1. Approved the Annual Audited Financial Statements for the financial year ended March 31, 2026 comprising of the Balance Sheet as at March 31, 2026, the Statement of Profit & Loss and ....
Awaiting price reaction for this filing.
Neogem India Ltd's auditors issued an Adverse Opinion on the FY2026 financial statements. The company reported a net loss of Rs 20.86 lakh and has a negative net worth of Rs 35.93 crore. The auditors found the company unable to repay its current and non-current liabilities, with material uncertainty about its ability to continue as a going concern. Key concerns include: bank loans (Rs 10 crore from PNB and Rs 5 crore from Bank of India) classified as Non-Performing Assets since 2016; unrealized sundry debtors outstanding over 3 years worth Rs 41.11 crore; and the company has stopped manufacturing since January 2018. The financial statements do not give a true and fair view as required under the Companies Act.
This is a severely negative development. The adverse opinion and going concern doubts indicate extreme financial distress, with negative net worth and non-performing bank loans. Shareholders face significant risk as the company may be unable to realize assets or discharge liabilities in the normal course of business.