Submitted of Integrated filing (Financial) for the Quarterly and year ended 31st march 2025
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AMS Polymers Limited (formerly Sai Moh Auto Links Limited) filed its audited standalone financial results for the quarter and year ended March 31, 2025. The auditor, KVA & Company, issued an ADVERSE OPINION on the financial statements, citing serious issues including: no proper fixed asset register, inability to verify inventory existence and valuation, absence of ageing schedules and external confirmations for trade receivables/payables with no provision for doubtful debts despite long-outstanding receivables, no gratuity provision as required under Ind AS 19, and non-compliance with related party transaction rules under Sections 177 and 188 of the Companies Act. Revenue grew approximately 20.6% to ₹10,096.36 lacs (from ₹8,371.41 lacs), while net profit rose to ₹77.01 lacs (from ₹26.39 lacs). However, operating cash flow was negative at ₹(172.19) lacs, and short-term borrowings more than doubled to ₹5,178.59 lacs from ₹2,489.90 lacs.
This is a major red flag for shareholders — an adverse audit opinion means the financial statements may not give a true and fair view of the company's position. Despite headline revenue and profit growth, the combination of pervasive accounting weaknesses, negative operating cash flow, surging short-term debt, and governance lapses on related party transactions signals serious underlying risks that could weigh heavily on the stock.