Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting held today i.e. ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Evoq Remedies reported audited revenue of Rs 2,675.69 lakhs for FY2026 ending March 31, 2026, compared to Rs 1,417.13 lakhs in FY2025. However, the company swung to a net loss of Rs 25.10 lakhs from a profit of Rs 12.82 lakhs previously. The statutory auditor issued a Qualified Opinion with a Material Uncertainty Related to Going Concern, flagging multiple serious issues: (A) Related party loans of Rs 670.26 lakhs given without Audit Committee approval, violating Sections 177, 185, 188 and 189 of the Companies Act; (B) Unconfirmed debtor balances of Rs 385.46 lakhs; (C) Unconfirmed advances to suppliers of Rs 1,251.18 lakhs; (D) Unpaid income tax of Rs 61.63 lakhs; (E) Unpaid TDS of Rs 38.76 lakhs. The auditor also highlighted that the company has incurred cash losses, operations are materially curtailed, and there is an active SEBI investigation into the company's financial statements and utilisation of Rs 9.21 crore raised via a Preferential Issue. Additionally, a GST demand of Rs 655.03 lakhs and income tax demand of Rs 187.92 lakhs are under litigation. The board also approved appointment of M/s. Jay Pandya & Associates as Secretarial Auditor for FY 2025-26.
This is a highly negative development. The Qualified Opinion with Going Concern uncertainty, SEBI investigation, multiple compliance violations, unpaid statutory dues, and unconfirmed large balances represent serious financial and governance risks. Shareholders should be extremely cautious as the company's ability to continue as a going concern is in doubt, and the outcome of the SEBI investigation could result in restatement of financials, fund recovery directions, or financial penalties.