Cerebra Integrated Technologies Limited (CEREBRAINT)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Cerebra Integrated's revenue was ₹1.0 Cr (-66.7% year on year, +0.0% on the previous quarter), and net profit ₹-31.0 Cr (a bigger loss than a year earlier); the operating margin was -3300.0%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹1.0 | -66.7% | +0.0% |
| Operating profit | ₹-33.0 | loss widened | loss widened |
| Net profit | ₹-31.0 | loss widened | loss widened |
| EPS (₹) | -2.57 | loss widened | loss widened |
| Operating margin | -3300.0% | — | — |
📢 Recent Corporate Announcements
Cerebra Integrated Technologies announced the voting results and Scrutinizer's Report for its 32nd Annual General Meeting held on September 29, 2026. Shareholders approved both proposed ordinary resolutions, including the adoption of FY26 financial statements and the reappointment of retiring director Mr. Jignesh Mehta Jaswantrai, with over 96% approval. Total voter participation was low, representing only 7.89% (9,564,015 shares) of the 121,186,482 total outstanding shares across 38,927 shareholders. Notably, the scrutinizer disclosed that the company defaulted on fee payments to depositories and/or the RTA, preventing access to the cut-off date BENPOS.
- Both ordinary resolutions approved with 99.46% and 96.59% votes in favor, respectively.
- Total voter turnout was low at 7.89% of outstanding shares (9,564,015 out of 121,186,482 shares).
- Zero institutional votes were cast out of 16,949,877 public-institutional shares held.
- Scrutinizer highlighted that the company defaulted on payments to depositories/RTA, barring access to current BENPOS data.
Cerebra Integrated Technologies has issued the notice for its 32nd Annual General Meeting (AGM) scheduled for September 29, 2026, via video conferencing. The MD's letter within the annual report reiterates that the company's bank accounts turned into Non-Performing Assets (NPAs) as of June 30, 2025, while efforts continue to onboard new investors. As of March 31, 2026, total variable rate borrowings stood at Rs 4,409.91 Lakhs (Rs 44.10 Cr) compared to Rs 4,019.99 Lakhs in the previous year. Remote e-voting is slated between September 25, 2026, and September 28, 2026.
- 32nd AGM scheduled for Tuesday, September 29, 2026, at 4:00 PM IST via VC/OAVM.
- Remote e-voting opens on September 25, 2026 (9:00 AM IST) and closes on September 28, 2026 (5:00 PM IST).
- Total borrowings stood at Rs 4,409.91 Lakhs (Rs 44.10 Cr) as of March 31, 2026, versus Rs 4,019.99 Lakhs as of March 31, 2025.
- Managing Director statement confirms bank accounts were classified as NPA on June 30, 2025, with search for strategic investors underway.
Cerebra Integrated Technologies reported a severe 82% YoY decline in Q1 FY27 revenue to ₹0.32 Cr, down from ₹1.79 Cr. The company posted a net loss of ₹6.46 Cr for the quarter and has filed for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC on June 15, 2026. Auditors have issued a disclaimer of conclusion, citing material uncertainties about the company's ability to continue as a going concern, exacerbated by a 99.9% delinquency rate in trade receivables (₹142.46 Cr overdue for >1 year).
- Revenue from operations collapsed by 82% YoY to ₹32.26 Lakhs in Q1 FY27.
- Net loss for the quarter stood at ₹6.46 Cr, while finance costs remained high at ₹1.98 Cr.
- Company filed for insolvency (CIRP) under Section 10 of IBC on June 15, 2026, pending NCLT Bengaluru approval.
- Trade receivables of ₹142.46 Cr are outstanding for more than one year, with no provision for expected credit loss.
- Overseas dues of ₹100.28 Cr from the sale of a former subsidiary are now overdue for more than 2 years.
Cerebra Integrated Technologies has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by KFIN Technologies Limited, confirms that share dematerialization and rematerialization requests for the quarter ended June 30, 2026, were processed as required. This is a standard administrative filing confirming that the company's share records are being maintained correctly with the depositories (NSDL and CDSL). There is no impact on the company's financial health or business operations.
- Compliance certificate covers the first quarter ended June 30, 2026
- Registrar and Share Transfer Agent (RTA) is KFIN Technologies Limited
- RTA issued the certificate on July 14, 2026
- Company submitted the document to BSE and NSE on July 17, 2026
Cerebra Integrated Technologies Limited has announced that its trading window will be closed starting July 1, 2026, for the purpose of declaring Q1 financial results for the period ending June 30, 2026. The restriction applies to all designated persons, including directors and promoters, as per SEBI Insider Trading regulations. The window will reopen 48 hours after the financial results are officially declared to the exchanges. The specific date for the board meeting to approve these results is yet to be announced.
