This is to inform you that the Board of Directors of the Company at its meeting held on Wednesday, 30th July, 2025 commenced at 11:00 a.m. and concluded at 11:50 a.m. inter alia has transacted ....
Awaiting price reaction for this filing.
Classic Filaments Ltd's board met on 30 July 2025 and approved (1) unaudited financial results for Q1 FY26 (quarter ended 30 June 2025), (2) redesignation of Mr. Jayanti Gaudani from Managing Director to Whole-Time Director, and (3) appointment of M/s Lakhankiya & Dosi LLP as Statutory Auditors for a 5-year term (35th to 40th AGM). The Q1 results show zero revenue from operations and a net loss of Rs. 4.15 lakhs (vs. loss of Rs. 2.33 lakhs in Q1 FY25), with EPS of Rs. (0.08). Full-year FY25 loss stood at Rs. 10.96 lakhs on zero revenue. The auditor's limited review report is unqualified but includes an Emphasis of Matter note regarding a show-cause notice under Section 263 of the Income Tax Act for FY 2018-19 concerning alleged bogus purchases, which management considers will not have a material impact.
The company continues to report zero revenue and widening quarterly losses, raising serious going-concern concerns for shareholders. The pending tax show-cause notice adds a contingent liability overhang, though management believes it is not material. The leadership change and formal auditor appointment are routine governance items with no immediate positive catalyst for the stock.