Disclosure
Awaiting price reaction for this filing.
Fraser and Company Limited reported audited financial results for FY2026 with total income of Rs 3.8 million and a net loss of Rs 6.15 million, significantly improved from the previous year's loss of Rs 15.77 million. The company received a qualified audit opinion due to three key issues: trade receivables of Rs 13.39 million outstanding over 12 months without balance confirmations, trade payables of Rs 43.53 million unresolved for a long period, and advances of Rs 28.68 million given to suppliers prior to December 2022 without supporting documentation. Five creditors have filed recovery suits against the company covering Rs 26.90 million. SEBI also imposed a penalty of Rs 21 lakh each on the company and promoters for delayed/inaccurate disclosures. The company settled NCLT receivables of Rs 82.70 million by receiving Rs 40 million cash and 4 residential flats worth Rs 39.74 million.
The qualified audit opinion and multiple unreconciled balances raise concerns about financial transparency. The company continues to operate at a loss with negative other equity of Rs 33.69 million. Shareholders should be cautious given the ongoing legal disputes, regulatory penalties, and exchange suspension from CSE.