Dear Sir/Madam, This has reference to our letter dated January 28 2026. 1) The Board has considered and approved the unaudited Consolidated & Stand-alone Financial Results of the ....
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The Board approved unaudited standalone and consolidated financial results for the quarter ended 31 December 2025. Revenue from operations for Q3 FY26 was Rs. 5.45 lakhs, down from Rs. 7.65 lakhs in Q3 FY25. For nine months FY26, revenue fell to Rs. 15.68 lakhs from Rs. 18.42 lakhs a year earlier, while other income dropped sharply to zero from Rs. 73.96 lakhs. Total expenses ballooned to Rs. 135.26 lakhs (vs Rs. 88.68 lakhs), driven mainly by a 15x jump in finance costs to Rs. 78.33 lakhs (vs Rs. 5.18 lakhs). The company swung from a profit before tax of Rs. 3.70 lakhs in 9M FY25 to a loss of Rs. 119.59 lakhs in 9M FY26, with EPS of negative Rs. 0.16. Auditor Vasavi & Co issued a clean (unmodified) limited review report. Several legal matters remain pending at SAT (next hearing 24 Feb 2026), NCLT Hyderabad (3 Mar 2026), and the Appellate Tribunal in New Delhi (14 Apr 2026).
The company is bleeding cash with widening losses, collapsing other income, and a dramatic surge in finance costs that point to mounting debt pressure. Combined with declining top-line and ongoing tribunal cases, this raises significant concerns for shareholders about financial sustainability and dilution risk.