Amalgamated Electricity Company Limited’s Board of Directors convened on October 30, 2026, to approve the unaudited standalone financial results for the quarter and half-year ended September 30, 2026. The meeting also saw the delegation of authority to the Managing Director for potential modifications to the Memorandum of Association’s object clause. The financial statements reveal substantial losses for the period.
Board Meeting Outcomes
Amalgamated Electricity Company Limited announced the outcomes of its Board of Directors’ meeting held on October 30, 2026. The board successfully reviewed and approved the Un-Audited Standalone Financial Results for the second quarter and the half-year period concluding on September 30, 2026.
Delegation of Authority
In addition to financial approvals, the board also resolved to delegate specific authority to the Managing Director. This delegation pertains to the power to make any necessary changes or modifications to the Object Clause within the Company’s Memorandum of Association. This authority is granted in line with provisions related to postal ballot notices issued on October 1, 2026.
Financial Performance Overview
The accompanying unaudited financial results indicate a net loss for the quarter and half-year ended September 30, 2026. For the quarter, the company reported a profit/(loss) before tax of (₹29.74 Lakhs), which, after accounting for tax (nil), resulted in a net loss of (₹29.74 Lakhs). The half-year ended September 30, 2026, also showed a significant loss before tax of (₹50.43 Lakhs), leading to a net loss of (₹50.43 Lakhs) for the period. Total comprehensive income for the half-year was also (₹50.43 Lakhs).
Balance Sheet Highlights
As of September 30, 2026, the company’s total assets stood at ₹91.41 Lakhs, with total equity at (₹123.20 Lakhs). Liabilities comprised non-current liabilities totaling ₹53.92 Lakhs and current liabilities amounting to ₹160.70 Lakhs. The equity share capital remained consistent at ₹138.83 Lakhs.
Cash Flow Statement Insights
The cash flow statement for the half-year ended September 30, 2026, shows a net cash outflow from operating activities of (₹48.56 Lakhs). Investing activities also resulted in a net cash outflow of (₹48.56 Lakhs). Financing activities generated a net cash inflow of ₹48.50 Lakhs. Overall, there was a net decrease in cash and cash equivalents by (₹0.06 Lakhs) during the period, bringing the closing balance to ₹0.27 Lakhs.
Auditor’s Review
The unaudited financial results have undergone a limited review by the statutory auditors, Vatsaraj & Co., Chartered Accountants. Their review report indicates that nothing has come to their attention that would cause them to believe the statement is materially misstated and has not been prepared in accordance with Ind AS 34.
Source: BSE
