Q2 revenue drops sharply as write-offs and covenant breaches persist

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Price reactionminutes from the announcement price · days from the prior close

-1.6%Reaction day

₹252.50

prior close

₹251.55

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.1%-2.7% vs market

Finance peers, median of 381sector · industry level+0.0%-1.6% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 1.6 pts less than its Finance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.1

10m

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15m

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30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6+1.1-2.7+0.0-1.6

Next day

-3.7+0.3-4.0-0.6-3.1

-5.5-1.4-4.2-2.0-3.6

-4.8-1.0-3.7-1.8-3.0

-6.2-1.4-4.8-1.9-4.3

-8.0-1.6-6.3-2.5-5.4

+0.1-0.8+0.9-2.2+2.3

15d

+6.3-3.6+9.9-5.5+11.8

+1.2-4.0+5.2-5.9+7.1

+3.5-3.9+7.4-6.3+9.9

-1.1-8.4+7.3-12.4+11.3

UpDownMarket · Nifty Microcap 250Sector · Finance peers, median of 381Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Standalone Q2 revenue fell 69% to Rs 199.32 crore and net loss widened to Rs 218.07 crore from Rs 203.93 crore. Half-year revenue fell 64% to Rs 461.18 crore, while net loss widened to Rs 546.98 crore from Rs 152.65 crore. Rs 947.67 crore of technical loan write-offs and loan-book shrinkage to Rs 3,200.65 crore drove the weak result. Operating cash flow remained positive at Rs 1,054.14 crore, but some covenant breaches were waived.

Likely market impact

Shareholders face pressure from losses, a shrinking loan book and covenant breaches, partly offset by positive cash flow and capital strength.