The Exchange had sought clarification from Neueon Towers Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Segment details not submitted The response of the Company is enclosed.
Awaiting price reaction for this filing.
Neueon Towers Limited responded to NSE's query about missing segment details by stating it operates in a single business and geographical segment, so segment reporting was unintentionally omitted from notes to accounts. The company also submitted its audited standalone and consolidated results for the quarter and year ended March 31, 2025. Revenue from operations rose sharply to Rs. 539.53 lakhs (FY24: Rs. 8.72 lakhs), but the company reported a net loss of Rs. 9,073.68 lakhs for FY25. The auditor (RP SV & Co.) issued a qualified opinion, flagging non-conduct of impairment testing under Ind AS 36 and noting that 50% of creditor settlements under the approved Resolution Plan remain pending. An Emphasis of Matter paragraph highlighted that the company's ability to continue as a going concern depends on timely execution of the Resolution Plan approved by NCLT on October 23, 2024, led by PRECA Solutions India Pvt Ltd. Operating cash flow was deeply negative at Rs. (1,22,231) lakhs standalone.
Shareholders should note that despite a new board and fresh equity infusion (positive net worth of Rs. 91,335 lakhs), the company continues to report large losses and faces material going concern uncertainty tied to the resolution plan. The qualified audit opinion and unresolved impairment review add to risk; the stock remains a high-risk, thinly-traded name with limited operational clarity.