Shree Narmada Aluminium Industries Ltd

Financials

• Revenue from operations: Nil; total income 6.68 Lakh from other income.
• Profit before tax: 0.60 Lakh; profit for the period: 0.60 Lakh.
• EPS (basic/diluted): 0.12 per share.
• Auditors' review: limited review with qualified opinion; going concern qualification noted.
• No separate reportable segments under IND AS 108; business is aluminium trading.
• Company classified as sick; scheme of arrangement confirmed; Bharuch factory possession obtained.
• Cash flow: Operating activities net outflow 3.85 Lakh; financing inflow 6.84 Lakh.
• Net cash increase: 2.99 Lakh; opening cash: 1.24 Lakh; estimated closing cash: 4.23 Lakh.
• Board approved unaudited results on 11 August 2026.

Board approvals

• Unaudited standalone Q1 FY2026 results for quarter ending 30 June 2026 approved; limited review report taken on record.
• Audit Committee recommended the results; Board approved the unaudited results.

Auditor remarks

• Auditors' limited review notes going concern qualification due to erosion of net worth.
• Management remains confident going concern is sustainable despite net worth erosion.

Regulatory / legal updates

• Scheme under Sick Industrial Companies Act 1985 confirmed; Bharuch factory possession obtained.
• Company filed caveat before Supreme Court; Supreme Court order passed 04 August 2025 supporting scheme.

Shree Narmada Aluminium Industries Ltd trading window closed from July 1, 2026; shall be opened after 48 hours of conclusion of the Board meeting at which the unaudited financial results for the quarter ended June 30, 2026 shall be approved.

Financial Performance 📊

• Q3 FY26 revenue from operations was nil; total income was Rs 61.84 lakhs, flat YoY due to other income.
• Q3 FY26 net loss was Rs 6.05 lakhs versus profit of Rs 60.31 lakhs in Q3 FY25.
• Nine months FY26 net loss stood at Rs 22.80 lakhs versus profit of Rs 47.92 lakhs in prior year.
• Basic and diluted EPS for Q3 FY26 was negative Rs 1.16 versus positive Rs 11.58 in Q3 FY25.
• Employee expenses decreased to Rs 0.52 lakhs in Q3 FY26 from Rs 0.72 lakhs; other expenses declined to Rs 5.42 lakhs from Rs 14.80 lakhs.
• Finance costs were negligible; depreciation stable at Rs 0.11 lakhs in Q3 FY26.

Cash Flow & Borrowings

• Operating cash flow was negative Rs 28.33 lakhs for nine months FY26 versus negative Rs 13.92 lakhs prior year.
• Borrowings increased by Rs 34.87 lakhs in nine months FY26; cash and cash equivalents rose to Rs 1.78 lakhs.
• No capex or investing cash flows reported in the period.

Corporate & Legal

• Compromise scheme approved by Gujarat High Court in 2008 remains effective; secured creditor appeal rejected in March 2025.
• Other income of Rs 61.84 lakhs relates to write-back of a long-outstanding payable barred by limitation.
• Company remains classified as sick with fully eroded net worth; going concern assumption maintained despite uncertainty.
• Financials prepared under Ind AS 34; limited review report issued with unmodified opinion but repeated going concern qualification.

Business Model

• Company primarily engaged in aluminium trading; no separate reportable segments.

Financial Performance 📊

• Unaudited standalone results for Q3 ended December 31, 2025, approved.
• Net loss of Rs. 6.05 lakhs for Q3; net loss of Rs. 22.80 lakhs for nine months.
• Earnings per share: negative Rs. 1.16 for Q3; negative Rs. 4.38 for nine months.
• Other income includes Rs. 61.84 lakhs written back as old payable barred by limitation.
• No income tax provision; deferred tax asset not recognized due to losses.

Auditor Remarks ⚠️

• Limited review with qualification on going concern due to fully eroded net worth.
• Company classified as sick; compromise scheme approved by Gujarat High Court in 2008 remains effective.
• Auditor notes uncertainty on going concern but accounts prepared on going concern basis.

Regulatory and Legal Matters

• Company under Sick Industrial Companies Act; compromise scheme approved and implemented.
• Secured creditor’s appeal dismissed by Gujarat High Court in March 2025.
• Company filed caveat in Supreme Court opposing creditor’s application; scheme confirmed.

Cash Flow and Liquidity

• Net cash outflow from operations Rs. 28.33 lakhs for nine months ended December 31, 2025.
• Net cash inflow from financing activities Rs. 34.87 lakhs; cash and equivalents increased to Rs. 1.78 lakhs.