Revised outcome
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
AMS Polymers resubmitted its board meeting outcome for May 28, 2025 after BSE flagged missing details like meeting conclusion time and SEBI format issues. The board approved standalone audited results for Q4 and FY ended March 31, 2025, reporting revenue of ₹10,096.36 lacs (up ~20.6% from ₹8,371.46 lacs last year) and net profit of ₹77.01 lacs (up from ₹21.19 lacs). However, the auditor KVA & Company issued an adverse opinion, citing the company's failure to maintain proper fixed asset records, no inventory verification, missing ageing schedules for receivables/payables, no gratuity provisioning, and non-compliance with related-party transaction rules. The board also appointed a new Secretarial Auditor (5-year term) and Internal Auditor for FY26. Short-term borrowings surged to ₹5,178.59 lacs against equity of just ₹523.64 lacs, and operating cash flow remained negative at ₹(172.19) lacs.
This is a major red flag for shareholders — an adverse audit opinion indicates the financial statements may not present a true and fair view, raising serious questions about asset existence, recoverability of receivables, and governance. Combined with very high leverage (~9.9x debt-to-equity) and persistent negative operating cash flow, the stock carries significant fundamental risk despite headline profit growth.