as per attchment
Awaiting price reaction for this filing.
The Board approved audited standalone financial results for Q4 and FY ended 31 March 2025. The company reported NIL income from operations for the full year and a net loss of Rs. 5.45 lakh (vs Rs. 5.16 lakh loss in FY24), with negative other equity of Rs. 898.63 lakh and negative shareholders' funds of Rs. 548.63 lakh. The Statutory Auditor (PAMS & Associates) issued an ADVERSE OPINION, stating that the financial statements do not give a true and fair view due to going concern doubts, Canara Bank classifying loans as NPAs, SARFAESI possession of the Silvassa manufacturing unit, and inability to verify inventory or PPE. The Board also appointed M/s. Abhilasha Chaudhary & Associates as Secretarial Auditor for FY26 and noted related party transactions (a loan of Rs. 1.60 lakh to a KMP). Note: the board resolution mentions an 'unmodified opinion' declaration, which contradicts the auditor's actual ADVERSE opinion.
Highly negative for shareholders - the adverse audit opinion, fully eroded net worth, going concern uncertainty, and SARFAESI actions by Canara Bank (with outstanding liabilities of ~Rs. 64.64 crore) signal severe financial distress with no active business operations. Shareholders face significant risk of total loss; the stock is essentially a non-operating shell with mounting legal exposure.