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SELMC Reports Q3 Net Loss of ₹4,074 Lakhs; Faces Severe Liquidity Crisis and Debt Defaults
SEL Manufacturing Company Limited (SELMC) reported a sharp decline in revenue to ₹205.14 lakhs for Q3 FY26, down from ₹531.24 lakhs in the previous quarter. The company posted a net loss of ₹4,074.91 lakhs for the quarter, with cumulative losses since its 2020-21 resolution plan reaching ₹76,691 lakhs. Auditors have raised a 'Material Uncertainty Related to Going Concern' as the company has defaulted on ₹26,186 lakhs in principal and ₹17,105 lakhs in interest. Major plants remain shut down, and the company is currently relying on job work operations due to a severe liquidity crunch.
Key Highlights
Revenue from operations fell to ₹205.14 lakhs in Q3 FY26 from ₹531.24 lakhs in Q2 FY26.
Net loss for the quarter stood at ₹4,074.91 lakhs, with a total comprehensive loss of ₹14,320.98 lakhs for the nine-month period.
Total defaults on principal installments and interest reached ₹26,186 lakhs and ₹17,105 lakhs respectively as of December 2025.
Cumulative losses since the implementation of the resolution plan have reached ₹76,691 lakhs.
Auditors issued a qualified opinion due to the absence of impairment testing for Property, Plant & Equipment.
💼 Action for Investors
Investors should exercise extreme caution as the company is facing severe liquidity stress and has already passed a resolution for voluntary insolvency proceedings. The auditor's warning regarding 'going concern' status and massive debt defaults indicate a very high risk of total capital loss.
SELMC Q3 FY26: Net Loss of ₹4,074 Lakhs Amidst Severe Liquidity Crisis and Debt Defaults
SEL Manufacturing Company Limited reported a significant net loss of ₹4,074.91 lakhs for the quarter ended December 31, 2025, as revenue from operations plummeted to ₹205.14 lakhs. The company is facing a severe liquidity crisis, having defaulted on principal and interest payments totaling over ₹43,291 lakhs since late 2023. Auditors have highlighted material uncertainty regarding the company's ability to continue as a going concern, noting cumulative losses of ₹76,691 lakhs. Most manufacturing plants remain shut, and the company has shifted to job work to sustain minimal operations.
Key Highlights
Revenue from operations fell sharply to ₹205.14 lakhs in Q3 FY26 compared to ₹452.19 lakhs in Q3 FY25.
Net loss for the quarter stood at ₹4,074.91 lakhs, contributing to a massive cumulative loss of ₹76,691 lakhs.
The company defaulted on ₹26,186 lakhs in installments and ₹17,105 lakhs in interest payments as of December 2025.
Auditors raised a 'Material Uncertainty Related to Going Concern' due to plant shutdowns and severe financial distress.
Shareholders have previously approved the initiation of Corporate Insolvency Resolution Process under Section 10 of the IBC.
💼 Action for Investors
Investors should exercise extreme caution as the company faces imminent insolvency risks and has defaulted on massive debt obligations. The lack of operational cash flow and plant shutdowns make this a high-risk asset with potential for total capital loss.