Auditor''s report and Audited Financial Results for the Quarter/Year Ended March 31, 2026.
Awaiting price reaction for this filing.
Insilco Limited, which has been under voluntary liquidation since June 25, 2021, filed its audited financial results for the year ended March 31, 2026. The statutory auditor issued a qualified opinion due to two key issues: the company's operations were shut down after the UP Pollution Control Board rejected its environmental clearance, and there are ongoing labour disputes with 36 ex-employees claiming their VRS terminations were illegal. The auditor noted that financial statements were NOT prepared on a going concern basis as the company is in liquidation. The company has disposed of all its Property, Plant and Equipment and holds no inventories. Cash losses were incurred during the year while the immediately preceding year had nil cash losses.
This filing signals a company in terminal decline under liquidation proceedings. Shareholders face significant uncertainty as the liquidator settles liabilities and the outcome of labour disputes remains unresolved. The qualified audit opinion and non-going concern basis indicate material uncertainties that could affect final payoff to equity holders.