Q1 FY27 results: auditor flags qualified opinion on subsidiary exposure
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Board approved Q1 FY27 unaudited results. Standalone revenue rose to Rs 2,686.64 lakhs (from Rs 2,495.73 lakhs YoY); PAT at Rs 529.98 lakhs (from Rs 454.89 lakhs). Auditor Singhi & Co issued a qualified conclusion on both standalone and consolidated results, flagging non-recognition of impairment in subsidiary GJS Hotels. Had impairment been booked, standalone PAT would turn negative at Rs (-)814.27 lakhs. Emphasis of matter on Rs 25,294.98 lakhs exposure to Novak Hotels for acquiring Hyatt Regency Mumbai, with competing claims and pending legal formalities. Tax demands of about Rs 15,598 lakhs under appeal.
Qualified audit opinion and emphasis of matter highlight significant uncertainty around subsidiary exposures, though reported PAT stays positive.