With reference to the above captioned subject, it is to inform you that following are the outcome of the Board Meeting held on 15th May, 2026 at 12:00 PM and concluded at 06:40 PM at the ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crystal Business System Limited (BSE: 540821, MSE: CRYSTAL) held its Board Meeting on 15th May 2026, which lasted over 6 hours. The Board approved the audited financial results for the quarter and year ended 31st March 2026. The company reported total income of Rs 914.44 Lacs and a net profit of Rs 11.67 Lacs with EPS of Rs 0.01. However, the auditor BAS & CO. LLP issued a Qualified Opinion due to non-compliance with the Employees' State Insurance Act, 1948, Employees' Provident Funds Act, 1952, and Payment of Gratuity Act, 1972. The company has failed to make required contributions and recognise employee benefit obligations under Ind AS 19. The financial impact is unascertainable due to lack of historical employee data. This is a repeated qualification from the prior year's audit.
The repeated qualified opinion raises red flags about regulatory compliance and corporate governance. The unquantified but material employee liability could mean undisclosed obligations. Shareholders should monitor for potential penalties and ensure management takes corrective action on statutory compliance.