- Trading window closure commences on July 1, 2026.
- Closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
- Relates to the unaudited financial results for the 1st quarter ended June 30, 2026.
- Restriction remains in effect until 48 hours after the result declaration.
- Applies to all employees, directors, KMPs, and promoters of the company.
Cerebra Integrated Technologies Limited has voluntarily filed an application with the NCLT Bengaluru Bench to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, 2016. The filing follows a reported default of ₹27,67,60,247 (approximately ₹27.68 crore) owed to Canara Bank. This move indicates severe financial distress and the potential for a court-mandated restructuring or liquidation process. For equity shareholders, this typically signals a high risk of significant value erosion or total loss.
- Filed for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC, 2016.
- Reported a specific default amount of ₹27,67,60,247 owed to Canara Bank.
- Application submitted to the National Company Law Tribunal (NCLT), Bengaluru Bench.
- The event occurred on June 15, 2026, and was officially disclosed to exchanges on June 16, 2026.
Cerebra Integrated Technologies Limited held an Extraordinary General Meeting on June 6, 2026, where shareholders approved a special resolution to initiate the Corporate Insolvency Resolution Process (CIRP). The resolution, filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, received 99.61% approval from the voting members. Out of 121.19 million total shares, 22.85 million votes were polled, representing an 18.85% turnout. This voluntary insolvency filing indicates the company's formal move to restructure its debts through legal channels.
- Special resolution passed to initiate CIRP under Section 10 of the IBC, 2016.
- Resolution approved with 22,757,879 votes in favor (99.61%) and 88,713 votes against (0.39%).
- Total voter turnout was 18.85% of the 121,186,482 total outstanding shares.
- Promoter group participation stood at 73.25% of their 1,017,065 shareholding.
- The Scrutinizer, Parameshwar G. Bhat, confirmed the resolution was passed with the requisite majority.
Cerebra Integrated Technologies held an Extraordinary General Meeting (EGM) on June 6, 2026, to seek shareholder approval for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC. This represents a voluntary application for insolvency by the company, signaling severe financial distress. The meeting was notably brief, concluding in just 8 minutes, with final voting results expected within two working days. If approved and admitted by the NCLT, the company will enter a formal restructuring or liquidation phase.
- Proposed a Special Resolution to initiate Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016.
- The EGM was conducted via video conferencing and lasted only 8 minutes, from 11:30 AM to 11:38 AM.
- The company is voluntarily seeking insolvency, which usually results in a moratorium on debt and potential loss of control by current management.
- Final voting results and the Scrutinizer’s Report are scheduled to be declared within two working days of the meeting.
Cerebra Integrated Technologies reported a catastrophic financial performance for FY26, with annual revenue collapsing by over 83% to ₹5.95 crore. The net loss widened to ₹71.64 crore from ₹47.32 crore in the previous year, exacerbated by a ₹9.76 crore inventory devaluation. Critically, the statutory auditors issued a 'Disclaimer of Opinion,' citing material uncertainties about the company's ability to continue as a going concern, ceased operations, and unconfirmed receivables exceeding ₹143 crore.
- Annual revenue plummeted 83.3% YoY to ₹5.95 crore in FY26 from ₹35.62 crore in FY25.
- Statutory auditors issued a Disclaimer of Opinion, questioning the 'Going Concern' status due to significant operating losses and ceased refurbishment activities.
- Trade receivables of ₹142.99 crore have been outstanding for more than one year, with ₹100.28 crore due from an overseas party overdue for over two years.
- The company reported a standalone net loss of ₹71.64 crore for FY26, with an EPS of -₹6.40.
- Auditors noted a lack of supporting documentation for a ₹9.76 crore ad-hoc inventory devaluation and ₹20.29 crore in long-term capital advances.
Cerebra Integrated Technologies has announced the procedural timeline for its Extraordinary General Meeting (EGM) for the fiscal year 2026-27. The company has fixed May 29, 2026, as the cut-off date to determine the eligibility of shareholders for voting. The remote e-voting facility will be available for four days, starting from June 02, 2026, and ending on June 05, 2026. This is a standard regulatory filing regarding shareholder participation in corporate governance.
