CMI Ltd FY26 loss at ₹11.36 cr, revenue dips in 2026

What CMI Ltd reported for FY26

CMI Ltd has reported a wider net loss for the financial year ended March 31, 2026, alongside a decline in revenue from operations. The cable manufacturer continues to operate under the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. As per the exchange update, the company’s Board of Directors has its powers suspended during the CIRP process. The audited financial results were approved in mid-September 2026, with the approval routed through the resolution professional.

The disclosure came under Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company said the board approved the audit report, audited financial results, and the statement on impact of audit qualifications. The filings also name Deepak Maini as the Resolution Professional who authorised the approval.

Board approval and exchange disclosures

CMI Ltd informed BSE that a board meeting was scheduled on September 16, 2026, to consider and approve audited financial results for the quarter and year ended March 31, 2026. The company subsequently disclosed that the Board of Directors (power suspended), acting under the provisions of the Insolvency and Bankruptcy Code, approved the audited results upon authorisation of the Resolution Professional.

In the provided text, the approval date appears in two forms. One exchange-linked description states the approval took place on September 16, 2026. Another part of the text references that the board approved the results on September 15, 2026 under the same authorisation framework. What remains consistent across the references is that the board’s powers were suspended and the approval was made through the resolution professional during CIRP.

FY26 financial snapshot: loss widens, revenue slips

For FY26, CMI Ltd reported a net loss of ₹11.36 crore, compared with a net loss of ₹11.03 crore in FY25. Revenue from operations fell to ₹55.34 crore in FY26 from ₹57.46 crore in FY25. The numbers indicate that while the year-on-year movement in loss was modest, operating revenue declined.

The filings and summaries also include balance sheet aggregates. Total assets were reported at ₹297.18 crore and total liabilities at ₹454.98 crore. Separately, the text flags that total equity turned negative at ₹(152.61) crore due to accumulated losses exceeding paid-up capital.

Q4FY26 performance: March quarter loss increases

For the quarter ended March 31, 2026, CMI Ltd posted a net loss of ₹3.49 crore. This compared with a net loss of ₹2.85 crore in the corresponding quarter of the previous year. The quarter-level data, combined with the full-year numbers, frames FY26 as another loss-making year for the company while it remains under insolvency resolution.

The disclosure is positioned as audited for the quarter and the full year, distinguishing it from other unaudited back-period results discussed in the same set of September 2026 exchange references.

Auditor stance: qualified opinion and going-concern uncertainty

Statutory auditors Kumar Pramod & Associates issued a qualified opinion on the financial statements in the audited set referenced. The audit report highlighted material uncertainty regarding the company’s ability to continue as a going concern. The text cites accumulated losses of ₹173.83 crore against a paid-up share capital of ₹16.03 crore.

In other back-period reporting described in the provided content, the same audit firm also issued a disclaimer of opinion for unaudited financial results, citing insufficient appropriate audit evidence due to the company’s CIRP status. The key audit limitations listed in the text included the inability to obtain sufficient evidence for items such as fixed asset records, bank confirmations, and quantitative inventory details.

A series of September 2026 meetings for back-period results

The exchange filings described in the text indicate that CMI Ltd used multiple September 2026 board meetings to approve results for earlier reporting periods. Besides the audited FY26 approval meeting, the company also scheduled meetings to consider unaudited results for periods ended September 30, 2025 and December 31, 2025.

This sequencing matters because the company’s board functions under CIRP constraints, and the exchange updates repeatedly flag that decisions were taken with the board’s powers suspended and subject to authorisation by the Resolution Professional.

Key numbers table (normalised to ₹ crore)

Timeline table: results-related board meetings cited

Market impact and what investors track

The most direct market relevance in the disclosure is the continued loss position and the revenue decline year-on-year, along with the stressed balance sheet indicators provided. The text also points to the operational and reporting constraints of a company under CIRP, where the board’s powers are suspended. For investors, the audit outcomes are also material because the filings include a qualified opinion for the audited set, and the narrative across other periods includes a disclaimer of opinion linked to evidence limitations under CIRP.

Another factor investors typically monitor in such cases is the degree of financial stress reflected through accumulated losses versus paid-up capital, and the negative equity position cited in the text. The company’s stated assets and liabilities numbers also underscore the leverage and the balance-sheet gap presented in the filing summary.

Why the FY26 filing matters (analysis)

The FY26 audited filing matters because it updates the market on performance for the full year ended March 2026 and provides an audit position that highlights going-concern uncertainty. The combination of widening annual loss and declining revenue shows that the operating environment remains challenging. At the same time, the disclosure framework under SEBI LODR and the repeated references to approvals under authorisation of the resolution professional indicate that governance and reporting are being carried out within CIRP constraints.

The audit commentary is central to interpreting these results. A qualified opinion and a stated material uncertainty on going concern, along with the cited accumulated losses and paid-up capital figures, provide context on the company’s financial condition as of the reporting date. Separately, the disclaimer language referenced for other periods illustrates the practical difficulty of obtaining audit evidence while the company is under insolvency resolution.

Conclusion

CMI Ltd’s audited FY26 results show a net loss of ₹11.36 crore and revenue from operations of ₹55.34 crore, with the approval recorded during the ongoing CIRP process. The statutory auditor’s qualified opinion and the going-concern uncertainty flagged in the text remain key items for stakeholders. Exchange filings cited also show a mid-September 2026 sequence of board meetings to clear unaudited and audited results for multiple earlier periods. The next updates to watch will be further exchange disclosures tied to CIRP-led actions and any subsequent financial reporting approvals referenced by the company.