Board of Directors has approved Audited Financials results for the Halh year and year ended on 31st March, 2026
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Evoq Remedies Ltd reported a net loss of Rs 25.10 lakhs for FY2026, a sharp reversal from a profit of Rs 175.26 lakhs in the previous year. Total income stood at Rs 2,675.69 lakhs. The auditor issued a Qualified Opinion with a Material Uncertainty Related to Going Concern, flagging severe operational and liquidity issues. The company incurred cash losses during H2 FY2026, with business operations significantly curtailed and revival prospects assessed as minimal. Key concerns include related party loans of Rs 670.26 lakhs extended without proper approvals, unconfirmed debtor balances of Rs 385.46 lakhs, unconfirmed supplier advances of Rs 1,251.18 lakhs, and unpaid statutory dues (TDS Rs 38.76 lakhs, income tax Rs 61.63 lakhs). The company also faces an active SEBI investigation and contingent liabilities of Rs 655.03 lakhs (GST) and Rs 187.92 lakhs (Income Tax).
The qualified opinion with going concern uncertainty signals extreme financial distress. Shareholders face significant risk as the company lacks a business revival plan, has unpaid statutory liabilities, and is under SEBI investigation. The stock carries high risk of value destruction.