Tarapur Transformers Ltd

Q1 FY27 standalone results

• Unaudited standalone results for quarter ended 30 June 2026 approved; Limited Review Report attached.
• Auditors qualified on several matters; conclusion modified.
• Net worth negative Rs 283.49 lakhs as of 30 June 2026; going concern uncertainty.
• SEBI Show Cause Notice issued; company to file a reply.
• Land and factory asset mortgaged; offer for sale not executable; not reclassified as held-for-sale.
• Loans from Upsurge Investment & Finance: principal repayment not made; interest accrues; balance confirmations pending.
• No loan documentation provided for loans/advances; reports note improprieties.
• Company: single-segment transformer manufacturing and repair business; Ind AS 108 not applicable.
• 38th AGM scheduled 29 Sep 2026; e-voting 26–28 Sep; book closure 23–29 Sep.

Certificate submission

• Certificate submitted by the Registrar and Transfer Agent for the reporting period.

Financial Performance 📊

• Q3 FY26 revenue from operations: Rs. 50.75 lakhs, up from Rs. 9.95 lakhs in Q3 FY25.
• Q3 FY26 net loss: Rs. 24.27 lakhs vs. Rs. 87.34 lakhs loss in Q3 FY25.
• Nine months FY26 revenue: Rs. 113.64 lakhs; net loss: Rs. 59.09 lakhs.
• Exceptional item: Rs. 43.15 lakhs provision reversed related to bad and doubtful advances.
• Other income includes Rs. 35 lakhs recovered from previously written-off bad debts.
• Cost of materials consumed and employee benefits expense are significant cost components.

Operations & Corporate Actions 🧱📍

• Single business segment: manufacturing and repair of transformers.
• Board approved unaudited standalone Q3 and nine months FY26 results on 11 Feb 2026.
• Limited review by auditors issued with no modifications or material misstatements noted.

Risks & Legal ⚠️

• Company filed for Corporate Insolvency Resolution Process against Choudhary Global Ltd for Rs. 8.66 crores.

Financial Performance 📊

• Board approved unaudited standalone results for Q3 and nine months ended 31 Dec 2025.
• Total income for nine months ended 31 Dec 2025 was Rs. 113.64 lakhs; net loss Rs. 59.09 lakhs.
• Basic and diluted EPS were negative for the nine-month period.
• Provision reversal of Rs. 43.15 lakhs related to bad and doubtful advances against Choudhary Global Limited.
• Rs. 35 lakhs recovered and accounted as bad debts written back from M/S Deekay Iron and Steel Pvt Ltd.
• Paid-up equity share capital is Rs. 19.50 crores.

Regulatory and Legal Actions ⚠️

• Company filed application under IBC 2016 with NCLT Mumbai against Choudhary Global Limited for Rs. 8.66 crores.

Audit and Compliance

• Limited Review Report issued with no material misstatements or modifications noted by auditors.