Audited Financial Results for the Quater and Year Ended 31.03.2026
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Advance Syntex Ltd reported zero revenue from operations for FY 2026 with a net loss of Rs. 60.34 lakhs, compared to a massive loss of Rs. 1,841.56 lakhs in the previous year. The company has negative net worth of Rs. 1,302.32 lakhs and the auditor issued an Adverse Opinion citing that the Going Concern assumption is no longer sustainable as business activities are closed. Banks have classified the company as a Non-Performing Asset (NPA), all fixed assets have been sold under SARFAESI action, and the company has no employees. The auditor found multiple material misstatements including understated finance costs, unprovided interest on NPA loans, and unreconciled trade receivables requiring impairment provisions.
This is an extremely distressed company with an adverse audit opinion, zero revenue, negative net worth, and NPA status. Shareholders face potential total loss of investment as the company has ceased operations and auditors question the reliability of financial statements.