Williamson Magor & Company Limited has informed the Exchange regarding Board meeting held on February 12, 2026.
WILLAMAGOR · price
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Awaiting price reaction for this filing.
The Board of Directors, at its meeting on February 12, 2026, approved the un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The statutory auditor, V. Singhi & Associates, issued a qualified conclusion, flagging serious concerns including fully eroded net worth and a material uncertainty on the company's ability to continue as a going concern. The company has defaulted on repayment of principal and interest to multiple lenders, has not recognised interest expenses of around Rs. 1.08 crore for the quarter and Rs. 3.23 crore for nine months on inter-corporate borrowings, and is contesting a Rs. 50.9 crore joint liability arbitration award from the International Chamber of Commerce in the Delhi High Court. The Board also re-appointed M/s R. Dugar & Associates as Internal Auditors for FY 2026-27. The company's NBFC registration, cancelled by the RBI in 2022, remains in dispute before the Calcutta High Court.
This is a deeply negative filing for shareholders. The auditor's qualified opinion, going concern uncertainty, large unreconciled balances, ongoing defaults, and major litigation exposure signal severe financial distress. The consolidated nine-month total comprehensive loss runs into hundreds of crores, EPS is sharply negative, and any adverse ruling in the arbitration case or the NBFC licence matter could materially worsen the company's already weak position. The stock is likely to remain highly risky and volatile.