Board approves Sept 2026 results; Ray & Ray appointed statutory auditor for FY 2026-27

The Board met on 8 October 2026 and approved the unaudited financial results for the quarter and half year ended 30 September 2026.

Thu 8 Oct 2026

Total Revenue (Q2 Sep 2026)

Rs. 25.87 lakhs

Total Expenses (Q2 Sep 2026)

Rs. 26.50 lakhs

Loss for the Quarter

Rs. (0.63) lakhs

Board approves September 2026 results

Ind Bank Housing Ltd held a Board meeting on 8 October 2026 and approved its unaudited financial results, along with the limited review report, for the quarter and half year ended 30 September 2026. The meeting commenced at 12.30 PM and concluded at 2.10 PM.

What the Board approved

• Un-audited Financial Results and Limited Review Report for the quarter and half year ended 30 September 2026.
• Appointment of M/s Ray & Ray, Chartered Accountants, Chennai, as statutory auditors of the company for FY 2026-27. The appointment was made by the Comptroller and Auditor General of India; the Board took note of the appointment and fixed the auditors' remuneration. The firm's head office is in Kolkata and it has branch offices in New Delhi, Mumbai, Bengaluru and Chennai.

The quarter's numbers

• Revenue from operations: Rs. 0.00. Other income: Rs. 25.87 lakhs, which is also the total revenue for the quarter.
• Total expenses: Rs. 26.50 lakhs, giving a loss before tax of Rs. (0.63) lakhs and a loss for the period of Rs. (0.63) lakhs. Tax expense was Rs. 0.00.
• Basic and diluted EPS for the quarter: Rs. (0.01).

The half year's numbers

• Total revenue: Rs. 345.17 lakhs and profit before tax Rs. 255.57 lakhs.
• Tax expense of Rs. (131.34) lakhs and profit for the period of Rs. 386.91 lakhs.
• Basic and diluted EPS for the half year: Rs. 3.87.

Balance sheet as at 30 September 2026

• Total assets: Rs. 1,581.82 lakhs.
• Borrowings: Rs. 12,100.00 lakhs, against Rs. 12,900.00 lakhs as at 31 March 2026.
• Equity share capital: Rs. 1,000.00 lakhs; total equity: Rs. (11,709.36) lakhs.
• Cash and cash equivalents: Rs. 52.19 lakhs.

From the cash flow statement for the period ended 30.09.2026

• Cash generated from operations: Rs. 878.54 lakhs.
• Term loan repayment: Rs. 800.00 lakhs, within net cash used in financing activities of Rs. (801.10) lakhs.
• Net decrease in cash and cash equivalents: Rs. (1,416.46) lakhs.

Auditor's review report

Ray & Ray states that nothing has come to its attention that causes it to believe the accompanying statement of unaudited financial results has not been prepared in all material aspects in accordance with applicable accounting standards, and that it does not express an audit opinion, as a review is substantially less in scope than an audit.

The report also draws attention to Note 2, which states that the company's Certificate of Registration to carry on the business of housing finance was cancelled by the Reserve Bank of India, and that the Board resolved to discontinue the company's HFC/NBFC activities with immediate effect. Following a later Board direction, the company's activities are presently substantially confined to recovery of outstanding advances and receivables through realisation of mortgaged assets and resolution of pending legal matters. The auditors state that these events and circumstances give rise to a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern, and that their conclusion is not modified in respect of this matter.

What investors may take away

• The Board approved the September 2026 quarter and half year results, and a new statutory auditor was appointed for FY 2026-27.
• The quarter's total income of Rs. 25.87 lakhs is other income, with revenue from operations at Rs. 0.00, and the quarter ended with a loss of Rs. (0.63) lakhs.
• The balance sheet carries borrowings of Rs. 12,100.00 lakhs against total assets of Rs. 1,581.82 lakhs, and total equity of Rs. (11,709.36) lakhs.
• The auditor's review report includes a note on material uncertainty relating to going concern, linked to the cancellation of the housing finance registration and the discontinuation of HFC/NBFC activities.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.