Considered, approved and taken on record Audited Financial results of the Company for the Quarter & year ended 31st March 2025 and taken note of the Audit Report of the Auditor for the ....
Awaiting price reaction for this filing.
AJEL Limited's board approved its audited financial results for Q4 and FY25 on July 10, 2025. The company reported a consolidated net loss of Rs. 165.95 lakhs for FY25, marginally better than the restated loss of Rs. 180.01 lakhs in FY24. Revenue was almost flat at Rs. 1,364.38 lakhs versus Rs. 1,363.19 lakhs last year, while total expenses remained high at Rs. 1,554 lakhs. Critically, the statutory auditor (GMK & Co LLP) issued a Disclaimer of Opinion on both standalone and consolidated results, flagging that a Rs. 5 crore Bank of Maharashtra loan was declared NPA, trade payables and receivables could not be verified, and long-term advances of Rs. 85.96 lakhs appear unrecoverable. There is a notable contradiction: the Managing Director separately declared the audit report carries an 'unmodified opinion,' but the actual audit report disclaims any opinion. Prior year figures were also restated due to an error in depreciating Land.
This is a serious red flag for shareholders. A Disclaimer of Opinion means the auditor could not verify key parts of the financials, and combined with an NPA loan, ongoing losses, negative operating cash flows, and unpaid statutory dues of Rs. 85.36 lakhs, the company faces material going-concern risks. Investors should expect heightened regulatory scrutiny and likely negative stock action; the contradiction between the MD's 'unmodified opinion' declaration and the auditor's disclaimer of opinion is itself a corporate governance concern.