Unadited Fnancial Resutls for the quarter ended 30.06.2025.
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Space Incubatrics Technologies reported zero revenue from operations for Q1 FY26, with total income of ₹15.24 lakhs coming entirely from 'other income' (interest on loans and advances). Profit after tax stood at ₹4.65 lakhs, down from ₹6.79 lakhs in the same quarter last year. The company's foreign subsidiary, Sybly International FZE, was wound up in July 2024, and the company had earlier booked a provision of ₹3,221.69 lakhs on the loan receivable from that subsidiary plus ₹7.29 lakhs on the investment. For the full year ended March 2025, the company posted a loss of ₹12.67 lakhs with negative other equity of ₹(2,573.39) lakhs. The statutory auditor V.S. Gupta & Co. issued an unqualified limited review report but added an Emphasis of Matter paragraph highlighting the wound-up subsidiary and the unrecoverable loan.
The company has no active business operations and is essentially reliant on interest income from loans, with a deeply negative net worth and a history of large write-offs on a now-defunct foreign subsidiary — significant red flags for shareholders and a clear going concern risk for retail investors.