News Earnings CMX Holdings Limited Reports Q3 FY26 Net Loss of ₹1,778 Thousand Amid Operational ConstraintsCMX Holdings Limited Reports Q3 FY26 Net Loss of ₹1,778 Thousand Amid Operational Constraints
CMX Holdings Limited reported a net loss of ₹1,778 thousand for Q3 FY26 with total income of ₹235 thousand from other sources only. The company faces operational restrictions from RBI rejection of its NBFC application and has accumulated losses of ₹2,41,771 thousand. Shareholders approved major corporate changes including name change to Riwind Green Energy Limited and authorized capital increase to ₹2,500 crore, subject to regulatory approvals.
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CMX Holdings Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing continued operational challenges and mounting losses. The company's Board of Directors approved these results during a meeting held on January 27, 2026.
Financial Performance Overview
The company's financial performance for Q3 FY26 reflects ongoing difficulties in its business operations:
| Metric | Q3 FY26 | Q3 FY25 | Nine Months FY26 | Nine Months FY25 |
|---|---|---|---|---|
| Total Income | ₹235 thousand | ₹(100) thousand | ₹1,135 thousand | ₹2,031.03 thousand |
| Net Loss | ₹(1,778) thousand | ₹(1,370.43) thousand | ₹(4,603.79) thousand | ₹(1,344.36) thousand |
| Basic EPS | ₹(0.16) | ₹(0.12) | ₹(0.41) | ₹(0.12) |
Revenue and Expense Analysis
CMX Holdings reported no revenue from operations during the quarter, with total income of ₹235 thousand coming entirely from other income sources. This represents an improvement from the negative ₹100 thousand recorded in Q3 FY25. However, the company's expenses significantly outweighed its income:
| Expense Category | Q3 FY26 | Q3 FY25 |
|---|---|---|
| Employee Benefits | ₹258.38 thousand | ₹609.01 thousand |
| Finance Cost | ₹1,209.97 thousand | ₹- |
| Other Expenses | ₹544.66 thousand | ₹661.42 thousand |
| Total Expenses | ₹2,013 thousand | ₹1,270.43 thousand |
Operational Constraints and Going Concern Issues
The company faces severe operational limitations as it is not permitted to carry non-banking financial business due to the rejection of its application by the Reserve Bank of India. Current operations are restricted to income from services and realization of debtors and advances. The company has accumulated losses of ₹2,41,771 thousand as of December 31, 2025, which has completely eroded its net worth.
Corporate Developments
During the quarter, shareholders approved several significant resolutions through postal ballot concluded on December 25, 2025:
- Appointment of whole-time directors and independent directors
- Increase in authorized share capital from ₹30 crore to ₹2,500 crore
- Alteration of Memorandum and Articles of Association
- Shifting of registered office from Madhya Pradesh to Maharashtra
- Change of company name to 'Riwind Green Energy Limited' (subject to approvals)
Auditor Observations
The statutory auditors issued a qualified review report highlighting several concerns including unconfirmed borrowings of ₹54,262.21 thousand in non-current borrowings and ₹14,587.17 thousand in current borrowings. The auditors noted material uncertainty regarding the company's ability to continue as a going concern due to accumulated losses and negative operating cash flows.
Financial Position
The company's paid-up equity share capital stands at ₹113,437.52 thousand with a face value of ₹10 per share. The earnings per share for Q3 FY26 was ₹(0.16) compared to ₹(0.12) in the corresponding quarter of the previous year, indicating deteriorating per-share performance.
Historical Stock Returns for CMX Holdings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.98% | -10.35% | -0.12% | +282.59% | +20.30% | +2,310.15% |
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