Seya Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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Seya Industries, which has been under Corporate Insolvency Resolution Process (CIRP) since November 2023, reported a net loss of ₹61.92 lakhs for Q3 FY26, narrower than the ₹147.06 lakh loss in Q3 FY25, but the nine-month loss widened to ₹216.83 lakhs from ₹189.76 lakhs a year earlier. Total income for the nine months fell to ₹1,284 lakhs from ₹1,432.29 lakhs in the prior year period, a decline of about 10%. The company has not made provisions for interest on borrowings classified as Non-Performing Assets (NPA) by lenders, leaving ₹2,191.41 lakhs (operating) and ₹9,319 lakhs (project) of unprovided interest for the nine months. The statutory auditor (Thacker Butala Desai) issued an unqualified review report. The Interim Resolution Professional continues to manage the company amid ongoing insolvency and lender litigation, with material uncertainties flagged regarding the outcome of these proceedings.
Shareholders face a high-risk, deeply distressed situation. The reported losses understate the true financial stress due to massive unprovided interest on NPA loans. The CIRP outcome remains the key swing factor for the stock — resolution could mean recovery, but liquidation risk is real given continued losses and unresolved lender disputes.