Board approved Sept-quarter results; rights issue funds of Rs. 2,414.31 lakh remain unutilised
Board meeting on 4 November 2026 approved IEL's unaudited standalone results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 2 min read
- September 2026 quarter net loss
- (6.81) lakh
- Half year ended September 2026 net profit
- 50.33 lakh, against a net loss of (87.34) lakh a year earlier
- Rights issue unutilised amount
- Rs. 2,414.31 lakh still unutilised, earmarked for warehouse construction
The board of IEL Ltd met on 4 November 2026 and approved the company's unaudited standalone financial results for the quarter and half year ended 30 September 2026.
What was approved
- Unaudited standalone financial results for the quarter and half year ended 30 September 2026.
- The statutory auditors, Maark & Associates, issued a limited review report stating that nothing has come to their attention that causes them to believe the statement contains any material misstatement.
- The auditors recorded an "Other Matter": balances of Loans & Advances, Trade Receivables and Trade Payables are subject to Management Confirmation.
Results snapshot (Rs. in lakh; brackets are negatives as printed)
- September 2026 quarter: total expenses 6.68 and a net loss of (6.81).
- September 2025 quarter: net loss of (13.59).
- Half year ended September 2026: total income 88.76 and a net profit of 50.33.
- Half year ended September 2025: net loss of (87.34).
Balance sheet as at 30 September 2026 (Rs. in lakh)
- Total assets 4,780.90.
- Total equity 4,551.52, of which paid-up equity share capital is 1,303.92.
- Loans & advances (current) 3,532.93.
- Capital work-in-progress 1,200.00.
- Cash and cash equivalents 4.41.
- Borrowings (non-current) 90.00 and other financial liabilities (non-current) 56.35.
Rights issue money
- The company raised Rs. 43,17,21,894.20 through a rights issue; the date of raising funds is shown as 05th March 2025.
- Issue related expenses were Rs. 47,65,988.70, leaving net proceeds of Rs. 42,69,55,905.50.
- Amount utilised so far is Rs. 1,902.91 lakh: land for construction of warehouses 977.00 lakh and general corporate purposes 925.91 lakh.
- Unutilised amount is Rs. 2,414.31 lakh, earmarked for financing construction of the warehouses.
- The auditors certified there was no deviation or variation in use of the proceeds from the objects stated in the Letter of Offer dated 17th January 2025.
What a retail investor can take away
- The half year as a whole is profitable at 50.33 lakh, versus a loss of (87.34) lakh in the same half last year; the September quarter on its own was a loss of (6.81) lakh.
- Of the rights issue net proceeds, Rs. 2,414.31 lakh is still to be spent on warehouse construction, so the fund deployment is only partly complete, though no deviation from objects was flagged.
- The auditors' note that certain balances (loans & advances, trade receivables, trade payables) rest on management confirmation is a point to keep in mind while reading these numbers.
More numbers
- Amount raised through rights issueRs. 43,17,21,894.20
- Net proceeds to be utilised from rights issueRs. 42,69,55,905.50
- Funds utilised out of rights issue proceeds1,902.91 lakh
- Unutilised amount (warehouse construction)2,414.31 lakh
- Half year ended Sept 2026 net profit50.33 lakh
- September 2026 quarter net loss(6.81) lakh
- Total equity as at 30.09.20264,551.52 lakh
- Loans & advances (current) as at 30.09.20263,532.93 lakh
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