SPEL Semiconductor reported a standalone net loss of ₹23.84 crore for FY 2025-26, with auditors issuing a qualified opinion due to material uncertainties casting significant doubt on its ability to continue as a going concern.
The Board approved the audited financial results for the year ended March 31, 2026, and terminated the services of CFO Mr. Thiruvenkatachari Parthasarathy effective May 19, 2026.
Critical operational challenges included major plant machinery breakdowns leading to suspended production in Q4 FY26, significant employee resignations, and negative cash flows from operations.
Management is pursuing a turnaround strategy involving the sale of 8.14 acres of surplus lease land and seeking low-cost debt funding alongside potential customer collaborations for business revival.