AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH 2026
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SPEL Semiconductor reported a net loss of Rs. 2,384.11 lakhs for FY2025-26, compared to a loss of Rs. 2,104.56 lakhs in the previous year. Total income declined to Rs. 853.07 lakhs from Rs. 951.90 lakhs year-on-year. The company's auditor issued a Qualified Opinion citing material uncertainty about its ability to continue as a going concern due to: losses and negative cash flows, major employee resignations, breakdown of plant and machinery, and suspension of factory operations since January 2026. Trade receivables (Rs. 58.76 lakhs) and payables (Rs. 326.98 lakhs) remain unreconciled. The CFO was also terminated on May 19, 2026. Net worth has eroded to just Rs. 304.43 lakhs.
This is an extremely negative development for shareholders. The qualified audit opinion with going concern doubts, combined with factory suspension, operating losses, and eroded net worth, signals severe financial distress. The stock carries high risk of delisting or liquidation if operational revival plans fail.