Talwalkars reports net loss of ₹8,738.29 lakh in FY26
June 02, 2026
Talwalkars Better Value Fitness Limited reported a net loss of ₹8,738.29 lakh for the financial year ended March 31, 2026, primarily due to exceptional items of ₹7,553.00 lakh recognized under Fresh Start Accounting after an NCLT Relief Order. The Board approved the audited standalone financial results on May 30, 2026, with total revenue at ₹14.29 lakh. The statutory auditor issued an unmodified opinion but noted material uncertainty regarding the company's status as a going concern, dependent on SEBI approvals and the lifting of trading suspensions.
Talwalkars Better Value Fitness Limited reported a net loss of ₹8,738.29 lakh for the financial year ended March 31, 2026, following the approval of its audited standalone financial results by the Board of Directors on May 30, 2026. The loss for the quarter and year ended March 31, 2026, was primarily driven by exceptional items amounting to ₹7,553.00 lakh, recognized pursuant to the execution of Fresh Start Accounting after an NCLT Relief Order. The company's total revenue for the year stood at ₹14.29 lakh, while total expenses were ₹1,199.59 lakh.
NCLT Relief Order and Fresh Start Accounting
During the quarter ended March 31, 2026, the Hon'ble NCLT, Mumbai Bench, pronounced a Relief Order on February 26, 2026, which permanently extinguished all pre-transfer liabilities of financial and operational creditors and cancelled the existing equity share capital without payment to shareholders. Pursuant to this order, the company executed Fresh Start Accounting, writing back extinguished liabilities to Capital Reserve and recording transferred assets at management-determined values. The statutory auditor, M/s. S K Bhavsar & Co., Chartered Accountants, issued an unmodified opinion on the financial results.
Key Financial Metrics for FY26
The financial results reflect the impact of the corporate restructuring and the transition from liquidation to a going concern. The company reported a basic loss per share of ₹2.82 for the year ended March 31, 2026. The paid-up equity share capital remained at ₹3,100.49 lakh with a face value of ₹10.00 per share, pending formal cancellation and reissuance. The company confirmed it is not classified as a "Large Corporate" as per SEBI criteria, with outstanding borrowings of ₹10 Crores as on March 31, 2026.
Period Total Revenue (₹ in lakhs) Net Profit / (Loss) (₹ in lakhs) Basic EPS (₹) Year ended March 31, 2026 14.29 (8,738.29) (2.82) Year ended March 31, 2025 3.62 (2,092.85) (0.68) Quarter ended March 31, 2026 14.29 (7,928.74) (2.56)
Auditor's Emphasis and Material Uncertainty
The auditor's report highlighted several emphasis of matter points, including the NCLT Relief Order, the execution of Fresh Start Accounting, and the impairment of fixed assets where the exact realizability of balances has not yet been ascertained. Additionally, the auditor noted a material uncertainty related to the company's status as a going concern, dependent on the successful completion of pending SEBI approvals and the lifting of the trading suspension on BSE and NSE. Comparative figures for the previous year were reconstructed on a best-effort basis from fragmented records due to the liquidation period.
Talwalkars Better Value Fitness Limited reported a net loss of ₹269.85 lakh for the quarter ended December 31, 2025, as the company continues to operate under new management following its acquisition. The financial results, which were reviewed by the Audit Committee and approved by the Board of Directors on May 30, 2026, show zero revenue from operations for the quarter and the nine-month period ended December 31, 2025. The company's ability to continue as a going concern is subject to material uncertainties regarding pending SEBI approvals and the lifting of trading suspensions on BSE and NSE.
Financial Performance
The company recorded a total expense of ₹269.85 lakh for Q3FY26, driven entirely by depreciation and amortization expenses of ₹269.85 lakh. For the nine months ended December 31, 2025, the net loss stood at ₹809.55 lakh, with total expenses reaching ₹809.55 lakh. In comparison, the net loss for the year ended March 31, 2025, was ₹2,092.86 lakh. The paid-up equity share capital remained constant at ₹3,100.49 lakh with a face value of ₹10 per share.
Particulars Quarter ended December 31, 2025 (₹ in lakhs) Quarter ended September 30, 2025 (₹ in lakhs) Nine Months ended December 31, 2025 (₹ in lakhs) Revenue From Operations - - - Total Expenses 269.85 269.85 809.55 Net Profit/(Loss) (269.85) (269.85) (809.55)
NCLT Relief and Accounting Changes
Subsequent to the quarter end, the Hon'ble NCLT, Mumbai Bench, pronounced a Relief Order on February 26, 2026. The order legally confirms the reconstitution of the Board and the permanent extinguishment of all pre-transfer dues and liabilities. It also grants the company absolute immunity under Section 32A of the Insolvency and Bankruptcy Code, 2016, for pre-transfer non-compliances. Consequently, the existing equity share capital stands cancelled without payout, and the company is entitled to issue 1,00,00,000 new equity shares.
Pursuant to the NCLT order, the company adopted Fresh Start Accounting effective the Transfer Date, November 7, 2024. Under this method, pre-transfer liabilities have been written back to Capital Reserve, and transferred assets are recorded at management-determined values. The comparative financial information for previous periods has been compiled on a best-effort basis from available fragmented records, as the company was under active liquidation proceedings during those periods and formal Ind AS compliant financial statements were not prepared.
