SEL Manufacturing Company Limited reported a widened net loss of ₹16,787.23 lakh for the financial year ended March 31, 2026, compared to a net loss of ₹13,071.99 lakh in the previous year. The company's total income from operations for the year stood at ₹1,564.65 lakh, a significant decline from ₹3,314.75 lakh in FY25. The statutory auditors have highlighted a material uncertainty regarding the company's ability to continue as a going concern due to severe liquidity stress and continuous defaults on financial obligations.

Financial Performance

The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. For the quarter ended March 31, 2026, the company reported a net loss of ₹4,186 lakh on a total income of ₹245.51 lakh. Finance costs surged to ₹8,045.87 lakh for the full year, while depreciation and amortization expenses stood at ₹8,786.68 lakh.

Auditor's Observations

Kamboj Malhotra & Associates, the statutory auditors, issued a qualified opinion on the financial results. The qualification stems from the company's failure to conduct an impairment assessment of its Property, Plant and Equipment and Capital Work in Progress as required under Ind AS 36, citing financial constraints. The auditors stated that the financial impact of this matter cannot be measured reliably.

Going Concern and Liquidity

The auditors emphasized significant doubts about the company's ability to continue as a going concern. The company has defaulted on quarterly installments amounting to ₹30,872 lakh and unpaid interest and charges totaling ₹19,343 lakh for the period from July 2023 to March 2026. Current liabilities exceeded current assets, resulting in a negative net worth of ₹39,957.98 lakh as of March 31, 2026. The company's major plants remained shut during the year, and operations were largely sustained through job work activities.

SEL Manufacturing Company Limited has informed stock exchanges about the resignation of its Company Secretary cum Compliance Officer, marking a key leadership change in the organization's compliance function.

Leadership Transition Details

Ms. Ratika Khandelwal (A-62610), who served as Company Secretary cum Compliance Officer, has resigned from her position due to personal reasons. The resignation became effective from the close of business hours on March 13, 2026.

Regulatory Compliance

The company has fulfilled its regulatory obligations by notifying both BSE Limited and National Stock Exchange of India Limited about this leadership change. The intimation was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The notification specifically complies with sub-para 7C of Para A of Part A of Schedule III of LODR Regulations, ensuring transparency in corporate governance matters. The company also referenced SEBI Circular No SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, demonstrating adherence to current regulatory guidelines.

Formal Documentation

Ms. Khandelwal submitted her formal resignation letter to the Board of Directors, expressing gratitude for the opportunities and learning experiences during her tenure. In her resignation letter, she acknowledged the support and cooperation extended by the Board of Directors and management throughout her association with the company.

The resignation letter also requested the Board to arrange for filing necessary forms and compliances with the Registrar of Companies, ensuring proper procedural completion of her departure.

Company Information

SEL Manufacturing Company Limited, with CIN L51909PB2000PLC023679, operates from its registered office at 274, Dhandari Khurd G.T. Road Ludhiana- 141014. The company trades on stock exchanges with scrip code 532886 on BSE and symbol SELMC on NSE.

The notification was signed by Director Meghna Mahendra Savla (DIN: 09152133) on March 14, 2026, completing the formal communication process to stakeholders and regulatory authorities.