Audited standalone and consolidated financial results of the Company for the quarter and year ended March 31, 2026
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Tulsyan NEC Ltd reported FY2026 standalone total income of Rs 76,009.85 lakhs, down from Rs 80,083.08 lakhs in FY2025, representing a revenue decline. The company posted a standalone net loss of Rs 6,443.99 lakhs (EPS: -Rs 39.15), though this is an improvement from the prior year loss of Rs 7,269.61 lakhs. The auditors issued a qualified opinion on both standalone and consolidated results due to unreceived balance confirmations for trade receivables constituting approximately 59.48% of the confirmations sought. Additionally, the company has an Emphasis of Matter regarding Non-Convertible Debentures where coupon payments could not be serviced from October 2025 onwards, with a moratorium agreed until August 2026 and final redemption revised to September 2027. The Steel Division revenue declined to Rs 57,509.50 lakhs from Rs 63,230.24 lakhs. The company also announced resignation of Whole Time Director Mr. S Chandrasekaran and reappointment of internal and cost auditors.
The company continues to operate at a loss with a qualified audit opinion and NCD payment issues, indicating significant financial stress. The qualified opinion on trade receivables recoverability and the NCD moratorium raise concerns about the company's financial health and going concern status.