- Record date (cut-off date) for EGM voting eligibility is May 29, 2026
- Remote e-voting period begins on June 02, 2026, at 09:00 A.M. IST
- Remote e-voting period concludes on June 05, 2026, at 05:00 P.M. IST
- Voting rights are proportional to the paid-up equity share capital as of the record date
Cerebra Integrated Technologies has convened an Extraordinary General Meeting (EGM) on June 06, 2026, to seek shareholder approval for initiating the Corporate Insolvency Resolution Process (CIRP). The company plans to file a voluntary application under Section 10 of the IBC before the NCLT Bengaluru Bench due to its inability to service debts and ongoing defaults. This move indicates severe financial distress and a potential total restructuring or liquidation of the company. Shareholders are required to vote on this special resolution via e-voting between June 02 and June 05, 2026.
- EGM scheduled for June 06, 2026, to approve initiation of CIRP under Section 10 of the Insolvency and Bankruptcy Code.
- Company admits to an inability to pay its debts and defaults committed in respect thereof.
- Remote e-voting period is set from June 02 (9:00 AM) to June 05 (5:00 PM), 2026.
- Cut-off date to determine eligible members for voting is May 29, 2026.
- The Board has authorized the Chairman and CFO to file the application with the NCLT Bengaluru Bench.
The Board of Directors of Cerebra Integrated Technologies has approved the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016. This voluntary filing indicates that the company is seeking legal intervention to resolve its debt obligations. The decision was made in a brief board meeting on May 11, 2026, and the company will now seek necessary approvals from its shareholders. This move typically precedes a significant restructuring or potential liquidation under the National Company Law Tribunal (NCLT).
- Board approved initiation of Corporate Insolvency Resolution Process (CIRP) under Section 10 of the IBC.
- The board meeting was highly concise, commencing at 5:00 P.M. and concluding at 5:14 P.M. on May 11, 2026.
- The company will seek shareholder approval for the insolvency process as per the Companies Act, 2013.
- Section 10 filing implies a voluntary admission of financial distress by the corporate debtor.
Cerebra Integrated Technologies Limited has responded to a clarification request from the National Stock Exchange regarding its financial results for the quarter ended March 31, 2025. The company identified a discrepancy between the Standalone Earnings Per Share (EPS) reported in the XBRL filing and the PDF version of the audited results. Management attributed this to a clerical error during the digital filing process rather than a change in financial performance. The company has since rectified the error and submitted a revised XBRL filing to the exchange to ensure data consistency.
- NSE sought clarification on April 10, 2026, regarding financial results for the quarter ended March 31, 2025
- Discrepancy was found in the Standalone Earnings Per Share (EPS) figures between XBRL and PDF filings
- Company confirmed the mismatch was due to a clerical error during the Integrated filing process
- A revised XBRL filing has been submitted to the exchange to correct the discrepancy
- The clarification was signed by Vishwamurthy Phalanetra, Whole Time Director and CFO
Cerebra Integrated Technologies Limited has filed its quarterly compliance certificate for the period ending March 31, 2026. The filing confirms that the company has complied with SEBI (Depositories and Participants) Regulations regarding the dematerialization of securities. This certificate was issued by the company's Registrar and Share Transfer Agent, KFIN Technologies Limited. Such filings are mandatory and ensure that the electronic records of shareholders are accurately maintained with NSDL and CDSL.
- Quarterly compliance certificate submitted for the period ended March 31, 2026.
- Issued by Registrar and Share Transfer Agent KFIN Technologies Limited.
- Confirms processing of dematerialization and rematerialization requests as per SEBI guidelines.
Cerebra Integrated Technologies Limited has announced the closure of its trading window for all designated persons starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations ahead of the declaration of audited financial results for the quarter and year ending March 31, 2026. The window will remain closed until 48 hours after the financial results are made public. The specific date for the board meeting to approve these results will be announced at a later time.
- Trading window closure commences on Wednesday, April 1, 2026.
- Closure pertains to the Audited Financial Results for the 4th quarter and year ended March 31, 2026.
- Restriction applies to Promoters, Directors, KMPs, and Designated Persons.
- Trading window will reopen 48 hours after the official declaration of financial results.
Financial Performance
Revenue Growth by Segment
Total revenue from operations declined by 81.89% YoY in Q2 FY26, falling to INR 220.65 Lakhs from INR 1,218.26 Lakhs. For the half-year ended September 30, 2025, revenue dropped 82.12% to INR 399.70 Lakhs from INR 2,235.53 Lakhs due to the cessation of key refurbishment activities and workforce reductions.
