Outcome of the Board Meeting held today .i.e. May 29, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Everest Organics Limited reported audited financial results for Q4 and year ended March 31, 2026. Total income stood at Rs 19,615.11 Lakhs with Profit After Tax of Rs 804.68 Lakhs (EPS Rs 12.91). However, the statutory auditor M/s P.S.N. Ravishanker & Associates issued a QUALIFIED OPINION due to environmental compliance issues. The company has been operating at substantially enhanced production capacity without necessary approvals (Consent for Establishment and Consent for Operation) from Telangana State Pollution Control Board, following a revocation order dated February 4, 2022 and closure order from December 2020. The auditor flagged that this non-compliance could impact the going concern status of the company. Management stated they have applied for CFE and obtained Environmental Clearance Certificate. The Board also appointed Mr. Narra Venkata Ramana as Additional Director (Independent) and new Chairman, and reconstituted various board committees.
The qualified auditor opinion and going concern risk flagged by auditors are serious concerns for investors. After adjusting for audit qualifications, the company shows a net loss of Rs 324.26 Lakhs instead of profit, with negative EPS of Rs 12.91. Environmental regulatory non-compliance poses a material risk to operations if TSPCB issues a closure order.