Unaudited Financial Results for Quarter ended June 30 2025 along with Limited Review Report
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Awaiting price reaction for this filing.
SPEL Semiconductor, an IC assembly and test company based in Chennai, reported unaudited financial results for Q1 FY26 (quarter ended June 30, 2025) with a loss, though detailed revenue and expense line items are largely unreadable in the filing. The statutory auditor (Venkatesh & Co) issued a qualified review report flagging that the company has incurred losses and generated negative cash flows during the period and in earlier years, raising significant doubt about its ability to continue as a going concern. The company recorded an exceptional item of about Rs 3.16 crore for the quarter, mainly an inventory write-off of Rs 3.70 crore on old pandemic-era finished goods stock, partly offset by credit balances written back. Management said losses stem from unsold pandemic-era inventory and that it is addressing the cash flow situation through restructuring and sale of surplus factory land. The board also approved the appointment of a new director, accepted the resignation of an independent director, and appointed new secretarial auditors.
Shareholders should be cautious — the auditor has flagged going concern uncertainty due to persistent losses and negative cash flows, and a sizeable inventory write-off has hit this quarter's results. The company's turnaround plan hinges on selling surplus land and securing government semiconductor subsidies, so near-term stock sentiment may remain weak until these measures deliver results.