Outcome of Board meeting
Price
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Awaiting price reaction for this filing.
The Board approved standalone unaudited financial results for the quarter and half year ended September 30, 2025. Net sales collapsed to Rs. 17.90 lakhs in Q2 FY26 from Rs. 58.17 lakhs in Q2 FY25, though total income rose to Rs. 179.01 lakhs due to higher non-operating income (Rs. 161.12 lakhs). The company posted a Q2 net loss of Rs. 50.07 lakhs and widened H1 FY26 net loss to Rs. 192.39 lakhs (vs Rs. 73.89 lakhs in H1 FY25). The auditor (SSRV & Associates) issued a clean limited review report. The Board also approved forfeiture of Rs. 21.50 lakhs on 86 lakh unexercised convertible warrants, cancelled them, and directed management to initiate legal action against four parties (Pavostar Synergies, Shree Industries, Kerala State Beverages Corp, and Viiking Beverages) to recover outstanding receivables.
Persistent losses and shrinking core sales raise going-concern concerns, though the move to chase receivables via legal action could recover cash owed. Shareholders should note the share capital expanded significantly via warrant conversions, and the company's reliance on non-operating income (likely interest/treasury) to mask weak operating performance.