considered and approved Standalone and Consolidated Un-audited Financial Results of the Company along with Limited Review Reports for the quarter and three Months ended on 30th June, 2025
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Sterling Greenwoods Limited reported a standalone loss of Rs. 48.05 lakh for Q1 FY26, narrower than the Rs. 80.05 lakh loss in Q1 FY25, while total income stayed roughly flat at Rs. 11.74 lakh vs Rs. 11.44 lakh. Total expenses fell sharply to Rs. 49.70 lakh from Rs. 81.49 lakh, mainly on lower finance and other costs. The auditor flagged that Rs. 45 lakh of lease income due from Pushpadevi Goenka Trust was not booked for the quarter, which if recognised would have reduced the loss and lifted EPS by Rs. 1.06. The Board also appointed M/s. Nahta Jain & Associates as new statutory auditor for five years (FY25-26 to FY29-30), besides a new secretarial auditor and internal auditor. The auditor's report carries an 'Emphasis of Matter' paragraph highlighting the 2018 SEBI/BSE inquiry on FY09-10 asset transfers, ongoing civil suits in Kalol/Sanand, pending NCLT proceedings, and an FIR against an ex-resort manager for alleged misappropriation of Rs. 17.55 lakh.
Loss narrowed meaningfully y-o-y but the company remains in the red with negligible operating revenue and substantial emphasis-of-matter items around legacy legal/regulatory issues, keeping risk overhang for shareholders. The change of statutory auditor mid-FY and non-booking of lease income mean headline losses may understate the company's actual position.