Announcement under Regulation 30 (5) of the Listing Regulations, 2015
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Shree Precoated Steels Ltd (BSE: 533110) announced the outcome of its July 24, 2025 board meeting. The board approved standalone unaudited results for Q1 FY26 (quarter ended June 30, 2025), which showed zero revenue from operations and a net loss of ₹12 lakhs (EPS of ₹(0.29)). Total expenses were just ₹12 lakhs, mainly employee costs (₹8L) and other expenses (₹4L). The company's net worth stood at ₹(216) lakhs as of March 31, 2025, and other equity was ₹(630) lakhs — both deeply negative. The statutory auditor, V. Parekh & Associates, has flagged a 'Material Uncertainty Related to Going Concern' in its limited review report, noting that the company's negative net worth raises significant doubt about its ability to continue operations. Note 6 in the results explicitly states accounts are prepared on a going-concern basis despite the negative net worth and pending indirect tax refund litigation.
This is a serious red flag for shareholders — the auditor has formally flagged going-concern uncertainty, the company has no operating revenue, persistent losses, and negative net worth. The stock could see negative sentiment; investors should weigh the risk of business continuity before holding or adding to positions.