We hereby submit the revised results alongwith statement of impact of Audit Qualification for Standalone and consolidated financial results for March 31, 2025
DHARAN · price
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Dharan Infra-EPC Ltd (formerly KBC Global Ltd) has resubmitted its audited financial results for FY25 after an auditor review. Revenue from operations fell to ₹1,799.24 lakh from ₹2,061.20 lakh last year, and total income nearly halved to ₹2,003.73 lakh from ₹4,024.70 lakh. The company reported a net loss of ₹3,943.69 lakh for FY25, wider than the ₹3,707.55 lakh loss in FY24. The auditor, Sharp Aarth & Co LLP, issued a qualified opinion on both standalone and consolidated results, flagging FEMA violations related to FCCB fund deployment to African subsidiaries, non-filing of GST returns since Dec 2023, unpaid statutory dues (income tax, GST, TDS) for over a year, and the company holding only an estimated gratuity provision without an actuarial valuation. The auditor also raised material uncertainty about the company's ability to continue as a going concern, noting most construction sites are non-operational and the RBI compounding application remains unresolved.
This is a high-risk filing for shareholders — a qualified audit opinion combined with an explicit going-concern warning signals serious financial and operational stress. Investors should note potential additional liabilities from pending FEMA compounding, a corporate guarantee exposure on an NPA loan, and continued operational shutdowns, all of which could weigh negatively on the stock price and risk profile.