Outcome of Board Meeting held on 30th may, 2026 for approval of Audited Financial results for year ended 31/03/2026
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Ganon Products Ltd reported audited standalone financial results for FY 2025-26 with Total Revenue of Rs. 712.33 Lakhs, a significant decline from Rs. 1,894.37 Lakhs in FY 2024-25 (62% drop). Despite this, Profit After Tax improved to Rs. 52.38 Lakhs from Rs. 4.35 Lakhs, while EPS increased to Rs. 0.56 from Rs. 0.05. The company's operating cash flow was deeply negative at Rs. 831.55 Lakhs, raising concerns about liquidity. The auditors issued an unmodified opinion but included an Emphasis of Matter highlighting several concerns: trade receivables of Rs. 79.47 Lakhs outstanding over 6 months, TDS default/delay of Rs. 11.52 Lakhs, advance for land of Rs. 120 Lakhs, unsecured loans of Rs. 933 Lakhs, and concentration risk in loans and advances. Borrowings increased to Rs. 1,099.75 Lakhs from nil.
The sharp revenue decline and negative operating cash flow are serious concerns for shareholders. While PAT improved, it was from a very low base. The auditor's Emphasis of Matter flags regarding receivables recoverability, TDS compliance, and loan concentration suggest potential financial irregularities that warrant caution.