Q2 FY27 results approved; loss widens, promoter exit and open offer underway
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Board approved unaudited Q2 and H1 FY26-27 results. Company has no revenue from operations. Other income for H1 rose to 2.51 lakh from 1.30 lakh. Net loss widened to 8.79 lakh from 4.27 lakh as other expenses doubled to 8.53 lakh. Cash and cash equivalents fell sharply from 202.95 lakh to 1.34 lakh after a 174 lakh dividend payout. Promoters proposed selling entire 73.15% stake to a new acquirer; SEBI open offer and preferential issue are pending approval.
Promoter exit and open offer may shift control; persistent losses and no operating revenue are concerns despite a clean limited review report.