Standalone and Consolidated Audited Financial Results of the Company for the quarter and financial year ended March 31, 2026
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Anka India Ltd reported consolidated revenue of Rs. 1,887.45 Lakhs for FY26, up from Rs. 1,420.69 Lakhs in FY25 (~40% growth), driven by its newly acquired subsidiary Futech Internet Private Limited (acquired via reverse merger in June 2025). However, the company continues to incur losses with consolidated loss before tax of Rs. 26.58 Lakhs (improved from Rs. 37.99 Lakhs loss in FY25). The auditors issued a QUALIFIED OPINION on both standalone and consolidated financials, citing two main concerns: (1) Goodwill of Rs. 18.96 Crores arising from consolidation has not been tested for impairment despite the company having no business operations, and (2) MAT credit of Rs. 35.38 Lakhs is recognized as an asset despite the company's history of losses. Standalone financials show revenue of Rs. 59.06 Lakhs with a loss of Rs. 70.85 Lakhs, reflecting minimal operational activity.
The qualified opinion raises red flags about asset valuations and going concern assumptions. The Rs. 18.96 Crore goodwill untested for impairment could significantly impact future financials if impaired. Shareholders should monitor closely as the company has minimal standalone revenue generation and heavy reliance on subsidiary performance.