Audited Financials with limited review report
Awaiting price reaction for this filing.
The company (now renamed from Naturo Indiabull Limited to Naturo Agrotech India Limited) reported a catastrophic year. Revenue from operations collapsed from Rs. 4,188.41 lakhs to just Rs. 205.17 lakhs — a drop of about 95%. The company swung from a profit of Rs. 99.31 lakhs last year to a loss of Rs. 129.71 lakhs this year, with EPS turning negative at Rs. (0.69). The auditor (H. Rajen & Co.) issued a qualified conclusion, flagging loans and advances of Rs. 5,527 lakhs given in violation of Sections 185 and 186 of the Companies Act, and unapproved borrowings of Rs. 386 lakhs. Cash and bank balances fell to just Rs. 9.29 lakhs. Reserves also declined from Rs. 1,949 lakhs to Rs. 1,820 lakhs.
This is a serious red flag for shareholders. Beyond the steep loss and revenue collapse, the qualified auditor opinion and multiple governance/compliance violations (Sections 185, 186, 73-76, 188) signal weak internal controls and regulatory non-compliance, raising credibility and going-concern concerns that could weigh heavily on the stock.