Godha Cabcon & Insulation Limited has submitted to the Exchange, the financial results for the period ended May 22, 2025.
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Godha Cabcon & Insulation Limited submitted audited results for Q4 and FY ended March 31, 2025. Total revenue jumped sharply to Rs 17,948.89 lakh (vs Rs 1,800.26 lakh last year) and profit after tax surged to Rs 717.14 lakh (vs Rs 50.85 lakh). However, the statutory auditor (Parin Patwari & Co.) issued a Disclaimer of Opinion — meaning it could not gather enough evidence to form any view on the financial results. The auditor flagged multiple serious issues: unsecured loans of Rs 7,093.50 lakh without agreements, pending GST reconciliation of Rs 220.05 lakh, unconfirmed supplier balances of Rs 835.26 lakh, an unconfirmed loan of Rs 500 lakh, no fixed assets register, and no physical inventory storage. The auditor resigned on May 12, 2025 (mid-year), citing closure of its proprietorship firm. A new CFO (Tathagata Sarkar) and a Non-Executive Director (Hardik Kumar) were appointed, and the company has pending SEBI approval for allotment of 7.2 crore equity shares already shown under share capital.
Despite the strong topline and profit numbers, the auditor's refusal to certify the accounts and management's contradictory claim of an 'unmodified opinion' are major red flags. Shareholders should treat these results as unaudited/uncertain — the stock carries significant risk from pending SEBI approval on share capital, weak internal controls, and a sudden auditor exit.