Announcement under Regulation 30 for outcome of Board meeting held on 12.08.2025.
Awaiting price reaction for this filing.
Longview Tea Company reported unaudited results for Q1 FY26 showing total income of Rs. 88.16 lakhs, down sharply from Rs. 191.42 lakhs in Q1 FY25, with revenue from operations (trading activity) falling to zero from Rs. 101.72 lakhs. Net profit stood at Rs. 25.19 lakhs vs Rs. 58.09 lakhs in the year-ago quarter. The statutory auditor (V. Singhi & Associates) issued a Disclaimer of Conclusion, stating they could not obtain sufficient appropriate audit evidence due to non-cooperation from the previous management, which did not hand over records, books, and statutory documents. The auditor also flagged ongoing NCLT proceedings under Sections 241/242 of the Companies Act and a show-cause notice from the Registrar of Companies under Section 206.
This is a deeply negative filing for shareholders — the auditor's disclaimer signals they cannot vouch for the accuracy of the financials, the company has lost its entire trading revenue, and legacy NCLT/ROC issues plus the previous management's non-cooperation raise serious going-concern and governance red flags. Investors should expect heightened scrutiny, potential further regulatory action, and significant stock price risk.