Pursuant to regulation 33 the Unaudited Financial Result for the Quarter and half year ended 30th September 2025 is approved
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Awaiting price reaction for this filing.
The Board approved unaudited results on November 14, 2025. Standalone total revenue from operations jumped to Rs 7,677 lakhs in Q2 FY26 from just Rs 991 lakhs in Q2 FY25, and rose to Rs 13,530 lakhs for H1 FY26 versus Rs 1,787 lakhs in H1 FY25. Despite the strong top-line, the company reported a standalone net loss of Rs 4,523 lakhs in Q2 and Rs 3,038 lakhs in H1, against a small profit of Rs 118 lakhs in H1 FY25. The swing to loss was driven by an exceptional item of Rs 5,252 lakhs — a provision on a sub-standard asset classified under RBI prudential norms, where the underlying claim is secured and pending before NCLT. The balance sheet expanded sharply: total assets almost doubled to Rs 3,32,237 lakhs, loans grew from Rs 1,31,885 lakhs to Rs 2,34,158 lakhs, and total debt (securities + borrowings) rose to Rs 2,88,627 lakhs against equity of only Rs 32,396 lakhs. Operating cash flow was deeply negative at Rs (1,21,537) lakhs, while provisions surged from Rs 1,319 lakhs to Rs 8,631 lakhs.
Profitability has collapsed due to a large one-time provisioning hit, and the stock could face pressure given weak earnings, very high leverage, and persistent negative operating cash flow; however, management asserts the NCLT-admitted claim is fully backed by security (4x cover), so meaningful recovery is possible if the resolution goes through.