Integrated Filing (Finance) for the Quarter and Year ended on 31st March, 2026
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Add-Shop ERetail Ltd reported flat revenue of Rs 15,520.40 Lakhs for FY2026, nearly unchanged from Rs 15,512.95 Lakhs in FY2025. However, profit after tax dropped significantly by 66% to Rs 36.06 Lakhs from Rs 105.40 Lakhs in the prior year. The auditors flagged that trade receivables stand at 72.24% of annual revenue, indicating very high debtor holding periods. They also noted inability to verify one-to-one transactions for Rs 23.23 crore in distribution commissions, incentives and bonuses due to party-wise accounting limitations. Related party transactions include Rs 6.31 crore in purchases from Dada Organics Ltd (a company where directors have interest) and unsecured loans repaid to Managing Director Dineshkumar Pandya.
The sharp profit decline despite stable revenue signals cost pressure or margin compression. High receivables and auditor's inability to verify large expense transactions raise concerns about earnings quality and internal controls, which could negatively impact investor confidence.