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Simplex Realty's Board, at its November 13, 2025 meeting, approved the unaudited standalone and consolidated financial results for Q2 and H1 FY26, reviewed by statutory auditor Khandelwal & Mehta LLP. On a standalone basis, Q2 FY26 revenue from operations was ₹133.44 lakhs (vs ₹26.54 lakhs in Q2 FY25), but the company posted a loss after tax of ₹25.19 lakhs in Q2 and ₹137.92 lakhs for H1 FY26, swinging from a profit of ₹114.65 lakhs in H1 FY25. The auditor flagged an Emphasis of Matter in the consolidated review, noting that two associates (Simplex Mills Company Ltd and Simplex Papers Ltd) have fully eroded net worth, raising going concern doubts, though management has prepared their accounts on a going concern basis. The company also fully repaid ₹2,000 lakhs in borrowings during H1, bringing debt to zero, while cash declined to ₹113.13 lakhs.
Shareholders should note the sharp swing to losses at the standalone level despite revenue pickup in Q2, and the going concern uncertainty around two associate companies. The clean-up of all borrowings is a positive sign for the balance sheet, but real estate revenue remains lumpy quarter-to-quarter.