Results with Impact of Audit qualification for the year ended March 2024
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Awaiting price reaction for this filing.
BMB Music & Magnetics, a small film production company, reported FY24 revenue of Rs. 11.50 lakh, down from Rs. 14.00 lakh in FY23, a decline of about 18%. Profit after tax stood at Rs. 5.18 lakh (vs Rs. 5.31 lakh in FY23), with EPS of Rs. 0.09. The company continues to carry accumulated losses of Rs. 368.31 lakh in its books, leaving other equity deeply negative even though share capital of Rs. 605.97 lakh keeps overall net worth positive. The auditor issued an unqualified opinion on the financials but flagged a material uncertainty in the CARO report about the company's ability to meet its liabilities as and when they fall due — a going concern warning. Operating cash flow remained negative at Rs. (126.27) lakh, though improved from Rs. (186.52) lakh last year. The company also has Rs. 37.94 lakh in old outstanding TDS dues and does not have an internal audit system in place.
This is a mixed-to-negative filing for shareholders. While the audit opinion is clean and the company is marginally profitable on paper, the auditor's explicit going-concern warning, persistent negative operating cash flows, declining revenue, and negative other equity signal financial fragility. The stock is likely to remain thinly traded and may face negative sentiment despite the small absolute profit.