IITL Projects reports Net Loss of (379.24) lakhs in Q1 FY27, Going Concern status ceased
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 04 Aug 2026, 06:07 PM IST · BSE ID: 479d3412-f958-4c65-9b3b-bb180001786c
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported a significant loss, its assets are less than its debts, and auditors believe it can no longer continue operating normally.
🤖 AI Summary
- IITL Projects approved unaudited standalone financial results for the quarter ended June 30, 2026, reporting a Net Loss of (379.24) lakhs.
- Accumulated losses of Rs. 903.01 lakhs exceed paid-up capital, resulting in full erosion of net worth.
- Auditors state the company ceases to be a "Going Concern" due to no business and absence of cash flows.
- An impairment loss of 405.05 lakhs was recognized related to an overdue advance of Rs. 4.05 Crores for a cancelled property MOU.
- CS Payal Vyas was appointed as the Secretarial Auditor for the Financial Year 2026-2027, effective August 04, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Other income (Q1 FY27)
44.40 lakhs
Not comparable — limited prior period data.
Total Expenses (Q1 FY27)
414.86 lakhs
Not comparable — limited prior period data.
Profit/(Loss) before tax (Q1 FY27)
(370.46) lakhs
Not comparable — limited prior period data.
Net Profit/(Loss) after tax (Q1 FY27)
(379.24) lakhs
Not comparable — limited prior period data.
Basic and Diluted EPS (Q1 FY27)
(7.60)
Not comparable — limited prior period data.
Accumulated Loss (as of June 30, 2026)
Rs. 903.01 lakhs
Impairment loss (Q1 FY27)
405.05 lakhs
🏢 How This Affects the Company
The company reported no revenue from operations for the quarter ended June 30, 2026, consistent with its stated position of having no business of its own.
The Net Loss after tax of (379.24) lakhs for the quarter ended June 30, 2026, contributed to accumulated losses exceeding paid-up capital, eroding net worth. An impairment loss of 405.05 lakhs reduced assets.
The company operates without its own business or cash flows, indicating a cessation of normal operations. The financial statements reflect asset valuation at realization value and full provision for known liabilities.
The declaration that the company ceases to be a "Going Concern" significantly increases financial and operational risk due to eroded net worth and negative cash flow outlook.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this filing.
👤
Who Is Affected
All shareholders are affected by the financial performance, particularly the Net Loss of (379.24) lakhs and the erosion of net worth due to Rs. 903.01 lakhs in accumulated losses.
🔍
Management Signal
The Board's approval of financial results prepared on a non-going concern basis signals acknowledgment of the company's current financial and operational state.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q2 FY27 financial results — check for any change in revenue or operational status.
Updates on recovery of the remaining Rs. 4.05 Crores advance payment.
Any further Board decisions regarding the company's future operational strategy.
HIGH RISK
The company's declared non-going concern status, eroded net worth, and significant losses indicate high risk.
💡 Investor Takeaway
IITL Projects reported a Net Loss after tax of (379.24) lakhs for Q1 FY27, with accumulated losses of Rs. 903.01 lakhs exceeding paid-up capital and full erosion of net worth. The company's auditors confirmed it no longer functions as a "Going Concern."
⚖️ Strengths & Concerns
⚠️ Concerns
- The company reported a Net Loss after tax of (379.24) lakhs for the quarter ended June 30, 2026.
- Accumulated losses of Rs. 903.01 lakhs exceed the paid-up capital, resulting in a fully eroded net worth.
❓ Frequently Asked Questions
What was IITL Projects' Net Profit or Loss for the quarter ended June 30, 2026?
IITL Projects reported a Net Loss after tax of (379.24) lakhs for the quarter ended June 30, 2026.
What is the accumulated loss for IITL Projects as of June 30, 2026?
As of June 30, 2026, the accumulated loss of IITL Projects Limited is Rs. 903.01 lakhs, exceeding its paid-up capital.
Did IITL Projects recognize any impairment loss in Q1 FY27?
Yes, IITL Projects recognized an impairment loss of 405.05 lakhs during the quarter ended June 30, 2026, due to an overdue advance payment of Rs. 4.05 Crores.
What is the status of IITL Projects as a "Going Concern"?
IITL Projects Limited has ceased to be a "Going Concern" as of June 30, 2026, due to no business of its own and no present cash flows, leading to fully eroded net worth.
Who was appointed as the Secretarial Auditor for IITL Projects for FY2026-2027?
CS Payal Vyas, a Practicing Company Secretary, was appointed as the Secretarial Auditor for IITL Projects Limited for the Financial Year 2026-2027, effective August 04, 2026.
Questions based on this BSE filing only. For information purposes.