Sejal Glass Corrects Financial Results After Inventory Error, Reports Rs 226.51 Lakhs Loss
Sejal Glass Limited issued corrected financial results on February 17, 2026, after discovering a Rs 60.77 lakhs inventory mismatch due to Excel formula error. The company reported a net loss of Rs 226.51 lakhs for nine months ended December 31, 2025, despite revenue growth of 26.12% to Rs 7,948.00 lakhs, as expenses increased by 37.25%.
*this image is generated using AI for illustrative purposes only.
Sejal Glass Limited issued a clarification on February 17, 2026, regarding corrected financial results after discovering errors in its previously submitted condensed standalone interim special purpose audited financial results for the period ended December 31, 2025.
Error Discovery and Correction
The company identified significant discrepancies in its balance sheet that required immediate correction:
| Error Details: | Amount/Description |
|---|---|
| Inventory Mismatch: | Rs 60.77 lakhs |
| Root Cause: | Formula error in Excel working |
| Discovery Method: | Internal document review |
| Correction Date: | February 17, 2026 |
The error resulted in a mismatch between total assets and total liabilities in the originally submitted balance sheet. Company Secretary Ashwin S. Shetty confirmed the corrective actions taken to ensure compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Corrected Financial Performance
The corrected financial results show the company reported a net loss of Rs 226.51 lakhs for the nine months ended December 31, 2025, compared to a profit of Rs 399.90 lakhs for the full year ended March 31, 2025.
| Financial Metric: | 9 Months Dec 31, 2025 | Year Ended Mar 31, 2025 | Change |
|---|---|---|---|
| Revenue from Operations: | Rs 7,948.00 lakhs | Rs 6,301.69 lakhs | +26.12% |
| Other Income: | Rs 960.64 lakhs | Rs 754.47 lakhs | +27.33% |
| Total Income: | Rs 8,908.64 lakhs | Rs 7,056.16 lakhs | +26.25% |
| Total Expenses: | Rs 9,135.15 lakhs | Rs 6,656.26 lakhs | +37.25% |
| Net Profit/(Loss): | Rs (226.51) lakhs | Rs 399.90 lakhs | Loss |
Despite revenue growth of 26.12%, expenses increased significantly by 37.25%, leading to the net loss. Major expense components included cost of materials consumed at Rs 4,839.38 lakhs, employee benefit expenses of Rs 1,063.83 lakhs, and finance costs of Rs 892.99 lakhs.
Corrected Balance Sheet Position
The corrected balance sheet shows total assets of Rs 24,299.57 lakhs as of December 31, 2025, compared to Rs 11,862.21 lakhs as of March 31, 2025:
| Balance Sheet Item: | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| Corrected Inventories: | Rs 849.28 lakhs | Rs 329.33 lakhs |
| Equity Share Capital: | Rs 1,140.00 lakhs | Rs 1,010.00 lakhs |
| Other Equity: | Rs 9,488.33 lakhs | Rs 2,068.39 lakhs |
| Total Equity: | Rs 10,628.33 lakhs | Rs 3,078.39 lakhs |
| Total Assets: | Rs 24,299.57 lakhs | Rs 11,862.21 lakhs |
Auditor Opinion and Compliance
Gokhale & Sathe, Chartered Accountants, issued an unqualified audit opinion on the corrected financial results on February 16, 2026. The auditors confirmed that the condensed standalone interim special purpose financial results give a true and fair view in conformity with Indian Accounting Standard 34 and other applicable accounting principles.
The corrected financial results were prepared specifically for regulatory compliance with Foreign Exchange Management (Overseas Investment) Rules, 2022, to meet net worth conditions for the company's overseas investment in UAE subsidiary Sejal Glass & Glass Manufacturing Products LLC.
Earnings Per Share Impact
The financial performance significantly impacted earnings per share, with basic EPS at Rs (2.23) for the nine-month period compared to Rs 3.96 for the full year ended March 31, 2025. Diluted EPS stood at Rs (2.22) for the current period.
Historical Stock Returns for Sejal Glass
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.99% | -9.90% | -26.00% | -40.05% | +22.14% | +96.88% |
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