SEL Manufacturing Company Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
SELMC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
SEL Manufacturing reported unaudited Q1 FY26 results with net revenue crashing about 72% year-on-year to Rs. 575.07 lakhs (vs Rs. 2,061.88 lakhs in Q1 FY25). The company posted a net loss of Rs. 4,104.62 lakhs, wider than the Rs. 3,159.55 lakhs loss a year ago, with EPS of negative Rs. 12.39. Other equity is deeply negative at Rs. (24,224) lakhs and cumulative losses have reached Rs. 68,195 lakhs. The auditor (Kamboj Malhotra & Associates) issued a qualified opinion because the company did not perform the mandatory impairment testing of its plant and machinery under Ind AS 36, and explicitly flagged material uncertainty on going concern. The company has defaulted on loan installments of Rs. 16,815 lakhs and unpaid interest of Rs. 13,128 lakhs, and major plants remain shut with only job-work at one unit. On the governance side, the Chairperson, two other independent directors, the CFO and the Company Secretary all resigned between mid-July and mid-August 2025, and the 25th AGM is set for September 30, 2025.
This is a deeply negative filing for shareholders — collapsing revenues, widening losses, a qualified audit opinion, an explicit going-concern warning, and a near-total exodus of top management and independent directors signal severe financial and governance distress that is likely to weigh heavily on the stock. Investors should brace for the possibility of further insolvency proceedings, as shareholders had already passed a resolution in October 2023 to initiate a fresh CIRP.