Declaration regarding statement on impact of audit qualification on audit report for the year ended 31st march 2026
Awaiting price reaction for this filing.
Alstone Textiles has submitted its statement on the impact of audit qualifications for the financial year ending March 2026 under SEBI Listing Regulations. The auditor has issued an Adverse Opinion on the standalone financial statements, citing non-provision of interest on loans and non-compliance with Indian Accounting Standards (Ind AS) under Section 133 of the Companies Act, 2013. This is the first time such qualification has appeared. Financial figures show total income of ₹1,058.67 lakhs, net profit of ₹288.55 lakhs, total assets of ₹2,08,135.83 lakhs, and net worth of ₹65,878.84 lakhs, with no quantified adjustment from the qualification. Management has stated that the company will comply from next year and is working in a bona fide manner to meet all compliance requirements.
Negative signal for shareholders — an adverse audit opinion raises concerns about the reliability of the financials, particularly the non-provision of loan interest which could materially affect future reported profits and the company's debt position. Watch for compliance improvements in the next year's audit.