Audited Financial Results for the Quarter and Financial Year ended 31/03/2026
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City Online Services Ltd reported total revenue of Rs. 812.47 Lakhs for FY 2025-26, a marginal increase from Rs. 779.50 Lakhs in the previous year. However, the company posted a net loss of Rs. 47.21 Lakhs compared to a profit of Rs. 3.51 Lakhs in FY 2024-25. The auditors from Komandoor & Co LLP issued a Qualified Opinion citing multiple concerns. Key issues include: complete erosion of net worth with negative net worth of Rs. 54.72 Lakhs as of March 31, 2026; current liabilities exceeding current assets indicating going concern risk; revenue under-reported by Rs. 42.06 Lakhs due to discrepancies between books and GST returns; unbilled revenue of Rs. 18.88 Lakhs; and related party loans of Rs. 15.51 Lakhs granted without proper shareholder approval as required under the Companies Act. The company also failed to recognize Expected Credit Loss on financial assets as mandated by Ind AS 109.
This is a high-risk filing with severe red flags. The negative net worth, qualified audit opinion, and going concern doubts make this stock extremely risky for retail investors. The stock is likely to face significant selling pressure and potential delisting risks.