SPEL Semiconductor Limited has notified stock exchanges of an upcoming Board of Directors meeting, scheduled for Tuesday, May 19, 2026, at 10:35 AM. The intimation has been filed pursuant to Regulation 29(1) and Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Board Meeting Agenda

The primary agenda of the board meeting is the consideration and approval of the company's audited standalone financial results. The following details summarize the key parameters of the scheduled meeting:

Trading Window Closure

In connection with the upcoming financial results declaration, SPEL Semiconductor has also communicated the status of the trading window for designated persons. The trading window for dealing in the shares of the company by designated persons and their immediate relatives has been closed with effect from March 31, 2026, as previously intimated vide the company's letter dated March 26, 2026.

The trading window shall remain closed until 48 hours after the declaration of the audited standalone financial results for the quarter and financial year ended March 31, 2026. This measure is in compliance with applicable SEBI regulations governing insider trading restrictions during periods of unpublished price-sensitive information.

The intimation was signed by P. Balamurugan, Head Operations & Whole-Time Director (DIN: 07480881), on behalf of SPEL Semiconductor Limited.

SPEL Semiconductor Limited announced its unaudited financial results for the quarter ended December 31, 2025, revealing significant operational challenges and continued losses. The company's Board of Directors, in their meeting held on April 15, 2026, approved the quarterly results under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Outcome

Pursuant to Regulation 30, 33 and other applicable provisions of SEBI regulations, the Board of Directors approved the unaudited financial results as per Indian Accounting Standards (IndAS) for the quarter ended December 31, 2025. The board meeting commenced at 10:00 AM and concluded at 2:50 PM on April 15, 2026. The results were submitted to the Audit Committee for review before receiving board approval.

Financial Performance Overview

The company reported substantial losses for the quarter, reflecting ongoing operational difficulties and market challenges across key financial metrics.

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, showed continued pressure on the company's financial position. Total revenue from operations declined to ₹409.58 lakhs compared to ₹541.17 lakhs in the corresponding period of the previous year. The company reported a net loss of ₹2,461.15 lakhs for the nine-month period, significantly higher than the ₹1,305.07 lakhs loss in the previous year.

Operational Expenses and Exceptional Items

The company's expense structure revealed several areas of concern during the quarter:

Exceptional items of ₹458.26 lakhs during the quarter primarily consisted of inventory written off, contributing significantly to the overall loss.

Balance Sheet Position and Strategic Measures

As of December 31, 2025, the company's balance sheet showed total assets of ₹11,530.81 lakhs compared to ₹12,809.50 lakhs as of March 31, 2025. The equity position turned negative at ₹442.52 lakhs, indicating severe financial stress. Assets held for sale increased to ₹3,591.81 lakhs from ₹3,079.81 lakhs, reflecting the company's efforts to monetize assets.

To address liquidity challenges, the Board of Directors approved the sale of 3.8 acres of land from the company's immovable property. The company has suspended factory operations pending further fund infusion, as reported to BSE on January 14, 2026.

Auditor's Qualified Review

The statutory auditors issued a qualified review report, highlighting material uncertainty regarding the company's ability to continue as a going concern. The auditors noted the company's history of losses, negative cash flows, and current operational challenges. Despite these concerns, the financial statements have been prepared on a going concern basis, pending resolution of the underlying issues. The company identified only one reportable segment - manufacture and sale of Integrated Circuits.