Coromandel Engineering Reports Net Loss in Q2 FY26 Amid Preferential Equity Issue
Coromandel Engineering Company Limited reported a net loss of ₹69.12 lakhs in Q2 FY26, compared to a profit of ₹41.49 lakhs in Q2 FY25. The company raised ₹6.61 crores through a preferential equity issue, with ₹32.90 lakhs utilized for corporate purposes and projects. The Board of Directors approved Q2 and H1 FY26 results and reviewed the Limited Review Report. Mr. V Ramakrishnan resigned as Vice President - New Venture on November 10, 2025.
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Coromandel Engineering Company Limited , a player in the construction business segment, has announced its financial results for the second quarter of the fiscal year 2025-26, revealing a shift to net loss amid ongoing corporate activities.
Financial Performance
The company's unaudited financial results for the quarter ended September 30, 2025, paint a challenging picture:
| Metric | Q2 FY26 | Q2 FY25 | Change |
|---|---|---|---|
| Total Revenue | ₹3,994.05 | - | - |
| Net Profit/(Loss) | (₹69.12) | ₹41.49 | ↓266.60% |
Coromandel Engineering reported a net loss after tax of ₹69.12 lakhs for the quarter, a significant downturn compared to the net profit of ₹41.49 lakhs in the corresponding quarter of the previous year.
Corporate Actions
During the quarter, the company took steps to strengthen its financial position:
- Preferential Equity Issue: Coromandel Engineering raised ₹6.61 crores through a preferential equity issue.
- Fund Utilization: Out of the raised amount, ₹32.90 lakhs were utilized for general corporate purposes and upcoming projects.
Management Oversight
The Board of Directors convened on November 11, 2025, to review and approve these financial results. The meeting, which commenced at 12:30 PM and concluded at 02:25 PM, also addressed other corporate matters:
- Approval of the un-audited financial results for Q2 and H1 FY26.
- Review of the Limited Review Report issued by the statutory auditors, M/s. CNGSN & Associates LLP.
- Confirmation of no deviation in the use of proceeds from the allotment of 16,49,840 equity shares.
Regulatory Compliance
In line with SEBI regulations, the company has:
- Scheduled publication of financial results in English and regional newspapers.
- Made the detailed financial results available on the company's website ( www.coromandelengg.com ) and the stock exchange website.
- Submitted a statement confirming no deviation in the use of proceeds from the preferential allotment.
Recent Management Changes
On November 10, 2025, Mr. V Ramakrishnan resigned from his position as Vice President - New Venture, citing personal reasons. This change in senior management may have implications for the company's strategic direction moving forward.
As Coromandel Engineering navigates through these financial challenges and corporate developments, stakeholders will be keenly watching how the company utilizes its newly raised capital and addresses the factors contributing to its current loss position.
Historical Stock Returns for Coromandel Engineering Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.74% | -17.77% | +24.15% | +47.10% | +57.18% | +216.11% |
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