We wish to inform that the Board of Directors of the Company at their Meeting held today i.e., November 14, 2025, had, inter alia, approved the Un-audited Standalone and Consolidated Financial ....
Awaiting price reaction for this filing.
NFCL's board approved Q2 FY26 results showing zero revenue from operations, as the company has been classified as 'not a going concern' with all business operations discontinued since June 2024 following the sale of all assets via SARFAESI. The company reported a loss of Rs. 502.36 lakhs for Q2 and Rs. 1,128.15 lakhs for H1 FY26, with negative other equity of Rs. 99,738.05 lakhs and current liabilities exceeding current assets by Rs. 87,198.29 lakhs. Disputed contingent liabilities stand at around Rs. 1,115.80 crores (water cess, arbitration awards), with an additional Rs. 836.67 crores royalty claim from related party NACL. The auditor (P. Murali & Co) issued a limited review with an emphasis of matter on the going concern issue, contingent liabilities, GAIL arbitration dispute, and related party claims. Additionally, a change in promoter was noted, with Agri Vestors Private Limited acquiring 45.44% stake from Amlika Mercantile at Rs. 4.31 per share.
NFCL continues to operate as a shell company with no revenue-generating business, deeply negative net worth, and substantial disputed claims that could materially affect shareholders if resolved unfavourably. The stock is in a precarious state, and any recovery depends on the outcome of the GAIL arbitration case and government subsidy claims — making this a high-risk, speculative situation for retail investors.