Company hereby submits Declaration on Impact of Audit Report along with Financial Results for FY 2020-2021
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Bansisons Tea Industries is responding to a BSE query about why it did not file the mandatory Declaration on Impact of Audit Qualifications when it submitted its FY 2020-21 results in September 2021. The company explains that statutory auditors R.K. Bihani & Associates issued a clean, unmodified audit opinion with no qualifications, adverse remarks, or disclaimers, so the declaration requirement under SEBI LODR Regulation 33(3)(d) was not applicable. The omission was described as inadvertent and the company has now resubmitted the results with this clarification. The audited numbers show revenue from operations of Rs 15 lakh (flat year-on-year), total income of Rs 20.29 lakh, and a profit after tax of Rs 7.89 lakh, a sharp turnaround from a loss of Rs 1.79 lakh in FY 2019-20. Reserves and surplus remain negative at Rs (12.61 lakh), indicating accumulated losses, and operating cash flow was a modest Rs 1.26 lakh.
This is essentially a paperwork/compliance clearance filing rather than a fundamental change, so expect little stock-price reaction. The clean audit is neutral-to-mildly positive, but shareholders should note the company is very small-scale, still has negative reserves, and depends on non-operating income for profitability.