Atcom Technologies Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
Awaiting price reaction for this filing.
Atcom Technologies submitted its audited financial results for FY25, but the auditor (Gada Chheda & Co. LLP) issued a Disclaimer of Opinion on the standalone results and a Qualified Opinion on the consolidated results. Key red flags include: all bank loans classified as Non-Performing Assets (NPAs), accumulated losses with net worth completely eroded, the Holding Company is under liquidation in the High Court, and a scheme of rearrangement has been filed with NCLT. The company has defaulted on repayments to multiple lenders — State Bank of Patiala, IFCI, SBI, Dena Bank, UTI Bank, IDBI, SICOM, and Non-Convertible Debenture holders — totaling roughly ₹97.59 crores, many of which have been assigned to asset reconstruction companies. Several statutory disputes are also pending, including Income Tax, Central Excise interest/penalty (₹3.17 crores), and unpaid Customs Duty of ₹45.80 lakhs dating back to 2006-07. The company also operates only in a single NBFC segment and the auditor flagged absence of adequate internal financial controls.
This filing is highly negative for shareholders — the company is in severe financial distress with going-concern uncertainty, active liquidation proceedings, and massive loan defaults. Expect heightened stock price risk, potential delisting pressure, and significant dilution risk if the NCLT restructuring scheme is approved.