Clarification with respect to Standalone Financial Results for the Quarter and Year ended March 31, 2025.
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Aviva Industries submitted a revised Statement of Impact of Audit Qualifications to BSE after the exchange flagged that the original filing was not in the prescribed SEBI tabular PDF format. The auditor (P Singhvi & Associates) issued a Qualified Opinion because the company did not have a whole-time Company Secretary during the year, which is a non-compliance under the Companies Act. An Emphasis of Matter was also raised, noting that trading in the company's shares has been suspended due to non-payment of listing fees. Management confirmed that a full-time Company Secretary would join from June 2, 2025. Financially, FY25 revenue collapsed to Rs 3.19 lakhs from Rs 57.57 lakhs in FY24, and the net loss widened to Rs 8.65 lakhs (from Rs 3.45 lakhs). Cash flow from operations turned negative at Rs -0.81 lakh versus Rs +1.04 lakh last year.
This is a procedural rectification, but it surfaces serious concerns for shareholders: a qualified audit opinion, share trading suspension over unpaid listing fees, a sharp revenue decline, widening losses, and negative operating cash flow — all signs of a small, struggling company with governance and liquidity issues.