News Earnings Melstar Information Technologies Reports Q3FY26 Loss of ₹20.31 Lakh, Announces Key Board ChangesMelstar Information Technologies Reports Q3FY26 Loss of ₹20.31 Lakh, Announces Key Board Changes
Melstar Information Technologies Limited reported Q3FY26 standalone loss of ₹20.31 lakh, an improvement from ₹23.07 lakh loss in Q3FY25, though consolidated losses increased to ₹67.00 lakh. Nine-month standalone losses widened to ₹118.41 lakh from ₹29.95 lakh previously. The company appointed Rose Mary Vase as Additional Independent Director and designated Raveendra Sangapu as CFO. Operating under insolvency proceedings since 2019, the company continues on going concern basis while implementing cost optimization and awaiting business clearances.
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Melstar Information Technologies Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing continued losses amid ongoing business restructuring efforts. The company's board meeting on February 14, 2026, approved the results alongside significant organizational changes.
Financial Performance Overview
The company reported no revenue from operations during the quarter, continuing the trend from previous periods. Key financial metrics for the reporting period showed mixed performance compared to the previous year.
| Metric | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Standalone Results | |||
| Total Revenue | ₹0.00 lakh | ₹0.00 lakh | - |
| Total Expenses | ₹20.31 lakh | ₹23.07 lakh | -11.96% |
| Net Loss | ₹20.31 lakh | ₹23.07 lakh | -11.96% |
| Consolidated Results | |||
| Net Loss | ₹67.00 lakh | ₹28.11 lakh | +138.35% |
| EPS (Basic & Diluted) | ₹(2.40) | ₹(0.95) | - |
For the nine-month period ended December 31, 2025, standalone losses increased significantly to ₹118.41 lakh compared to ₹29.95 lakh in the corresponding period of the previous year. Consolidated losses for nine months reached ₹225.28 lakh against ₹34.99 lakh in the previous year.
Expense Analysis
The company's expense structure during Q3FY26 included employee benefit expenses of ₹14.38 lakh, other expenses of ₹5.85 lakh, and depreciation of ₹0.08 lakh. On a consolidated basis, employee benefit expenses were ₹51.11 lakh, other expenses ₹15.81 lakh, and depreciation ₹0.08 lakh.
Key Board Appointments
The board approved several important organizational changes during the meeting:
| Position | Name | Details |
|---|---|---|
| Additional Independent Director | Ms. Rose Mary Vase (DIN: 09286115) | 5-year term subject to shareholder approval |
| Chief Financial Officer | Mr. Raveendra Sangapu | Change in designation from Acting CFO |
Ms. Rose Mary Vase brings over 20 years of corporate experience as a soft skills trainer with a Master's degree in English. Her expertise spans training delivery, instructional design, and strategic talent development across multiple industries. She is not related to any existing directors or key managerial personnel of the company.
Mr. Raveendra Sangapu, previously serving as Acting Chief Financial Officer, has been formally designated as CFO. The board noted his profound knowledge of accounts and finance-related matters as qualification for the role.
Committee Restructuring
The board reconstituted both the Audit Committee and Nomination and Remuneration Committee. The Audit Committee now comprises seven members with Ms. Alyzaa Merchant as Chairperson, while the Nomination and Remuneration Committee has five members with Mr. Rajnikant Patel as Chairperson.
Going Concern Basis
The company continues to prepare its financial statements on a going concern basis despite being under corporate insolvency resolution proceedings since October 1, 2019. Management has implemented various cost-saving initiatives and revenue optimization strategies while awaiting business licenses and clearances to resume operations. The company maintains that these measures, combined with operational efficiency improvements and fundraising initiatives, are expected to generate sustainable cash flows.
The paid-up equity share capital remained unchanged at ₹279.37 lakh with a face value of ₹10.00 per share. The company's registered office is located at 1302, Raheja Centre, The Free Press Journal Marg, Nariman Point, Mumbai.
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