What’s new

• Net loss widened to ₹147.58 lakhs in FY26 from ₹84.92 lakhs in FY25.
• Revenue was flat at ₹6.32 lakhs; total expenses jumped 57% to ₹175.58 lakhs.
• Accumulated losses pushed net worth to ₹-274.60 lakhs against ₹90 lakhs in equity capital.

Why it matters

India Radiators is burning cash at a rate that dwarfs its own equity. With just ₹6.32 lakh in annual revenue and ₹175 lakh in expenses, the losses are deepening an already negative net worth. The company's liabilities now exceed its assets by a wide margin.

What we’re watching

• Whether the auditors add a going-concern emphasis in the next cycle.
• Any plan to raise capital or restructure the ₹274.60 lakh accumulated loss hole.
• How the company funds ₹175 lakh in annual costs with ₹6 lakh in revenue.

The full read

India Radiators lost ₹147.58 lakhs in FY26 on ₹6.32 lakhs of revenue. Revenue did not move. Total expenses jumped 57% to ₹175.58 lakhs, with finance costs and other outgoings accounting for the increase. The damage flows straight to the balance sheet: accumulated losses now stand at ₹274.60 lakhs, three times the ₹90 lakh equity base. The net worth is negative by a multiple. For a company with a ₹1 crore market cap, the maths is stark.

Primary source: BSE · NSE