Audited Financial Statement for the financial year ended 31st March 2026 along with audit report
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Coromandel Engineering Company reported revenue of Rs 4,308.84 lakhs for FY 2025-26, up 37.7% from Rs 3,128.89 lakhs in FY 2024-25. However, net profit declined sharply to Rs 16.88 lakhs from Rs 41.49 lakhs in the prior year. The auditor issued an Emphasis of Matter noting delays in statutory dues (GST, TDS, EPF, ESI) with TDS for February and March remaining unpaid as of reporting date. The company also has unpaid MSME dues of Rs 10.05 crore including interest. The balance sheet shows negative other equity of Rs 2,421.76 lakhs and negative operating cash flow of Rs 271.78 lakhs. The board meeting on May 25, 2026 also approved appointment of a new internal auditor, a new non-executive director (Dr. Swetha), and noted the resignation of Mr. Baskaran as director.
While revenue grew 37.7%, the company faces serious concerns with declining profits, negative shareholder equity of Rs 2,421.76 lakhs, unpaid MSME dues, and negative operating cash flow. The Emphasis of Matter on statutory compliance delays and negative other equity raise going concern doubts for shareholders.