Smartworks files NCLT application to set off Rs 385.6 cr losses via Securities Premium
SMARTWORKS · price
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On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.0 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Smartworks has filed an application with NCLT New Delhi under Section 66 read with Section 52 of the Companies Act, 2013 for reduction of share capital. The company proposes to use about Rs 385.6 crore from its Securities Premium Account (balance of about Rs 798.2 crore) to fully set off accumulated losses of Rs 385.6 crore as on March 31, 2026. This is a balance sheet rationalization exercise to wipe out accumulated losses and present a cleaner financial position. No change to share capital or shareholding.
Balance sheet cleanup only - eliminates Rs 385.6 cr accumulated losses from books. No impact on share price, EPS, or shareholder returns.