California Software Company Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
CALSOFT · price
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California Software Company Limited has reported audited financial results for FY2026 with a turnover of Rs. 1965.76 Lakhs and net profit of Rs. 1062.63 Lakhs (EPS Rs. 1.72). However, the Statutory Auditors (K. Gopal Rao & Co.) have issued a QUALIFIED OPINION on both standalone and consolidated results. Key audit concerns include: (1) Trade receivables of Rs. 1088.21 Lakhs and other current financial assets of Rs. 18.41 Lakhs overdue for a long period with no provisions created, overstating profits; (2) Current Tax Asset of Rs. 380.02 Lakhs pending reconciliation with tax authorities; (3) Rs. 2000 Lakhs treated as advance for investment with insufficient audit evidence to prove recoverability. These qualifications are noted as 'reoccurs' - meaning similar issues existed in prior periods.
The qualified audit opinion raises red flags about asset quality and profit reliability. Unprovided overdue receivables of Rs. 1106.62 Lakhs (nearly 11% of total assets) could materially impact future earnings if provisions are required. Investors should monitor the company's collections and tax reconciliation closely.