IGC Industries reported a net loss of ₹1,462.03 lakh for the quarter ended June 30, 2026, a significant increase from the loss of ₹263.72 lakh recorded in the quarter ended March 31, 2026. The company’s financial performance for Q1FY27 was impacted by a substantial write-off of an advance amount totaling ₹9,31,59,000. This write-off was necessitated by a complaint received from the Directorate of Enforcement regarding the claiming of an advance against assets, which was part of a disputed transaction. Consequently, the company wrote off the amount in its books of accounts to ensure compliance with the regulatory department's waiver of the claim towards the assets.

The Board of Directors of IGC Industries met on July 13, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The meeting commenced at 5:30 P.M. and concluded at 6:00 P.M. The results were prepared in compliance with the Indian Accounting Standards (Ind AS) and were reviewed by the Audit Committee before being approved by the Board. The statutory auditors, Sarang Shivajirao Chavan and Associates, provided a Limited Review Report on the unaudited financial results, confirming there were no qualifications in their report.

Financial Performance

The company reported total expenses of ₹1,462.03 lakh for the quarter, a sharp rise from ₹263.72 lakh in the preceding quarter. Other expenses accounted for the majority of the costs, amounting to ₹1,462.03 lakh in Q1FY27, compared to ₹210.87 lakh in Q4FY26. Changes in inventories of finished goods, work in progress, and stock in trade were nil for the current quarter, compared to ₹30.35 lakh in the previous quarter. Employee benefits expense remained flat at nil for the quarter, while finance costs and depreciation were also recorded at nil.

Auditor's Review

Sarang Shivajirao Chavan and Associates, Chartered Accountants, conducted the limited review of the unaudited financial results for the quarter ended June 30, 2026. The review was performed in accordance with the Standard on Review Engagements (SRE) 2410 issued by the Institute of Chartered Accountants of India. The auditors noted that the financial results were prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34). The Independent Auditor's Review Report highlighted the emphasis of matter regarding the write-off of the advance amount and confirmed that no other material misstatements were identified during the review process.

The trading window for dealing in the securities of the company will remain closed for designated persons until 48 hours after the declaration of the financial results, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. The paid-up equity share capital of the company remained unchanged at ₹3,472.00 lakh during the reported period.

IGC Industries Limited has reported its audited financial results for the quarter and year ended March 31, 2026. The company recorded a net loss of ₹264 crore for the quarter, widening from a net loss of ₹5.40 crore in the corresponding period of the previous year. For the full financial year 2025-26, the net loss stood at ₹292.97 crore, a significant increase from the net loss of ₹6.17 crore reported in FY25.

Financial Performance

Revenue from operations for the quarter and year ended March 31, 2026, was nil. In the previous fiscal year ended March 31, 2025, the company had recorded revenue from operations of ₹198.51 crore. Total expenses for the year ended March 31, 2026, amounted to ₹292.97 crore, up from ₹204.68 crore in the prior year.

The company's basic and diluted earnings per share (EPS) for the year ended March 31, 2026, stood at a loss of ₹0.84, compared to a loss of ₹0.02 in the previous year. For the quarter ended March 31, 2026, the basic EPS was a loss of ₹0.76.

Auditor's Report

The statutory auditors, Sarang Shivajirao Chavan and Associates, issued a disclaimer of opinion on the financial statements. The auditors stated they could not obtain sufficient appropriate audit evidence regarding material items, specifically advances made to suppliers under "Current Assets- Other Current Assets" and an investment of ₹20 crore in shares of CNX Corporation Limited.

Additionally, the auditors highlighted that the company has incurred continuous losses during all four quarters of FY26 and the preceding financial year. This raises significant doubt about the company's ability to continue as a going concern, particularly as management did not provide a comprehensive assessment or mitigation plan to address these financial uncertainties.

Balance Sheet Highlights

The total assets of the company as of March 31, 2026, stood at ₹2145.34 lakh, a decrease from ₹5454.34 lakh as of March 31, 2025. Investments decreased to ₹752.73 lakh from ₹2038.88 lakh in the previous year. Equity share capital remained constant at ₹3472 lakh, while other equity turned negative at ₹(1326.67) lakh compared to ₹795.67 lakh in the prior year.