Outcome of Board Meeting held on 26th May 2026
WILLAMAGOR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Williamson Magor & Co. Ltd reported a Total Income of Rs 15.27 crore for FY2026 with a Loss After Tax of Rs 12.54 lakh. The company's net worth has been fully eroded, showing negative equity of Rs 21.59 crore. The statutory auditors issued a qualified opinion with six major audit qualifications. Key concerns include: (1) Material uncertainty about the company's ability to continue as a going concern, (2) Non-recognition of Rs 4.29 crore in interest expenses on inter-corporate borrowings, (3) Default on IL&FS debentures with Neemrana land sold for Rs 9.02 crore to settle dues, (4) Unreconciled balances for receivables and borrowings, and (5) Deferred Tax Assets of Rs 12.65 crore potentially overstated. Additionally, the company faces an ICC arbitration award of Rs 50.89 crore (joint liability) for a loan default, which has been challenged in Delhi High Court. The RBI cancelled the company's NBFC license in 2022, and restoration efforts are pending in Calcutta High Court.
The stock is extremely high-risk. The company has negative net worth, multiple loan defaults, ongoing litigation, and auditors have raised serious doubts about its ability to continue as a going concern. Shareholders face potential total loss of investment.