Q1 results approved; no operations, auditor flags going concern uncertainty
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Foundry Fuel Products approved Q1 FY27 (Apr-Jun 2026) results. The company has zero revenue from operations and reported a loss of Rs 5.12 lakhs versus Rs 4.08 lakhs loss in the same quarter last year. The company has no business activities and is looking for a new project. Net worth is negative and current liabilities exceed current assets. The auditor highlighted material uncertainty on going concern and added an emphasis of matter note. The holding company has committed to fund any shortfalls. AGM fixed for 30 September 2026.
No business operations, negative net worth, and ongoing losses. Auditor flags going concern risk. Holding company support is the only lifeline. High risk for shareholders.