outcome of Board Meeting for audit results and other matters
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Afloat Enterprises Limited (formerly Adishakti Loha and Ispat Limited) reported audited financial results for FY 2025-26 with revenue declining sharply to Rs. 179.79 lakhs from Rs. 609.85 lakhs in the previous year - a 70.5% drop. Profit after tax fell to just Rs. 0.06 lakhs from Rs. 27.43 lakhs in FY 2024-25. The company's H1 (April-Sept 2025) showed a loss of Rs. 17 lakhs while H2 recovered with profit of Rs. 17.06 lakhs. Statutory auditors V.N. Purohit & Co. issued an unmodified (clean) opinion on the financial statements. The Board approved appointment of M/s Shweta Goel & Co as internal auditors for FY 2026-27. Multiple related party transactions were disclosed including loans to/from directors and related entities, sale of goods, and remuneration payments. Operating cash flow was negative at Rs. 1,042.64 lakhs, primarily due to increases in inventory and trade receivables.
The stock may face pressure due to severe revenue decline and near-zero profitability. However, the clean audit opinion provides some comfort to investors. The significant related party transactions and negative operating cash flow warrant close monitoring.