Security Cover Certificate pursuant to Regulation 54 read with Regulation 56 of the Listing Regulations.
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Awaiting price reaction for this filing.
Shri Vasuprada Plantations (formerly Joonktollee Tea & Industries) reported weak Q2 FY26 results with standalone revenue from operations falling ~16.6% to Rs 2,257.99 lakhs (vs Rs 2,707.61 lakhs in Q2 FY25). The company slipped into a standalone net loss of Rs 506.42 lakhs in Q2 FY26, compared to a profit of Rs 318.49 lakhs a year ago. For H1 FY26, standalone net loss widened to Rs 682.60 lakhs (vs Rs 530.07 lakhs loss in H1 FY25), while consolidated net loss stood at Rs 554.93 lakhs. The auditor (Singhi & Co.) issued a clean, unqualified limited review report on both standalone and consolidated results. The company also filed a Security Cover Certificate confirming 100% asset cover for its Rs 23 crore secured, listed NCDs and compliance with all debenture trust deed covenants.
Continued losses and revenue contraction point to operational pressure in the plantation business (tea, coffee, rubber). For equity shareholders, the widening losses are a concern, though debenture holders remain protected as the company maintains adequate security cover and complies with NCD covenants.