Outcome of Board Meeting for the approval of unaudited financial results for the quarter ended 30.06.2025
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Sheshadri Industries' board approved its unaudited Q1 FY26 (quarter ended 30 June 2025) results, reporting revenue from operations of Rs. 634.46 lakhs (slightly down from Rs. 641.81 lakhs in Q1 FY25) but posting a net loss of Rs. 127.21 lakhs, wider than the Rs. 58.93 lakh loss a year ago. The loss was driven by exceptional items of Rs. 225.01 lakhs, mainly a Rs. 214.11 lakh write-off of an export duty credit deemed irrecoverable and Rs. 10.90 lakh in prior-period GST demands. EPS stood at negative Rs. 2.56. The company disclosed accumulated losses of Rs. 2,052.30 lakhs with current liabilities exceeding current assets, flagging a going concern risk, while the statutory auditor issued a qualified review conclusion over unpaid TDS interest of Rs. 26.54 lakhs. On the governance side, independent director Ms. Sushma Gupta resigned citing personal reasons and Mr. Manish Gupta also stepped down; Ms. Pooja Gupta was appointed as additional non-executive independent director, and the Nomination & Remuneration Committee was reconstituted. M/s. HSP & Associates LLP was also appointed as secretarial auditor for five years.
Shareholders should note the continued losses, a large one-time write-off dragging Q1 into the red, and a qualified auditor opinion that underscores weak financial health. The simultaneous exit and entry of independent directors, plus an existing going concern uncertainty, may weigh on investor confidence in the near term.