Pursuant to Regulation 30 and Regulation 33 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that the Board ....
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Terraform Magnum's board, meeting on August 7, 2025, approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025) along with the statutory auditor's limited review report. The company reported zero revenue from operations, with total income of just ₹0.02 lakhs (down from ₹0.05 lakhs in Q1 FY25), while expenses rose to ₹2.90 lakhs, widening the quarterly net loss to ₹(2.88) lakhs from ₹(2.60) lakhs a year ago. The auditor flagged a 'Material Uncertainty Related to Going Concern,' noting that results are prepared on a going concern basis despite the company's net worth remaining deeply negative at ₹(1,854.80) lakhs. An Emphasis of Matter was also raised regarding a 2019 Deed of Assignment for a Kandivali property, where the assignee has repeatedly defaulted on payments and the deal's completion remains uncertain.
This is a significant red flag for shareholders — the auditor's explicit going-concern warning combined with a deeply negative net worth, ongoing operational losses, and unresolved property deal uncertainties suggests the company's ability to continue as a going concern is in serious doubt, posing material risk to equity value.