To consider and approve the UnAudited Standalone and Consolidated results and limited review report for the quarter ended 31st December 2025
Awaiting price reaction for this filing.
MESCO Steel's board approved its Q3 FY26 and 9M FY26 results on 13 February 2026. On a standalone basis, the company posted zero revenue from operations and a net loss of Rs 39.88 crore for the 9-month period, with a basic EPS of Rs (2.39). On a consolidated basis, revenue from operations was Rs 405.93 crore (down from Rs 427.69 crore in 9M FY25), with a net loss of Rs 133.93 crore. The auditor (Ashok Shyam & Associates) issued a qualified opinion, flagging multiple issues: Rs 1,562 crore of fixed assets without insurance, Rs 117.55 crore of receivables with no provision for non-moving debtors, Rs 169.57 crore of disputed tax/regulatory dues, GST returns not filed since November 2020, and a massive Rs 924.75 crore Supreme Court-imposed compensation liability for which no provision has been made. The auditor explicitly stated that the company 'may not be a going concern' given the absence of business activity and potential negative net worth. Related-party receivables stood at Rs 194.88 crore with no impairment assessment done.
This is a deeply negative filing for shareholders. The standalone business has effectively zero revenue, the auditor has cast serious doubt on the company's ability to continue as a going concern, and there is a Rs 924.75 crore Supreme Court compensation liability hanging over the company. Investors should expect heightened risk of stock price volatility and possible further regulatory or insolvency action.