Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose a copy of the Unaudited Financial Results of the Company for the Quarter ....
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The company reported its Q1 FY26 results with total income of Rs 37.44 lakhs, up sharply from Rs 11.10 lakhs in Q1 FY25. Net profit came in at Rs 10.85 lakhs (EPS Rs 0.61), compared to a small loss of Rs 0.61 lakhs in the year-ago quarter, marking a swing to profitability. The full-year FY25 result, however, shows a net loss of Rs 341.66 lakhs. The board has flagged a serious going concern issue: the company's net worth is fully eroded and its current liabilities exceed current assets. The statutory auditor (Singhi & Co.) has issued an Emphasis of Matter drawing attention to this going concern uncertainty, though their review conclusion remains unmodified. The auditor's report also notes that prior-year comparatives were reviewed by a predecessor auditor, indicating a change in auditors.
While the quarterly numbers look healthy on the surface, shareholders should be cautious — the fully eroded net worth and current liabilities exceeding current assets signal deep financial weakness, and the company's survival depends on monetising its Goa land assets. The auditor's going concern emphasis is a significant red flag for retail investors despite the current-quarter profit.