Grand Foundry Limited has announced its unaudited standalone financial results for the quarter ended December 31, 2025, revealing continued operational challenges with widened losses and zero revenue generation. The company's board approved these results during a meeting held on February 13, 2026.

Financial Performance Analysis

The company's financial performance showed deterioration across key metrics during Q3FY26:

For the nine-month period ended December 31, 2025, the company reported a net loss of ₹70.60 lakhs compared to ₹52.28 lakhs in the corresponding period of the previous year, representing a 35% increase in losses.

Expense Breakdown

The company's expense structure for Q3FY26 comprised:

• Employee Benefit Expenses: ₹2.97 lakhs (compared to ₹0.15 lakhs in Q3FY25)
• Finance Costs: ₹13.90 lakhs (compared to ₹9.97 lakhs in Q3FY25)
• Other Expenses: ₹7.16 lakhs (compared to ₹4.93 lakhs in Q3FY25)

Employee benefit expenses showed the most significant increase, rising from ₹0.15 lakhs to ₹2.97 lakhs year-over-year.

Ownership Changes and Corporate Developments

During the reporting period, Grand Foundry Limited underwent significant ownership changes:

The acquisition resulted in a change of control and reconstitution of the promoter group. Additionally, the company acquired 1,20,80,288 equity shares through a Share Purchase Agreement on January 2, 2026.

Regulatory and Operational Status

Grand Foundry Limited operates in the bright steel bars business segment. The company's shares are currently under Graded Surveillance Measures (GSM) Stage 3 on both the National Stock Exchange and Bombay Stock Exchange, indicating temporary trading restrictions.

The company's management noted that financial information and accounting records of the acquired entity are still under review and reconciliation. The evaluation of accounting treatment, including fair valuation assessment and applicable Accounting Standards requirements, remains pending.

Share Capital Structure

The company maintained consistent share capital metrics throughout the reporting periods:

• Weighted Average Equity Shares: 30,43,00,000 shares
• Face Value per Share: ₹4.00
• Diluted EPS: (₹0.08) for Q3FY26

The financial results were reviewed by the audit committee and approved by the board of directors, with statutory auditors conducting a limited review in accordance with SEBI regulations.

Grand Foundry Limited announced significant organizational changes and strategic business expansion following its board meeting held on January 15, 2026. The meeting, which commenced at 5:00 PM and concluded at 7:30 PM, addressed multiple resignations, new appointments, and business diversification plans.

Key Personnel Changes

The board processed several resignations that occurred in early January 2026. The company's statutory auditor M/s Ashwani & Associates resigned effective from the close of business hours on January 6, 2026. Similarly, internal auditor M/s Ajay Kanjhlia & Associates also resigned on the same date. Ms. Nalini Singh stepped down from her position as Company Secretary and Compliance Officer effective January 8, 2026.

New Appointments and Recommendations

To fill the vacant positions, the board made strategic appointments based on audit committee recommendations. M/s ANSK & Associates, Chartered Accountants (Firm Registration No. 026177N), has been recommended as the new statutory auditor to fill the casual vacancy, subject to shareholder approval at the upcoming Extraordinary General Meeting.

The board approved the immediate appointment of M/s Goyal Mittal & Associates LLP as internal auditors effective January 15, 2026. The firm, holding registration number N500053, specializes in audit, investigation, due diligence, accounting outsourcing, taxation, management consultancy, and fixed assets verification services.

Business Expansion into Telecom Sector

The board approved significant alterations to the company's Memorandum of Association, adding five new business objects focused on telecommunications and communication services. The proposed expansion includes:

• Telecom Equipment Manufacturing: Designing, developing, manufacturing, and servicing telecom equipment including switches, routers, transmission systems, and IoT devices
• Communication Services: Establishing and providing various telecom services including fixed line, mobile, wireless, and satellite communications
• Broadband Services: Offering high-speed internet access through multiple technologies including FTTH, FTTB, and wireless solutions
• Leased Line Services: Providing dedicated connectivity solutions for enterprises and institutions
• Ancillary Activities: Supporting infrastructure development and consultancy services

Extraordinary General Meeting Details

The board approved convening an Extraordinary General Meeting on February 10, 2026, to be conducted through video conferencing. The meeting will seek shareholder approval for the statutory auditor appointment and business object alterations.

Shareholders holding shares in dematerialized or physical form as of February 3, 2026, will be entitled to participate in remote e-voting and voting at the EGM. Ms. Loveleen Gupta, Practicing Company Secretary from M/s L. Gupta & Associates, has been appointed as scrutinizer to oversee the voting process.

The company has indicated that the EGM notice will be distributed to stock exchanges and members separately, with availability on the company website and stock exchange platforms including NSE and BSE.