Q2 FY26 results approved; auditor issues qualified opinion on consolidated

Qualified audit opinionEmphasis of matterGoing-concern doubtNegative operating cash flowResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.9%Reaction day

₹33.80

prior close

₹33.13

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-2.8% vs market

Civil Construction peers, median of 97sector-0.6%-2.3% vs sector

On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 2.3 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 97Pending

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AI summary

Board approved Q2/H1 FY26 results. Standalone PBT Rs 539 Lakh on income Rs 2,545 Lakh, EPS Rs 0.35. Auditor issued qualified opinion on consolidated results citing subsidiary issues including an abandoned NHAI project with Rs 98,618 Lakh arbitration and Rs 38,510 Lakh EPC claim pending. Emphasis of matters cover Rs 2,100 Lakh resolution plan, missing gratuity provision, and Rs 438 Lakh unbilled revenue. Operating cash flow turned negative. Penalty for delayed Annual Report paid.

Likely market impact

Profitability shown but qualified audit opinion, negative operating cash flow, and big contingent claims raise concern over subsidiary health.