Submission of Integrated Financial Results for the Half year and Year ended on 31st March, 2026
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Evoq Remedies Ltd reported a net loss of Rs. 23.99 lakhs for FY2026 compared to a profit of Rs. 171.26 lakhs in FY2025, a dramatic turnaround from profit to loss. Revenue grew 117% year-on-year to Rs. 2,550.68 lakhs, but expenses also increased significantly to Rs. 2,700.79 lakhs. The auditor issued a Qualified Opinion with Material Uncertainty Related to Going Concern, citing cash losses, curtailed operations, and minimal revival prospects. Key concerns include: related party loans of Rs. 670.26 lakhs given without proper approvals, unconfirmed debtor balances of Rs. 385.46 lakhs, unconfirmed supplier advances of Rs. 1,251.18 lakhs, unpaid income tax of Rs. 61.63 lakhs, unpaid TDS of Rs. 38.76 lakhs, and an active SEBI investigation. Contingent liabilities include a GST demand of Rs. 655.03 lakhs and income tax demand of Rs. 87.92 lakhs, both under litigation.
This is a highly negative development for shareholders. The company has gone from profit to loss, faces severe liquidity stress, is under SEBI investigation, and auditors have raised substantial doubt about its ability to continue as a going concern. The stock carries extreme risk given the governance failures, unqualified related party transactions, and regulatory issues.