Going Concern and Regulatory Status
The financial results have been prepared on a going concern basis, supported by the legal protections provided by the IBC and the reconstitution of the Board with professional management. However, the company's ability to continue as a going concern depends on the successful completion of pending SEBI approvals, the lifting of the BSE/NSE trading suspension, and the regularization of various regulatory compliances. As of the date of these results, trading in equity shares remains suspended on both exchanges.
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NCLT Relief Order and Fresh Start Accounting
During the quarter ended March 31, 2026, the Hon'ble NCLT, Mumbai Bench, pronounced a Relief Order on February 26, 2026, which permanently extinguished all pre-transfer liabilities of financial and operational creditors and cancelled the existing equity share capital without payment to shareholders. Pursuant to this order, the company executed Fresh Start Accounting, writing back extinguished liabilities to Capital Reserve and recording transferred assets at management-determined values. The statutory auditor, M/s. S K Bhavsar & Co., Chartered Accountants, issued an unmodified opinion on the financial results.
Key Financial Metrics for FY26
The financial results reflect the impact of the corporate restructuring and the transition from liquidation to a going concern. The company reported a basic loss per share of ₹2.82 for the year ended March 31, 2026. The paid-up equity share capital remained at ₹3,100.49 lakh with a face value of ₹10.00 per share, pending formal cancellation and reissuance. The company confirmed it is not classified as a "Large Corporate" as per SEBI criteria, with outstanding borrowings of ₹10 Crores as on March 31, 2026.
Period Total Revenue (₹ in lakhs) Net Profit / (Loss) (₹ in lakhs) Basic EPS (₹) Year ended March 31, 2026 14.29 (8,738.29) (2.82) Year ended March 31, 2025 3.62 (2,092.85) (0.68) Quarter ended March 31, 2026 14.29 (7,928.74) (2.56)
Auditor's Emphasis and Material Uncertainty
The auditor's report highlighted several emphasis of matter points, including the NCLT Relief Order, the execution of Fresh Start Accounting, and the impairment of fixed assets where the exact realizability of balances has not yet been ascertained. Additionally, the auditor noted a material uncertainty related to the company's status as a going concern, dependent on the successful completion of pending SEBI approvals and the lifting of the trading suspension on BSE and NSE. Comparative figures for the previous year were reconstructed on a best-effort basis from fragmented records due to the liquidation period.
Talwalkars Better Value Fitness Limited reported a net loss of ₹269.85 lakh for the quarter ended December 31, 2025, as the company continues to operate under new management following its acquisition. The financial results, which were reviewed by the Audit Committee and approved by the Board of Directors on May 30, 2026, show zero revenue from operations for the quarter and the nine-month period ended December 31, 2025. The company's ability to continue as a going concern is subject to material uncertainties regarding pending SEBI approvals and the lifting of trading suspensions on BSE and NSE.
Financial Performance
The company recorded a total expense of ₹269.85 lakh for Q3FY26, driven entirely by depreciation and amortization expenses of ₹269.85 lakh. For the nine months ended December 31, 2025, the net loss stood at ₹809.55 lakh, with total expenses reaching ₹809.55 lakh. In comparison, the net loss for the year ended March 31, 2025, was ₹2,092.86 lakh. The paid-up equity share capital remained constant at ₹3,100.49 lakh with a face value of ₹10 per share.
Particulars Quarter ended December 31, 2025 (₹ in lakhs) Quarter ended September 30, 2025 (₹ in lakhs) Nine Months ended December 31, 2025 (₹ in lakhs) Revenue From Operations - - - Total Expenses 269.85 269.85 809.55 Net Profit/(Loss) (269.85) (269.85) (809.55)
NCLT Relief and Accounting Changes
Subsequent to the quarter end, the Hon'ble NCLT, Mumbai Bench, pronounced a Relief Order on February 26, 2026. The order legally confirms the reconstitution of the Board and the permanent extinguishment of all pre-transfer dues and liabilities. It also grants the company absolute immunity under Section 32A of the Insolvency and Bankruptcy Code, 2016, for pre-transfer non-compliances. Consequently, the existing equity share capital stands cancelled without payout, and the company is entitled to issue 1,00,00,000 new equity shares.
Pursuant to the NCLT order, the company adopted Fresh Start Accounting effective the Transfer Date, November 7, 2024. Under this method, pre-transfer liabilities have been written back to Capital Reserve, and transferred assets are recorded at management-determined values. The comparative financial information for previous periods has been compiled on a best-effort basis from available fragmented records, as the company was under active liquidation proceedings during those periods and formal Ind AS compliant financial statements were not prepared.
Going Concern and Regulatory Status
The financial results have been prepared on a going concern basis, supported by the legal protections provided by the IBC and the reconstitution of the Board with professional management. However, the company's ability to continue as a going concern depends on the successful completion of pending SEBI approvals, the lifting of the BSE/NSE trading suspension, and the regularization of various regulatory compliances. As of the date of these results, trading in equity shares remains suspended on both exchanges.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.
We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.
Disclaimer:
The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.
This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.
The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.
We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.
This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.
By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.
We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.