Dear Sir/Madam, Kindly find enclosed herewith Audited Results for the Quarter and Year Ended March 31, 2026,
Awaiting price reaction for this filing.
Goenka Diamond & Jewels Ltd has reported audited standalone loss of Rs. 150.33 lakhs for FY2026 (vs loss of Rs. 183.26 lakhs in FY2025). Revenue from operations stood at Rs. 213.33 lakhs, up from Rs. 135.17 lakhs. The auditors (Ummed Jain & Co.) have issued a DISCLAIMER of opinion on both standalone and consolidated financial results due to multiple material uncertainties. The company is under Corporate Insolvency Resolution Process (CIRP) with IRP managing operations. Financial creditors have claimed Rs. 49,408.27 lakhs against book value of Rs. 17,730.38 lakhs, with Rs. 31,677.89 lakhs difference for interest not accounted for. NCLT had ordered liquidation but NCLAT stayed it pending appeal. Trade receivables of Rs. 69,768.84 lakhs remain unconfirmed with no ECL provision made. Banks have classified accounts as NPA, legal actions are ongoing including SARFAESI and DRT proceedings, and Income Tax Department has attached bank accounts.
This is an extremely negative development. The disclaimer of opinion, going concern doubts, ongoing CIRP proceedings, and massive unaccounted liabilities (Rs. 31,677.89 lakhs) indicate severe financial distress. Shareholders face extreme risk as the company's ability to continue as a going concern is in serious doubt. The stock is already trading at very low volumes due to its distressed status.