Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Sheshadri Industries' board approved unaudited results for Q2 and H1 FY26 (ended September 30, 2025). Revenue from operations dropped sharply to about Rs 630 lakhs in Q2 FY26 from roughly Rs 1,392 lakhs in Q2 FY25, a steep year-on-year decline. Q2 FY26 standalone profit after tax was Rs 148.35 lakhs (up from Rs 122.74 lakhs YoY) because no exceptional charge hit this quarter. However, H1 FY26 PAT collapsed to just Rs 21.14 lakhs versus Rs 63.81 lakhs a year ago, after a Rs 225.01 lakh exceptional hit booked in Q1 — write-off of unrealizable export duty credit (Rs 214.11 lakhs) and unrecognised GST demands (Rs 10.90 lakhs). The auditor (K.S. Rao & Co.) issued a qualified review conclusion because the company has not provisioned Rs 28.11 lakhs of interest on unpaid TDS dues. The company also disclosed accumulated losses of Rs 1,903.96 lakhs, current liabilities exceeding current assets, and negative other equity of Rs -1,565.12 lakhs, but maintained the going concern assumption citing the market value of its immovable properties.
Sharp revenue contraction, deeply negative net worth, and a qualified auditor opinion are material red flags for shareholders, although Q2 PAT improved YoY and the company is relying on real estate asset values to support its balance sheet. Watch for revenue stabilisation and any further erosion of the going concern assumption.