The Unaudited Financial Results ( Standalone & Consolidated) of the company for the quarter and half year ended 30th September, 2025 along with Statement of Assets & Liabilities, Cash Flow ....
Awaiting price reaction for this filing.
The company, currently under liquidation since January 2022, filed unaudited results for the quarter and half year ended September 30, 2025, approved by the Liquidator (Mr. Uliyar Balakrishna Bhat) instead of a board, as board powers remain suspended. Standalone revenue from operations jumped to ₹29,666 lakhs in Q2 from ₹7,032 lakhs a year ago, and the firm swung to a profit before tax of ₹1,316.59 lakhs for H1 FY26 against a loss of ₹411.02 lakhs in H1 FY25. Auditor Tolia & Associates issued an unqualified review conclusion on both standalone and consolidated numbers. The company's going-concern sale to the Elysian Wealth Fund (formerly Silver Stallion) / Vikasa India EIF / AIG Direct LLC consortium was completed with a sale certificate dated October 3, 2024, but the final NCLT liquidation closure order is still pending, and three new non-executive directors have been appointed. Operating cash flow was negative at ₹1,223.37 lakhs in H1 FY26 versus a positive ₹2,438.76 lakhs in H1 FY25.
For shareholders, the most material event is the pending NCLT closure order: once it comes through, the company plans to cancel existing shares and issue fresh equity to the new owners, which could effectively wipe out current holders. The sharp top-line and profit swing is largely driven by the asset sale rather than an ongoing business turnaround, so the results should be read in that context.