As per attachment
Awaiting price reaction for this filing.
Procal Electronics India Ltd's board approved unaudited financial results for the quarter ended 30 June 2025, reporting total income of just Rs. 1.16 lakh and a net loss of Rs. (1.16) lakh, continuing the trend of operational losses (full-year FY25 loss was Rs. 5.45 lakh). The statutory auditor, PAMS & Associates, issued a qualified conclusion, flagging that the company's unit at Silvassa has no business activity, its Canara Bank and GSFC loans are classified as NPAs, and Canara Bank had initiated SARFAESI proceedings with outstanding liabilities of around Rs. 64.64 crore as of January 2023. The auditor also noted that bank accounts are inoperative with payments being made from the director's personal account, the physical existence of fixed assets cannot be verified, and inventory values are uncertain. The board also approved the 33rd AGM to be held on 30 September 2025 and appointed a new secretarial auditor for five years from FY26.
This is a serious red flag for shareholders - the company is essentially non-operational, deeply distressed with NPA loans, SARFAESI actions, and an auditor who cannot confirm the financial statements show a true and fair view. Shareholders should expect continued losses and significant risk to any remaining equity value given the scale of bank liabilities versus the company's near-zero revenue base.