Un-audited financial results for the third quarter and nine months ended December 31, 2025
Awaiting price reaction for this filing.
Neogem India, a gems and jewellery company based in Mumbai's SEEPZ, has reported essentially zero revenue for the third quarter of FY26. Manufacturing activities have been completely shut down since January 2018, and the company is in a restructuring/revival phase with no clear timeline for restarting operations. The company has a deeply negative net worth of about Rs. 35.91 crore, with a net loss of roughly Rs. 18.8 lakh reported just for the December quarter and a much larger cumulative loss for the nine-month period. Bank borrowings from Punjab National Bank (Rs. 10 crore) and Bank of India (Rs. 3 crore) were classified as non-performing assets back in FY16, with PNB having initiated recovery action under the SARFAESI Act. The auditor (Ashok Bairagra & Associates) issued both an Adverse Opinion and a Disclaimer of Opinion on these results, flagging material uncertainty about the company's ability to continue as a going concern.
This is an extremely negative filing for shareholders. The company is effectively non-operational, deeply insolvent, under SARFAESI action from its lead bank, and its own auditor cannot confirm the financial statements are fairly presented. The stock is highly speculative and distressed — any revival remains entirely uncertain and contingent on a resolution plan that has not materialised after years of attempts.