Audited Financial Results for the Quater and Year Ended 31.03.2026
Awaiting price reaction for this filing.
Advance Syntex Ltd has reported an Adverse Opinion from its statutory auditor for FY 2026. The company incurred a net loss of Rs. 60.34 lakhs for the year (vs Rs. 1,841.56 lakhs loss in prior year). Revenue from operations is zero as business activities have been closed. The balance sheet shows negative net worth of Rs. 1,302.32 lakhs (equity is deeply negative at Rs. 2,412.03 lakhs Other Equity against Rs. 1,109.71 lakhs share capital). Lender banks have classified the company as Non-Performing Asset and sold all fixed assets under SARFAESI Act, reducing the fixed assets block to zero. The auditor stated that 'Going Concern' assumption is not sustainable and the financial statements contain material misstatements due to incomplete information, unprovided interest on NPA loans, and inadequate provisioning for old trade receivables.
This is an extremely negative development for shareholders. The company has essentially ceased operations, carries negative net worth, and the auditor has issued an Adverse Opinion questioning the very reliability of the financial statements. The stock is likely to face severe investor concern given the going concern doubts and zero revenue.