SPEL Semiconductor Limited

Financial Results Summary

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹19.89 lakh
  • Other Income: ₹88.32 lakh
  • Total Income: ₹108.19 lakh
  • Total Expenses: ₹188.25 lakh
  • Loss before tax: ₹(80.05) lakh
  • Loss for the period: ₹(80.05) lakh
  • Basic EPS: ₹(0.17) per share of ₹10 face value

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹27.88 lakh
  • Other Income: ₹128.60 lakh
  • Total Income: ₹156.47 lakh
  • Total Expenses: ₹370.59 lakh
  • Loss before tax: ₹(214.11) lakh
  • Loss for the period: ₹(214.11) lakh
  • Basic EPS: ₹(0.46) per share

Balance Sheet Position (as at September 30, 2026)

Assets: ₹114.29 crore

  • Non-Current Assets: ₹75.18 crore (including Property, Plant & Equipment: ₹25.32 crore, Investment Property: ₹48.96 crore)
  • Current Assets: ₹40.07 crore (including Inventories: ₹2.82 crore, Trade Receivables: ₹14.83 lakh, Cash & Cash Equivalents: ₹0.07 lakh)

Liabilities & Equity: ₹114.29 crore

  • Equity Share Capital: ₹46.11 crore
  • Other Equity: ₹(90.32) crore (negative)
  • Non-Current Liabilities: ₹37.25 crore (including Borrowings: ₹10.49 crore)
  • Current Liabilities: ₹76.13 crore (including Borrowings: ₹9.92 crore, Trade Payables: ₹361.01 lakh)

Cash Flow Highlights (Half Year Ended September 30, 2026)

  • Net cash used in operating activities: ₹(53.08) lakh
  • Net cash from investing activities: ₹172.23 lakh (including ₹100 lakh advance received against sale of capital assets)
  • Net cash used in financing activities: ₹(119.22) lakh
  • Net decrease in cash: ₹(0.07) lakh

Auditor's Qualified Opinion

Venkatesh & Co issued a limited review report with qualified conclusion citing:

1. Material uncertainty regarding going concern due to continued losses and negative cash flows

2. Significant reduction in employee strength due to resignations

3. Major plant machinery breakdown with production suspended during the quarter

4. Trade receivables of ₹14.83 lakh (net) and trade payables of ₹361.09 lakh subject to confirmation and reconciliation

Operational Context

  • Factory operations remain suspended since January 14, 2026, as approved by Board
  • Revenue primarily represents residual export and other sales
  • Company pursuing restart through: capital infusion via surplus land sale, mobilizing funds from financial institutions, partnering with strategic investors, and rights issue
  • Received ₹200 lakh advance against sale of surplus land during half year
  • Business now reported in two segments: Manufacture/Sale of Integrated Circuits and Leasing of Surplus Land