Audited Fiancial Statement for the Quarter and year ended 31st March 2025
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AMS Polymers Limited (formerly Sai Moh Auto Links Limited) reported FY25 audited results showing total income of Rs. 10,096.36 lakhs, up about 20.6% from Rs. 8,371.48 lakhs in FY24. Net profit after tax stood at Rs. 56.09 lakhs versus a lower base in FY24. However, statutory auditor KVA & Company issued an ADVERSE OPINION citing five major failures: no proper fixed asset register, unverifiable inventory, missing ageing schedules for receivables/payables with no provision for doubtful debts, no gratuity provisioning under Ind AS 19, and non-compliance with related party transaction rules under Sections 177/188/189 of the Companies Act, 2013. BSE had flagged non-compliance with Regulation 33 as the company initially failed to submit the Statement on Impact of Audit Qualifications. Cash flow from operations was negative at Rs. (172.19) lakhs. The company also appointed a new Internal Auditor (A Saini & Associates) and Secretarial Auditor (Kundan Agrawal & Associates).
The adverse audit opinion is a serious red flag — it means the financial statements may not present a true and fair view of the company's position, raising governance and reliability concerns. Combined with negative operating cash flow and weak internal controls, shareholders should treat this stock as high-risk pending corrective action by management and possible regulatory scrutiny from BSE/SEBI.