The Board of Directors of Melstar Information Technologies Limited (hereinafter referred to as 'the Company'), have at their meeting held on Saturday, the 14th day of February, 2026, interalia ....
Awaiting price reaction for this filing.
Melstar Information Technologies' Board, at its meeting on 14 February 2026, approved the unaudited standalone and consolidated financial results for Q3 FY26 (quarter ended 31 December 2025) and the nine-month period. The company reported zero revenue from operations for the quarter, with a standalone loss before tax of Rs. 20.31 lakh and a cumulative 9-month loss of Rs. 118.41 lakh, much wider than the Rs. 29.95 lakh loss in the corresponding prior-year period. On a consolidated basis, the 9-month loss deepened to Rs. 225.28 lakh, driven by losses of Rs. 105.87 lakh from its two subsidiaries, Melstarr Aviation Tech and Melstarr Fintech. The Board also appointed Ms. Rose Mary Vase as an Additional Independent Director (5-year term), confirmed Mr. Raveendra Sangapu as full-time CFO, and reconstituted the Audit and Nomination & Remuneration Committees. The auditor issued a qualified review report, noting the company's history of insolvency proceedings (admitted under IBC in October 2019) and the fact that it is awaiting business licences and clearances to start operations.
This is a deeply distressed micro-cap stock with no revenue, widening losses, and a post-IBC history — investors should view it as high-risk. The leadership restructuring and committee overhaul suggest a possible change in business direction, but until licences come through and revenue starts, the stock is likely to remain illiquid and value-destructive for shareholders.