Audited Financial Results for the year ended 31st march 2025 and Audit Report for the last quarter and financial year ended 31st March 2025
Awaiting price reaction for this filing.
Harig Crankshafts Limited announced its audited standalone financial results for FY25 on 29th May 2025. The statutory auditor, M.B. Gupta & Co., issued a qualified opinion on the results, citing three key concerns: the company has not filed income tax returns from AY 2012-13 to AY 2023-24, it failed to submit quarterly results with the stock exchange for FY24 and earlier periods as required under SEBI regulations, and it has not filed annual financial statements prior to FY22-23 with the Registrar of Companies. The auditor also drew emphasis of matter on the NCLT-approved resolution plan dated 17th April 2024 and on the classification of certain assets as held for sale. The auditor specifically referred to a 'net loss' for the period, indicating the company reported negative profitability for the year.
Multiple red flags here — the qualified audit opinion, the reference to a past NCLT resolution plan, and the net loss reported for FY25 suggest ongoing financial and compliance distress. Shareholders should expect heightened regulatory scrutiny, potential penalties for non-compliance, and uncertainty around the company's recovery trajectory. This is a negative signal for the stock.