Outcome of Board Meeting for approval of Unaudited Financial Results for the quarter and nine months ended December 31, 2025
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The Board approved unaudited standalone and consolidated financial results for Q3 FY26 and the nine months ended December 31, 2025. Revenue from operations fell sharply to Rs. 261.39 lakhs in Q3 FY26, down about 57% from Rs. 609.88 lakhs in Q3 FY25. For the nine months, revenue slipped to Rs. 770.85 lakhs from Rs. 803.74 lakhs. The company swung to a loss of Rs. 8.56 lakhs in Q3 FY26 (vs. Rs. 12.48 lakhs profit a year ago) and a nine-month loss of Rs. 17.68 lakhs (vs. Rs. 17.71 lakhs profit). On a consolidated basis, the nine-month loss was Rs. 17.93 lakhs after factoring in losses from associate Disha Capital Services. The auditor issued a qualified opinion because the company has not provisioned for gratuity as required under Ind AS 19, and flagged emphasis-of-matter issues around unconfirmed trade balances and Rs. 722.05 lakhs of unverifiable work-in-progress inventory. The filing also indicates a change in statutory auditor compared to the prior year.
Weak quarterly performance and a return to losses, combined with a qualified auditor opinion and unresolved audit qualifications, are negatives for shareholders. Investors may view the steep Q3 revenue fall and pending gratuity provisioning as red flags that could pressure the stock in the short term.