Approval of Audited Financial Results for the financial results for the financial year ended 31st March 2026.
Awaiting price reaction for this filing.
Turner Industries Limited reported zero revenue from operations for FY 2025-26, continuing its loss-making trend with a net loss of Rs. 2.06 Lakhs (improved from Rs. 2.64 Lakhs loss in FY 2024-25). The company has negative reserves of Rs. 390.67 Lakhs against a share capital of Rs. 401.31 Lakhs, resulting in a negative net worth of Rs. 10.65 Lakhs total equity. Borrowings stand at Rs. 39.73 Lakhs (primarily director loans), giving a high debt-equity ratio of 3.73. The auditor issued an unqualified opinion confirming true and fair view. Cash and cash equivalents are minimal at Rs. 0.68 Lakhs with negative operating cash flow of Rs. 0.43 Lakhs.
The company is essentially dormant with no operating income and negative net worth, indicating severe financial distress. The high debt-equity ratio and negative cash flows from operations raise significant concerns about sustainability despite the clean audit opinion.