Revised auditor report filed; financial results unchanged for FY26
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Company submitted revised auditor report to BSE for FY ending March 31, 2026. Financial results unchanged; revision only fixed an inadvertent omission. Audit flags two issues: Oasis Ceramics IBC acquisition failed with 3.21 crore bank guarantee invoked as exceptional loss, and 37.47 crore of 39.97 crore rights issue proceeds were diverted to stock market investments, later ratified by shareholders.
Exceptional loss from failed acquisition and major diversion of rights issue proceeds warrant investor scrutiny.