Annual Financial Results of the Company for the quarter and financial year ended March 31, 2026
Awaiting price reaction for this filing.
Carnation Industries Limited reported FY2026 revenue of Rs. 170 Lakhs, flat versus the prior year (Rs. 170 Lakhs). However, net profit turned negative at Rs. 13.18 Lakhs loss compared to Rs. 142.44 Lakhs profit in FY2025, driven by significantly lower other income (Rs. 26.72 Lakhs vs Rs. 233.84 Lakhs) due to one-time resolution plan benefits in the prior year. The company emerged from NCLT insolvency proceedings with liabilities of Rs. 233.84 Lakhs written back in FY2025. The auditor issued an unmodified opinion but raised 8 'Emphasis of Matter' notes flagging governance issues: speculative transactions outside core business, unauthorized borrowings and loans exceeding statutory limits without prior shareholder approval, non-filing of share capital alteration with ROC, incomplete name change and registered office shift, unsatisfied charge with ICICI Bank, and unclaimed dividend not transferred to IEPF. Total assets grew from Rs. 230.72 Lakhs to Rs. 1,676.54 Lakhs largely due to restructuring. The company is acquiring Oniv Beverages Private Limited and paying Rs. 332.50 Lakhs advance for another acquisition. Borrowings stand at Rs. 1,362.07 Lakhs with negative other equity of Rs. 195.81 Lakhs.
The company swung to a net loss due to absence of one-time resolution plan income seen in FY2025. Multiple regulatory compliance failures flagged by auditors—unauthorized borrowings, non-filing of corporate actions—raise governance concerns despite clean audit opinion. Negative equity and negative operating cash flow of Rs. 72.80 Lakhs indicate financial stress.