Unaudited Financial Results for the quarter and nine months ended 31st December, 2025

Going ConcernQualified OpinionEmphasis Of MatterPat NegativeExceptional ItemContingent Liabilities IncreasedResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%+5.5% vs market

Non Banking Financial Company (NBFC) peers, median of 207sector+0.0%+4.9% vs sector

On the reaction day the stock moved 5.5 pts more than Nifty Microcap 250 and 4.9 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 207Pending

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AI summary

Williamson Financial Services, an NBFC, reported a loss after tax of Rs. 44.75 lakh for Q3 FY26 and Rs. 44.75 lakh for the nine months ended December 2025, continuing losses from prior periods. Total income of Rs. 1.46 crore in Q3 was inflated by a one-time write-back of Rs. 1.90 crore in assets/investments, masking underlying weakness. The statutory auditor (V. Singhi & Associates) issued a qualified conclusion flagging that the company's net worth is fully eroded, raising material uncertainty about its ability to continue as a going concern. The auditor also highlighted non-recognition of Rs. 2.64 crore in interest expense on inter-corporate borrowings for the nine-month period, and inadequate provisioning on doubtful unsecured loans of Rs. 14.68 crore against which only Rs. 3.90 crore has been provided.

Likely market impact

This is a deeply negative filing for shareholders. The company faces a massive contingent liability of Rs. 50.9 crore from an ICC arbitration award (being challenged in Delhi HC), has negative Net Owned Funds of Rs. 211.94 crore violating RBI norms for NBFCs, and is technically insolvent with eroded net worth. Investors should view this as a high-risk situation with significant dilution or restructuring risk ahead.