Adverse audit opinion on FY26 results; plant auctioned by bank

Board approved audited FY26 and Q1 FY27 results. Auditor issued an adverse opinion citing material going concern uncertainty. Company defaulted on Union Bank loans and the bank auctioned the entire plant and machinery for Rs 382 lakhs in May 2026. Revenue from operations is nil. FY26 net loss narrowed to Rs 1,010.85 lakhs from Rs 2,107.50 lakhs, aided by a lower inventory write-off of Rs 613.92 lakhs. Statutory dues remain unpaid and equity is nearly wiped out with negative other equity.