SIP Industries Limited reported a net loss of ₹71.68 lakh for the financial year ended March 31, 2026, widening from a loss of ₹29.10 lakh in the previous year. The company’s net worth has turned negative, standing at a deficit of ₹133.07 lakh, which has raised a material uncertainty regarding its ability to continue as a going concern. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026.

The total expenses for the year increased to ₹71.68 lakh from ₹29.10 lakh in FY25, driven by employee benefit expenses of ₹17.30 lakh and other expenses of ₹54.38 lakh. The company reported zero income from operations for both the quarter and the year ended March 31, 2026. Consequently, the basic and diluted loss per share for the year stood at ₹1.53, compared to ₹0.62 in the previous year.

Financial Performance

The standalone financial results indicate a challenging financial position with no operational revenue. The company’s accumulated losses amounted to ₹600.70 lakh as of March 31, 2026. The auditor, Murali & Venkat, highlighted the material uncertainty related to the going concern status in their report.

Regulatory and Listing Status

The company’s securities remain under a suspended listing status. Management took over through the Corporate Insolvency Resolution Process (CIRP) pursuant to an NCLT order dated April 25, 2022. A listing application filed with BSE was rejected, and the company is now preparing to file a fresh application. Additionally, applications for the revocation of suspension and in-principle approval are pending review by the BSE.

The board has authorized the directors to sign the audited financial statements and approved the dissemination of results to the stock exchange. The meeting was conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SIP Industries Limited has announced a key change in its managerial structure, with the Board of Directors approving the appointment of a new Company Secretary and Compliance Officer at its meeting held on Wednesday, May 6, 2026. The development was disclosed to BSE Limited in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 11:40 A.M. and concluded at 11:50 A.M.

Change in Key Managerial Personnel

The board formally took note of the resignation of Ms. Smriti Joy (Membership No. A78584) from the position of Company Secretary and Compliance Officer, a Key Managerial Personnel role, with effect from February 28, 2026. Consequent to this vacancy, the board approved the induction of Mr. Hamidh Khan (Membership No. A80251) to the same role, effective May 6, 2026.

Appointment Details

The following details pertaining to the appointment have been disclosed as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026:

Regulatory Compliance

The disclosure was submitted to the Department of Corporate Services, BSE Limited, and is also set to be uploaded on the company's official website. The announcement was signed by Samiayya Arularasan, Managing Director (DIN: 09407539), on behalf of SIP Industries Limited, headquartered in Chennai.