Please find the attached Outcome of Board Meeting
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Asian Petroproducts & Exports Limited reported a turnaround from loss to profit for FY26, with net profit of Rs. 121.00 Lakhs compared to a loss of Rs. 117.66 Lakhs in FY25. Total income grew significantly by 64% to Rs. 6,915.72 Lakhs (FY25: Rs. 4,217.81 Lakhs), while EPS improved from Rs. -0.48 to Rs. 0.49. However, the statutory auditors issued a Qualified Opinion due to three compliance issues: non-compliance with TDS provisions under Income Tax Act, unreconciled differences between TDS balances and Form 26AS, and non-compliance with Ind AS 19 Employee Benefits standard. The company also appointed Sunil Kumar Mundra as Internal Auditor and re-appointed Jashwant Bhatt as Independent Director for a second 5-year term. Cash position declined to Rs. 671.31 Lakhs from Rs. 868.21 Lakhs, and the company continues to have negative reserves of Rs. 1,159.12 Lakhs.
The shift from loss to profit and strong revenue growth of 62% are positives, but the Qualified Opinion raises red flags about tax compliance and accounting standards. Negative equity reserves and negative operating cash flow of Rs. 142.55 Lakhs suggest the company still faces financial stress despite the turnaround.