What’s new

• Facor Alloys reported a net loss of ₹14.80 crore for FY26, with revenue of just ₹1.47 crore.
• The auditor issued a material uncertainty note on the company's ability to continue as a going concern.
• The board proposed changing the company's MOA to include Gati Shakti Cargo Terminal operations.

Why it matters

This is the first full-year audit since the plant went dark in October 2023. The going-concern flag is the auditor's way of saying the numbers don't add up for survival without a dramatic change. The proposed pivot to cargo terminals, subject to shareholder approval, is that proposed change.

What we’re watching

• Shareholder vote on the MOA amendment to allow the logistics pivot.
• Completion of the plant-and-machinery sale; an advance of ₹27.97 crore is already received.
• Whether the company can secure fresh capital or a partner for the new venture.

The full read

Facor Alloys' plant has been idle since October 2023. The first full audit of that shutdown, for FY26, shows a ₹14.80 crore net loss on just ₹1.47 crore in revenue. The auditor has issued a going-concern warning. The board's response is a proposed pivot to logistics, seeking shareholder approval to amend the MOA for Gati Shakti Cargo Terminal operations. An asset sale is also pending: the company holds a ₹27.97 crore advance for its plant and machinery, but the deal isn't done. The going-concern note frames the choice starkly. The old business is gone. The shareholder vote on the new one is the next event.

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