SEL Manufacturing Company Limited has announced its unaudited financial results for the quarter ended December 31, 2025. The Board of Directors, in their meeting held on February 7, 2026, approved these results. The company reported a net loss of ₹4,074.91 lakhs for the quarter ended December 31, 2025, compared to a loss of ₹1,598.72 lakhs in the same quarter of the previous year. For the nine months ended December 31, 2025, the net loss stood at ₹12,601.23 lakhs. The auditor's report highlights significant concerns regarding the company's going concern ability. The company has failed to infuse the stipulated working capital of ₹6,500 lakhs as per its resolution plan, bringing in only ₹2,500 lakhs. This has led to continuous losses and severe liquidity stress, with major plants remaining shut down. The company has defaulted on quarterly installments amounting to ₹26,186 lakhs and interest payments of ₹17,105 lakhs due from September 2023 to December 2025. Furthermore, the company has not conducted impairment testing for its Property, Plant & Equipment and Capital Work in Progress as required by Ind AS 36, making the impact of potential impairment unascertainable. The company's shareholders had previously passed a resolution for the initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, in an EGM held on October 13, 2023. The auditor's report emphasizes that the company's ability to continue as a going concern is subject to significant doubt unless concrete efforts are made to infuse funds and increase operations and profits. The financial results are prepared on a going concern basis, but this is dependent on the company's ability to secure necessary funding and improve its operational performance.
