Appointment of Mr. Prem Prakash Dharnia & Assocites as the Internal Auditor of the company for the Financial Year 2026-27.
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Adhbhut Infrastructure Limited held its Board Meeting on May 28, 2026, approving audited financial results for Q4 and FY2026 along with appointing Mr. Prem Prakash Dharnia & Associates as Internal Auditor for FY 2026-27. The company reported a net loss of Rs. 150.36 lakhs for FY2026, compared to Rs. 95.17 lakhs loss in FY2025, with revenue declining to Rs. 61.41 lakhs from Rs. 82.62 lakhs. Accumulated losses stand at Rs. 2,487.91 lakhs, completely eroding the company's net worth (negative other equity of Rs. 1,934.96 lakhs). The statutory auditors Chatterjee & Chatterjee raised a material uncertainty about the company's ability to continue as a going concern. Additionally, the secretarial compliance report revealed multiple regulatory non-compliances including delayed financial disclosures and delayed Company Secretary appointments, with BSE imposing fines totaling approximately Rs. 5 lakhs (some later waived). Separately, properties and promoter shares remain under provisional attachment by the Enforcement Directorate under PMLA provisions.
The stock faces significant headwinds given persistent losses, negative net worth, and ongoing regulatory scrutiny. While appointing a new internal auditor is routine, the company's weak financial position and governance issues make it a high-risk investment. Shareholders should exercise caution given the going concern warning and Enforcement Directorate attachment.