The Exchange had sought clarification from Godha Cabcon & Insulation Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed by SEBI The response of the Company is enclosed.
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Godha Cabcon & Insulation Limited has responded to a clarification sought by NSE regarding its financial results for the quarter ended March 31, 2025. The Exchange pointed out two issues: the results were not in SEBI's prescribed format, and the Statement on Impact of Audit Qualifications (SOI) was not signed by the Audit Committee Chairman. The company clarified that the results were approved and signed by Mr. Tathagata Sarkar, Executive Director and CFO, under a board resolution dated May 22, 2025, and attached a signed copy of the SOI from the Audit Committee Chairman. The filing also reveals that the FY25 audit carries a 'Disclaimer of Opinion' with multiple repetitive qualifications, including Rs. 7,093.50 lakhs of unsecured loans with no interest charged, Rs. 6,644.84 lakhs in trade payables without MSME classification, missing Fixed Assets Register, and unverified sales and purchase documentation.
While the company has technically addressed the procedural compliance issue, the underlying FY25 results carry a severe Disclaimer of Opinion from the auditors, which is a major red flag for shareholders. The multiple repetitive audit qualifications around unverified loans, receivables, and missing records raise serious concerns about the reliability of reported financials and internal controls, which could weigh on investor confidence and the stock price.