Fraser & Company Reports Net Loss and Appoints New Independent Director

Fraser & Company Limited, a company with roots dating back to 1917, has released its unaudited financial results for the quarter ended September 30, 2025, revealing ongoing financial challenges and strategic moves to strengthen its board.

Financial Performance

The company reported a net loss of Rs. 1.00 million for the quarter, with total income of Rs. 0.04 million. This performance reflects the company's continued struggle with profitability and revenue generation.

Particulars (in Rs. Million)	Q2 2025	Q2 2024	H1 2025	H1 2024
Net Sales	0.00	2.19	0.00	2.19
Total Income	0.04	3.00	0.05	3.01
Total Expenses	1.04	10.98	1.96	12.08
Net Loss	(1.00)	(7.98)	(1.91)	(9.07)

The financial results indicate a significant decline in sales compared to the same period last year, with no sales recorded in the current quarter. The company's total income for the quarter stood at Rs. 0.04 million, primarily from other income sources.

Appointment of New Director

In a move to strengthen its corporate governance, Fraser & Company has appointed Ms. Rekha Naraniwal Rani as an Additional Director (Non-Executive & Independent) on the Board of Directors. The appointment, effective from November 14, 2025, is subject to shareholder approval at the next Annual General Meeting.

Ms. Naraniwal Rani, registered with the Independent Directors Databank, brings requisite qualifications and skills to her new role. Her appointment aligns with the company's efforts to enhance its leadership team during challenging times.

Going Concern Issues

The company faces significant going concern uncertainties due to accumulated losses and a negative net current asset position. Management remains optimistic about potential revival, citing plans for residential projects and debt reduction. However, the company's ability to continue as a going concern remains a critical concern for stakeholders.

Trading Suspension and Legal Challenges

Fraser & Company continues to face operational hurdles, including:

Suspension from trading on the Calcutta Stock Exchange Limited (CSE)
Ongoing litigation, with three creditors filing recovery suits against the company
Challenges in providing balance confirmations for significant trade receivables and payables

Despite these challenges, the company has made progress in resolving some financial disputes. A settlement was reached for receivables of Rs. 82.62 million, with the company receiving Rs. 40.00 million in demand drafts and four residential flats in lieu of the remaining amount.

As Fraser & Company navigates through these financial and operational challenges, the appointment of Ms. Naraniwal Rani as an independent director may bring fresh perspectives to the company's revival efforts. Stakeholders will be closely watching the company's future moves and potential turnaround strategies in the coming months.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.79%	-4.42%	-4.54%	+14.29%	-31.79%	+108.50%

Fraser & Company Limited has successfully concluded a settlement agreement with Shradha Landmark Private Limited, resolving a long-standing dispute over pending invoices worth Rs. 8.00 crores. The settlement, which follows an order from the National Company Law Appellate Tribunal (NCLAT) dated September 3, 2025, marks a significant development for the company.

Settlement Terms

The agreement, executed on September 18, 2025, outlines a two-part payment structure:

Cash Payment: A sum of Rs. 4.00 crores has been paid via demand draft. This amount was received and credited to Fraser & Company's account on September 21, 2025.
Property Transfer: The remaining Rs. 4.00 crores will be settled through the transfer of four 2-BHK flats in Shiv Mangal Residency, located in Bhandup, Mumbai.

Background of the Dispute

The dispute originated from trade receivables dating back to 2017-18. Fraser & Company initiated litigation in the National Company Law Tribunal (NCLT) in 2023, which was admitted in August 2025. The recent settlement comes as a resolution to this ongoing legal process.

Property Details

The four flats to be transferred are part of the Shiv Mangal Residency project, which has the RERA Registration Number P51800051741. The property is described as a redevelopment of the "Shiv Mangal Co-Operative Housing Society Limited" and is situated on Plot No.10 of Friends Housing Colony, Bhandup (E), Mumbai-400042.

Timeline and Expectations

Possession of Flats: Fraser & Company expects to receive possession of the flats by December 22, 2025.
Occupational Certificate: The company anticipates obtaining the occupational certificate for the flats by March 22, 2026.

Financial Implications

Fraser & Company has disclosed that it has approximately Rs. 5.00 crores in payables to operational creditors against these settlement receipts. This information provides context to the company's financial position following the settlement.

Corporate Insolvency Resolution Process (CIRP)

As part of the settlement agreement, the CIRP initiated against Shradha Landmark Private Limited is set to be withdrawn, subject to certain conditions. This development marks the end of the insolvency proceedings related to this dispute.

Management Statement

Omkar Rajkumar Shivhare, Managing Director of Fraser & Company Limited, signed the disclosure, emphasizing the company's commitment to resolving the dispute and securing the transaction in favor of Fraser & Company Limited.

This settlement represents a significant resolution for Fraser & Company Limited, potentially improving its financial position and reducing legal uncertainties. Investors and stakeholders will likely monitor the completion of the property transfer and its impact on the company's future financial statements.