Submission of Auditor Financial Statement for the Quarter and Year Ended 31st March 2025
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Awaiting price reaction for this filing.
AMS Polymers Ltd reported FY25 revenue of ₹10,096.36 lakhs, up ~20.6% from ₹8,371.48 lakhs in FY24, with net profit of ₹77.01 lakhs (up ~26.6% from ₹60.82 lakhs). However, the statutory auditor KVA & Company issued an ADVERSE OPINION on the financial statements, citing the company's failure to maintain a proper Fixed Asset Register, lack of inventory verification, missing ageing schedules for receivables, no provision for doubtful debts or gratuity, and non-compliance with related party transaction rules under the Companies Act. The company separately filed a declaration claiming an 'unmodified opinion,' which directly contradicts the auditor's report. Operating cash flow was negative at ₹(172.19) lakhs, and short-term borrowings more than doubled to ₹5,178.59 lakhs.
This is a serious red flag for shareholders — an adverse audit opinion means the auditor believes the financial statements are materially misrepresented and do not give a true and fair view of the company's finances. The contradiction between the company's 'unmodified opinion' declaration and the actual adverse opinion raises serious governance concerns. Investors should treat this stock with extreme caution and expect significant negative price reaction and regulatory scrutiny.