Williamson Magor & Company Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.

Going-concern doubtQualified audit opinionEmphasis of matterNet loss reportedRevenue declinedContingent liabilities increasedResults View source PDF Explain this filing

WILLAMAGOR · price

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₹29.17

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.5%+2.3% vs market

Investment Company peers, median of 61sector-1.0%+1.8% vs sector

On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 1.8 pts more than its Investment Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Williamson Magor reported its unaudited results for the quarter and nine months ended December 31, 2025, with the auditor issuing a qualified conclusion. The company's net worth has been fully eroded, and the auditor flagged material uncertainty about its ability to continue as a going concern, noting it depends on continued lender and promoter support. Total income fell sharply versus the prior year period, and the company posted a consolidated loss after tax of about Rs. 196.79 crore for the nine months. A major new risk is an ICC arbitration award of Rs. 508.96 crore against the company (jointly with seven others) tied to a default on loans from InCred/Real Touch Finance, which the company has challenged in the Delhi High Court. The company also defaulted on IL&FS debentures, has not recognised interest expense of about Rs. 32.33 crore on inter-corporate borrowings for 9M FY26, and its NBFC registration remains cancelled with a writ petition pending.

Likely market impact

This is a deeply negative filing for shareholders. The auditor has qualified the results and explicitly questioned the going concern assumption, while a Rs. 508+ crore arbitration liability looms if the Delhi High Court appeal fails. With fully eroded net worth, ongoing loan defaults, and NBFC registration issues, the equity carries significant risk and limited visibility on recovery.