outcome of board meeting pursuant to regulation 33
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garbi Finvest Ltd reported a net loss of Rs. 357.98 lakhs for FY26, a significant deterioration from profit of Rs. 138.20 lakhs in FY25. Revenue from operations grew modestly to Rs. 255.14 lakhs from Rs. 235.08 lakhs. The company's statutory auditors issued a qualified review report citing non-compliance with Ind AS 109 (Expected Credit Loss model) and failure to implement Internal Financial Controls as mandated by the Companies Act 2013. Additionally, the auditors noted the company did not account for interest on all loan accounts, raising concerns about completeness and accuracy of recorded revenue. Total comprehensive income for the year was negative at Rs. 639.83 lakhs.
The company swung from profit to significant loss, and auditor qualifications regarding accounting standards compliance and internal controls create material uncertainty about financial reporting reliability. Shareholders should exercise caution given the qualified audit opinion and governance concerns.