Unaudited Financial Results For The Quarter Ended June 30, 2025.
Awaiting price reaction for this filing.
Carnation Industries reported Q1 FY26 with zero revenue from operations, as the company has not commenced any business activity except administrative work. Total expenses of Rs. 9.25 lakhs (mainly employee costs of Rs. 6.40 lakhs and other expenses of Rs. 2.85 lakhs) resulted in a net loss of Rs. 9.25 lakhs and a negative EPS of Rs. (0.27), compared to a profit of Rs. 224.69 lakhs in Q1 FY25. The company is emerging from a Corporate Insolvency Resolution Process (CIRP); NCLT Kolkata approved a resolution plan in June 2024 under which the successful resolution applicant will receive shares. The company recently got BSE listing approval on March 26, 2025, and is planning a share-swap acquisition of Oniv Beverages Private Limited worth up to Rs. 5 crore in H1 FY26. All property, plant and equipment have been classified as 'held for sale', and the auditor flagged multiple emphasis-of-matter items including Rs. 233.84 lakhs of liabilities written back in FY25.
The stock is effectively a non-operating shell whose future depends entirely on the pending Oniv Beverages acquisition and execution of the resolution plan. Shareholders should expect continued losses, high uncertainty, and price volatility tied to the completion of the proposed reverse-style acquisition.