as per pdf attached.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved unaudited results for Q3 and nine months ended Dec 31, 2025. The company reported zero operating revenue, with only 'other income' of Rs. 15.02 lakhs in Q3 (vs Rs. 36.57 lakhs in Q3 FY25) and Rs. 52.98 lakhs for 9M FY26 (down ~40% from Rs. 88.56 lakhs in 9M FY25). Net loss for 9M FY26 narrowed to Rs. 10.84 lakhs from Rs. 35.78 lakhs loss in the prior period, and Q3 swung to a small profit of Rs. 4.63 lakhs. The statutory auditor Asha & Associates issued a Qualified Opinion flagging a previous CFO fraud by Mr. Ankit Sharma involving misappropriation of Rs. 88.17 lakhs (still unrecovered) and a material weakness in internal financial controls. The auditor also raised concerns about Rs. 5.32 crore in advances for Gurugram land, Rs. 4.21 crore in undocumented loans/advances, and Rs. 6.05 crore in training expense payments—together totaling over Rs. 15.5 crore without proper documentation. The board allotted 2.37 crore equity shares (Rs. 1 face value) to Aryadeep Tie Up Pvt Ltd on conversion of warrants, receiving Rs. 1.78 crore (75% of issue price). An EGM was also called to regularize an additional director.
This is a significant negative for shareholders: the qualified audit opinion highlights major governance failures including a confirmed CFO fraud, material weakness in controls, and large undocumented cash outflows, raising serious questions about management credibility. Combined with zero operating revenue, declining other income, and continued losses, the stock may face regulatory scrutiny and downward pressure. Existing shareholders are also being diluted by the preferential warrant conversion.