Foundry Fuel Products reports FY26 net loss of ₹25.76 lakh
Foundry Fuel Products Limited reported a net loss of ₹25.76 lakh for FY26, widening from ₹24.69 lakh in the previous year. With no business operations, the company recorded a negative net worth of ₹150.03 lakh. The auditors highlighted a material uncertainty regarding its going concern status, though management expects support from its holding company.
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Foundry Fuel Products Limited reported a net loss of ₹25.76 lakh for the financial year ended March 31, 2026, widening from a loss of ₹24.69 lakh in the previous year. The company, which currently has no business operations, recorded a negative net worth of ₹150.03 lakh as of March 31, 2026, compared to a negative net worth of ₹124.28 lakh in the prior year. The Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, in a meeting held on May 28, 2026.
The financial statements were audited by Bohra & Co., Chartered Accountants, who issued an unqualified opinion. However, the auditors drew attention to a material uncertainty related to the company's status as a going concern. The auditors noted that the company is looking for a new suitable business project and has incurred losses due to administrative and other expenses. Current liabilities exceed current assets, and depreciable fixed assets were fully depreciated in the previous year considering no significant recoverable value.
The company has received a commitment from its holding company to infuse funds as and when required for working capital or any other shortfall arising from the lack of operations. Based on this support, management believes the accounts can be prepared on a going concern basis. The auditors stated that their opinion was not modified in respect of this matter.
Total expenses for FY26 stood at ₹25.76 lakh, slightly higher than ₹24.69 lakh in the previous year. Employee benefits expense for the year was ₹1.17 lakh, up from ₹1.08 lakh, while finance costs were ₹8.89 lakh compared to ₹7.62 lakh. Administrative and other expenses decreased to ₹15.70 lakh from ₹15.99 lakh. Revenue from operations and other income remained nil for the period as there were no business activities.
The company's paid-up equity share capital remained constant at ₹801.94 lakh. Earnings per share (EPS) for the year was a loss of ₹0.32, compared to a loss of ₹0.31 in the previous year. The cash and cash equivalents at the end of the year stood at ₹3.10 lakh, down from ₹3.74 lakh at the end of the previous year. The net cash used from operating activities was ₹16.88 lakh, while net cash generated from financing activities was ₹16.24 lakh.
Financial Results for FY26
| Particulars | Year ended 31st March, 2026 (Audited) | Year ended 31st March, 2025 (Audited) |
|---|---|---|
| Total Income | - | - |
| Total Expenses | 25.76 | 24.69 |
| Profit/(Loss) before tax | (25.76) | (24.69) |
| Net Profit/(Loss) for the year | (25.76) | (24.69) |
| Paid-up Equity Share Capital | 801.94 | 801.94 |
| Earnings Per Share (Basic) | (0.32) | (0.31) |
Assets and Liabilities as at 31st March, 2026
| Particulars | As at 31st March, 2026 (Audited) | As at 31st March, 2025 (Audited) |
|---|---|---|
| Total Assets | 12.74 | 13.41 |
| Non-current assets | 9.63 | 9.63 |
| Current assets | 3.10 | 3.78 |
| Total Equity and Liabilities | 12.74 | 13.41 |
| Equity | (150.03) | (124.28) |
| Current liabilities | 162.77 | 137.69 |
What types of business projects is Foundry Fuel Products Limited actively evaluating, and what timeline does management anticipate for resuming operations?
How long can the holding company sustain its financial commitment to Foundry Fuel Products given the compounding negative net worth, which has now reached ₹150.03 lakh?
With current liabilities of ₹162.77 lakh vastly exceeding total assets of ₹12.74 lakh, what restructuring or revival mechanisms could regulators or creditors potentially trigger?
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