Audited Financial Result for the quarter and year ended 31-03-2026
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Evexia Lifecare Ltd (formerly Kavit Industries Ltd) reported consolidated revenue of Rs. 11,027.55 Lakhs and net profit of Rs. 162.13 Lakhs for FY26. The auditor issued a qualified opinion due to: (1) Loans receivables of Rs. 735.13 Lakhs and trade receivables of Rs. 2,943.89 Lakhs where the company failed to assess expected credit loss as per Ind AS 109, raising doubts about recoverability; (2) investments of Rs. 87.39 Lakhs in unquoted equity shares without fair valuation; and (3) subsidiary Kavit Edible Oil Limited, suspended since March 2015, with negative net worth and Rs. 127.70 Lakhs exposure, raising substantial doubt about going concern. The company also extended its FCCB conversion/redemption deadline from March 2026 to February 2028. Operating cash flow was significantly negative at Rs. 2,348.34 Lakhs.
The qualified audit opinion with going concern doubts and negative operating cash flows signal serious financial health concerns. The unaudited receivables and investments with valuation uncertainties could lead to significant write-downs in future periods, making this a high-risk investment for shareholders.