.98 lakhs, and defaulted on quarterly installments of Rs. 30,872 lakhs. Plants remained largely shut during the year.
The company faces severe financial distress with a going concern risk. Negative equity, mounting losses, and inability to meet debt obligations make this a high-risk investment. Shareholders face significant downside as the company initiated Corporate Insolvency Resolution Process under Section 10 of IBC in October 2023.