Revised Financial Statement
DEEPINDS · price
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Deep Industries Limited filed a corrigendum to its audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, correcting a typographical error in note no 6. The company reported standalone revenue of Rs. 11,116.22 lakhs for FY2026 and net profit of Rs. 974.19 lakhs. A significant exceptional item of Rs. 2,082.85 lakhs was recorded due to write-off of trade receivables inherited from Kandla Energy & Chemicals Limited (KECL), which was amalgamated with the company. The amalgamation scheme was approved by NCLT with appointed date March 31, 2025, and became effective March 31, 2026. Comparative figures for previous periods have been restated to reflect this merger. The auditors issued an unqualified opinion with emphasis of matter on the amalgamation and trade receivable write-off but did not modify their opinion.
The restatement of prior period figures due to the KECL amalgamation affects year-over-year comparability. The large exceptional item write-off reflects a conservative balance sheet cleanup post-merger but impacts reported profits. Shareholders should note that adjusted PAT (excluding exceptional items) would be higher than reported.