SAI Industries Limited announced its unaudited financial results for the quarter ended September 30, 2025, revealing continued operational challenges with no revenue generation and increased losses compared to the previous year.

Financial Performance Overview

The company reported a net loss of ₹2.13 lacs for Q2FY26, representing a significant increase from the ₹1.04 lacs loss recorded in the corresponding quarter of the previous year. The deterioration in financial performance was primarily attributed to higher operational expenses despite the absence of any income from operations.

Expense Breakdown

The company's total expenses for the quarter comprised other expenses of ₹2.04 lacs and legal and professional charges of ₹0.09 lacs. Employee benefit expenses and depreciation remained at zero, indicating minimal operational activity. The increase in other expenses from ₹1.04 lacs in Q2FY25 to ₹2.04 lacs in Q2FY26 was the primary driver of higher losses.

Half-Year Performance

For the half-year period ended September 30, 2025, SAI Industries recorded a net loss of ₹2.16 lacs compared to ₹1.14 lacs in the corresponding period of the previous year. Total expenses for the half-year stood at ₹2.16 lacs, with other expenses accounting for ₹2.07 lacs and legal and professional charges contributing ₹0.09 lacs.

Balance Sheet Position

As of September 30, 2025, the company's total assets stood at ₹731.09 lacs, primarily comprising investments worth ₹731.00 lacs and cash and cash equivalents of ₹0.09 lacs. The company's equity position remained negative at ₹181.24 lacs, with paid-up equity share capital of ₹296.76 lacs offset by negative reserves of ₹478.00 lacs.

Corporate Governance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 13, 2025. The results have been prepared in accordance with Indian Accounting Standards (Ind-AS) and were subject to limited review by Girotra & Co., Chartered Accountants. The company operates in a single segment, making separate segment reporting inapplicable under Ind-AS 108.

SIP Industries Limited announced its unaudited quarterly results for the quarter ended December 31, 2025, following a board meeting conducted on February 14, 2026. The company's board of directors approved the financial results under Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Performance

The company's financial performance for Q3 FY26 showed challenging results:

The independent auditors, Murali & Venkat Chartered Accountants, conducted a limited review and provided an unmodified opinion on the financial results. However, they highlighted a material uncertainty related to going concern due to the company's negative net worth position.

Board Meeting Details and Regulatory Compliance

The board meeting commenced at 11:10 AM and concluded at 1:15 PM on February 14, 2026. The company has made arrangements to publish the unaudited financial results in newspapers and make them available on the company's website and BSE portal for stakeholder access.

Listing Status and Regulatory Matters

SIP Industries' securities remain under suspended listing status on BSE. The company has been actively pursuing multiple applications with the exchange:

Listing Applications Status

Corporate Restructuring Background

The current management assumed control of SIP Industries through the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated April 25, 2022. The management is working to resolve pending regulatory issues and commence commercial operations.

Financial Provisions and Commitments

The company has created provisions in its books for agreed payments to BSE:

Auditor's Assessment

Despite the financial challenges, the auditors noted that the company is actively working toward listing resolution and plans to start commercial operations. The financial statements have been prepared under the going concern assumption, with management expressing confidence in addressing the current difficulties. The statutory auditors provided an unmodified opinion while drawing attention to material uncertainty related to going concern due to the company's negative net worth position.