Disclosure under Regulation 30 for modified opinion.
Awaiting price reaction for this filing.
Fraser and Company Limited reported its unaudited results for the quarter and half year ended September 30, 2025, showing zero net sales income (down from Rs. 2.19 million in Q2 FY25). The company posted a net loss of Rs. 1.00 million for the quarter and Rs. 1.91 million for the half year, with EPS of Rs. (0.12) and Rs. (0.23) respectively. Operating cash flow improved sharply to Rs. 37.65 million, driven by recovery of Rs. 40 million in cash from old receivables via an NCLT settlement (an additional Rs. 40 million was received as four residential flats, and Rs. 2.62 million was booked as a loss). The statutory auditor issued a qualified opinion flagging material uncertainty about the company's ability to continue as a going concern, citing accumulated losses, no sales, no orders in hand, inability to repay liabilities, and ongoing litigations including three recovery suits totaling Rs. 24.47 million. The board also appointed Ms. Rekha Naraniwal Rani as Additional Independent Director.
This is a significant red flag for shareholders: the auditor has explicitly raised a going concern doubt, the company has no operating revenue, persistent losses, and unresolved trade receivables and lawsuits. The new management is seeking shareholder approval to change the main object clause to pursue new business plans in an attempt to revive the company. Investors should treat this stock as high-risk given the going concern qualification and suspended trading status on Calcutta Stock Exchange.