Financial Results for quarter and year ended 31/03/2026
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Ganon Products Ltd reported FY2026 total revenue of Rs 1,894.37 lakh, a massive jump from Rs 712.33 lakh in FY2025. Profit before tax improved to Rs 70.73 lakh from Rs 5.85 lakh, with total comprehensive income of Rs 52.38 lakh (vs Rs 4.35 lakh). EPS rose to Rs 0.56 from Rs 0.05. However, the company faces serious liquidity concerns with negative operating cash flow of Rs 831.55 lakh for FY26. Finance costs doubled to Rs 136.06 lakh. The auditor issued an unmodified opinion but included six Emphasis of Matter paragraphs flagging: old trade receivables of Rs 79.47 lakh outstanding over 6 months with no provisions, delays in TDS payments, Rs 120 lakh land advance, Rs 933 lakh unsecured loans granted during year, loans/advances given to parties who defaulted and were renewed/extended, and Rs 1,481.66 lakh customer advances for material supply. Total assets grew to Rs 3,857.03 lakh with borrowings of Rs 1,099.75 lakh.
Strong revenue and profit growth masks serious operational red flags including negative operating cashflow, large unsecured loans to related parties, and regulatory compliance issues with TDS delays. The emphasis of matter paragraphs suggest governance and recovery risks that shareholders should monitor closely.