Declaration regarding Adverse Opinion on Audit Report For the Year Ended on 31st March 2026 pursuant to regulation 33 of SEBI (LODR) Reg 2015
Awaiting price reaction for this filing.
Shri Niwas Leasing and Finance Ltd has disclosed that its statutory auditor VRSK & Associates has issued an Adverse Opinion on the standalone audited financial results for FY 2025-26 ended March 31, 2026. The auditor cited two major concerns: the financial statements do not comply with Indian Accounting Standards (Ind AS) as required under Section 133 of the Companies Act, and they may not give a true and fair view. The root cause is the company's failure to provide for interest on loans, which directly impacts revenue recognition and asset quality. This is the most serious level of auditor qualification, indicating fundamental issues with the reliability of the financial statements.
An Adverse Opinion is the strongest auditor warning and signals material misstatements in the financial statements. This raises red flags about the company's accounting practices, financial health, and regulatory compliance. Investors should exercise extreme caution as the stock may face significant negative sentiment and potential regulatory scrutiny.