Q3 FY26 results approved; auditor flags multiple serious concerns

Emphasis of matterRelated-party transactionsContingent liabilities increasedResults View source PDF Explain this filing

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

+1.5%Reaction day

₹9.92

prior close

₹10.27

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+3.7%-2.2% vs market

Other Electrical Equipment peers, median of 45sector+4.4%-2.9% vs sector

On the reaction day the stock moved 2.2 pts less than Nifty Microcap 250 and 2.9 pts less than its Other Electrical Equipment 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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Sessions after the filingfrom the prior close

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Reaction day

+1.5+3.7-2.2+4.4-2.9

Next day

+2.7+5.1-2.4+7.2-4.5

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+1.2+3.2-2.0+6.0-4.8

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15d

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UpDownMarket · Nifty Microcap 250Sector · Other Electrical Equipment peers, median of 45Pending

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AI summary

Board approved Q3 FY26 unaudited results. Standalone 9M revenue rose 24% to Rs 49.34 cr, PAT up 34% to Rs 1.63 cr. But auditor raised serious concerns: no documents for Rs 46.35 cr mine project investment, Rs 70.59 cr receivables without confirmations, Rs 34.25 cr old payables, Rs 90 lakh SEBI penalty for disclosure lapses, multiple GST demand notices. Company also incorporated a UK subsidiary and appointed new Company Secretary Sakshi Arora.

Likely market impact

Standalone growth is positive, but auditor red flags on documentation, SEBI penalty, and GST demands raise serious governance and going concern concerns for investors.