Gujarat State Financial Corporation
Gujarat State Financial Corporation Reports ₹2,018.75 lakh Net Loss for Q2 FY27
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 26 Oct 2026, 03:12 PM IST · BSE ID: e7164d78-b4db-4f73-9bae-3e03e844de0f
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported a significant loss, and its auditors are concerned about its ability to continue operations due to financial issues.
🤖 AI Summary
- Gujarat State Financial Corporation reported a Net Loss of ₹2,018.75 lakh for the quarter ended September 30, 2026.
- Statutory Auditors issued a qualified opinion on the going concern basis due to eroded net worth and defaulted repayment obligations.
- The Board approved re-introduction of a One Time Settlement Scheme for Term Loans up to and above ₹15.00 lakh.
- The company discontinued providing interest on a ₹621.37 crore soft loan from the Government of Gujarat, effective April 1, 2026.
- Gross NPA and Net NPA stood at ₹39,762.99 lakh, representing 100% of Gross and Net advances respectively.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net Profit(+)/loss(-) for the period
(2018.75) lakh
Not comparable — limited prior period data.
Interest earned
7.87 lakh
Not comparable — limited prior period data.
Total Income
417.94 lakh
Not comparable — limited prior period data.
Interest Expended
2353.95 lakh
Not comparable — limited prior period data.
% of Gross NPA to Gross advances
100%
% of Net NPA to Net advances
100%
Paid-up Equity Share Capital
8911.40 lakh
Percentage of Shares held by Govt. of Gujarat
55.09
🏢 How This Affects the Company
The re-introduction of a One Time Settlement Scheme aims to improve recovery from term loan accounts, potentially impacting future loan performance and asset quality. Discontinuing interest provision on the Government loan could alter reported interest expenses.
The Net Loss of ₹2,018.75 lakh and the auditors' going concern qualification highlight severe financial distress, including eroded net worth. Discontinuing interest payments on the Government loan reduced reported Interest Expended by ₹1,245.98 lakh for the quarter, reducing the reported net loss.
The focus remains on recovery functions, as stated by management, alongside the implementation of the new One Time Settlement Scheme. There is no indication of changes to core lending operations.
The auditors' qualified opinion on the going concern basis and the 100% NPA ratios indicate high financial risk. The uncertainty surrounding the waiver of interest on Government loans adds to financial risk.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this filing.
👤
Who Is Affected
Shareholders are affected by the continued net losses, which have led to an eroded net worth. The Government of Gujarat holds 55.09% of shares.
🔍
Management Signal
Management's decision to discontinue providing interest on the Government loan from April 1, 2026, signals efforts to reduce reported losses amidst financial stringency and pending waiver decisions.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Next financial results — review net loss and auditor comments.
Update on Government of Gujarat interest waiver decision.
Outcome of One Time Settlement Scheme implementation.
HIGH RISK
Auditors raised going concern concerns, net worth is eroded, and 100% NPA ratios indicate severe financial distress.
💡 Investor Takeaway
Gujarat State Financial Corporation reported a Net Loss of ₹2,018.75 lakh for Q2 FY27. Statutory Auditors issued a qualified opinion on the going concern basis due to eroded net worth and repayment defaults. The company's Gross and Net NPA are 100% at ₹39,762.99 lakh.
⚖️ Strengths & Concerns
⚠️ Concerns
- Net Loss for the quarter ended September 30, 2026 was ₹2,018.75 lakh, indicating continued operational losses.
- Gross NPA and Net NPA both stood at 100% of advances, at ₹39,762.99 lakh, reflecting significant asset quality issues.
📅 Company Track Record
Gujarat State Financial Corporation previously reported a Net Loss of (2018.75) lakh for Q2 FY27, with auditors raising going concern concerns. This is a continuation of previous financial reporting challenges for the corporation.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Gujarat State Financial Corporation's net loss for the quarter ended September 30, 2026?
Gujarat State Financial Corporation reported a Net Loss of (2018.75) lakh for the quarter ended September 30, 2026.
What did the Statutory Auditors state regarding Gujarat State Financial Corporation's financial results?
Statutory Auditors issued a qualified opinion, stating that the financial results are prepared on a going concern basis despite eroded net worth and defaulted repayment obligations.
What is the Gross NPA ratio for Gujarat State Financial Corporation as of September 30, 2026?
The Gross NPA for Gujarat State Financial Corporation as of September 30, 2026, was 39762.99 lakh, representing 100% of Gross advances.
What decision was made regarding the One Time Settlement Scheme?
The Board decided to re-introduce a One Time Settlement Scheme for Term Loans disbursed up to ₹15 lakh and above ₹15.00 lakh.
How did the company's decision on interest for Government loans impact its results?
The decision to discontinue providing interest on the soft loan from the Government of Gujarat reduced reported 'interest expended' by ₹1,245.98 lakh for the quarter and ₹2,466.77 lakh for the half year ended September 30, 2026.
Questions based on this BSE filing only. For information purposes.