Financial Results for the Quarter and Year ended on 31st March, 2026
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Chandrima Mercantiles Ltd reported total income of Rs 7,778.92 lakhs for FY2026, a significant jump from Rs 2,919.38 lakhs in the prior year. Profit after tax stood at Rs 598.86 lakhs compared to Rs 72.94 lakhs in FY2025. However, the auditors issued a QUALIFIED OPINION citing inability to verify inventories worth Rs 2,500.10 lakhs, lack of balance confirmations for receivables/payables/loans, an outstanding Income Tax demand of Rs 49 lakhs, and non-maintenance of edit log facility. The company also purchased diamonds and gold not part of its regular agriculture commodities business. Note 7 raises a significant going concern flag: accumulated losses have exceeded paid-up capital and reserves, current liabilities exceed current assets, and the company incurred net loss in Q4 despite annual profitability.
The qualified opinion and going concern note signal material uncertainty for investors. The company shows revenue and profit growth on paper, but negative operating cashflow of Rs 5,750.95 lakhs and inability to verify major inventory balances raise serious red flags about financial reliability.