Profitability Margins
Net Profit Ratio worsened by 42.92% in FY25, moving from -0.93 to -1.33. The company reported a net loss of INR 2,375.10 Lakhs for H1 FY26, compared to a loss of INR 3,124.86 Lakhs in H1 FY25, reflecting persistent operational inefficiencies and high fixed costs relative to shrinking revenue.
EBITDA Margin
EBIDTA was reported at INR 9.60 Cr for FY24 on a total operating income of INR 51.98 Cr, representing an 18.47% margin. However, subsequent periods show significant operating losses and a disclaimer of audit opinion, suggesting core profitability has collapsed.
Capital Expenditure
Capital advances of INR 20.29 Cr are outstanding for more than one year (INR 10.81 Cr current and INR 9.49 Cr non-current), but auditors noted a lack of confirmation and no provision for bad portions, indicating stalled or risky capital deployment.
Credit Rating & Borrowing
The company faces challenges in servicing current liabilities, including borrowings of INR 40.19 Cr as of March 31, 2025. Interest expenditure for H1 FY26 was INR 350.91 Lakhs, down 44.14% from INR 628.19 Lakhs in the previous year, likely due to reduced credit access or restructuring.
Operational Drivers
Raw Materials
E-waste inventory, computer peripherals, and components represent the primary raw materials, with cost of materials consumed totaling INR 193.67 Lakhs in H1 FY26, which is 48.45% of total revenue.
Capacity Expansion
The company has ceased certain key operations, including refurbishment activities, and substantially reduced its workforce, indicating a contraction rather than expansion of capacity.
Raw Material Costs
Cost of material consumed dropped 90.33% YoY in H1 FY26 to INR 193.67 Lakhs from INR 2,003.48 Lakhs, directly correlating with the massive reduction in manufacturing and refurbishment operations.
Manufacturing Efficiency
Trade Payables Turnover Ratio decreased by 62.90% in FY25 (from 1.36 to 0.84) due to a sharp reduction in purchases, indicating severely diminished manufacturing activity and efficiency.
Strategic Growth
Expected Growth Rate
0%
Growth Strategy
The company is currently in a survival phase rather than a growth phase. Strategy involves attempting to restructure operations, settle income tax dues of INR 35.67 Cr, and raise long-term funds to address a disclaimer of opinion regarding its going concern status.
Products & Services
E-waste recycling, refining, refurbishment services, electronic manufacturing services (EMS), and IT infrastructure management.
Brand Portfolio
Cerebra
External Factors
Industry Trends
While the e-waste recycling industry is generally growing due to environmental regulations, Cerebra is losing market position due to internal financial distress, workforce reductions, and a lack of audit-verifiable financial records.
Competitive Landscape
The company is losing ground to competitors as it fails to service its debt and maintain its workforce, leading to a 33.57% decline in its trade receivables turnover ratio.
Competitive Moat
The company's moat in e-waste recycling is currently non-existent due to the cessation of key refurbishment activities and a disclaimer of opinion from auditors regarding internal financial controls.
Macro Economic Sensitivity
Highly sensitive to the regulatory environment for e-waste and the availability of long-term financing, as the company is currently unable to meet its current liabilities of INR 93.52 Cr.
Regulatory & Governance
Industry Regulations
The company is failing to comply with Ind AS 2 (Inventories), Ind AS 21 (Foreign Exchange), and Section 133 of the Companies Act, according to the auditor's disclaimer of opinion.
Environmental Compliance
As an e-waste recycler, the company is subject to strict environmental norms, but auditors were unable to confirm regulatory compliance regarding the recoverability of dues and inventory valuation.
Taxation Policy Impact
The company has significant unpaid income tax dues, with current tax liabilities (net) standing at INR 35.67 Cr as of September 30, 2025.
Legal Contingencies
The company faces material uncertainties regarding pending litigations and their impact on financial position, which auditors were unable to quantify. Current tax liabilities of INR 35.67 Cr represent a major immediate legal/financial obligation.
Risk Analysis
Key Uncertainties
There is a material uncertainty (100% impact risk) regarding the company's ability to continue as a going concern due to significant operating losses, workforce reduction, and inability to service liabilities.
Third Party Dependencies
High dependency on the ability of management to secure third-party long-term funding to restructure operations.
Technology Obsolescence Risk
High risk of technology obsolescence in the e-waste and refurbishment segment, evidenced by the ad-hoc devaluation of INR 19.95 Cr of stock in FY25.
Credit & Counterparty Risk
Extreme credit risk; 99.06% of trade receivables (INR 142.23 Cr) are older than one year, with inadequate provisioning (only INR 84.57 Cr provided against potential bad debts).
