Gallantt Ispat clarifies financial results discrepancy with NSE
Gallantt Ispat Limited clarified to NSE that its standalone and consolidated financial results for Q1FY27 were identical due to format non-compliance. The company stated it has adhered to Schedule III of the Companies Act and Indian Accounting Standards. Its wholly-owned subsidiary, Suryalaxmi Technologies, currently has no revenue or profit.
This is a routine clarification to the stock exchange regarding the format of previously submitted financial results. It does not involve new financial performance, strategic changes, or significant corporate actions that would materially impact the company.
The announcement is a clarification to the stock exchange regarding financial result discrepancies. While it addresses a query, it does not contain new positive or negative financial information or strategic developments.
Gallantt Ispat Limited has responded to a clarification request from the National Stock Exchange of India (NSE) regarding a discrepancy observed in the standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The company submitted these results on July 27, 2026.
In its reply, Gallantt Ispat stated that the financial results submitted were not in the prescribed format under Schedule III of the Companies Act, 2013, or as per Indian Accounting Standard, leading to identical figures for both standalone and consolidated results. The company asserts that it has fully complied with the requirements of Schedule III of the Companies Act, 2013, as well as Indian Accounting Standards.
Furthermore, the company clarified that Suryalaxmi Technologies Private Limited, a wholly-owned subsidiary, has no revenue or profit to date. Gallantt Ispat's management is planning to establish business units through this subsidiary, and necessary steps will be taken for this purpose, although no business has been explored at present.
A plain-language summary of a public exchange filing by Gallantt Ispat Limited. Read the original for the full detail.