Outcome of Board Meeting - Results
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Garnet International Ltd reported standalone net profit of Rs. 330.87 lakhs for FY2026, a significant jump from Rs. 9.73 lakhs in FY2025. On consolidated basis, the company posted profit of Rs. 474.75 lakhs compared to a loss of Rs. 153.46 lakhs in the previous year. The auditors issued a qualified opinion on both standalone and consolidated results citing non-compliance with Section 186 of the Companies Act - the company failed to make interest provisions on inter-corporate loans of Rs. 966.80 lakhs (year-end balance Rs. 1,112.80 lakhs) and interest-free loans to subsidiary. Additionally, the company carries regulatory classification issues as a Type I-NBFC. Emphasis of matter was raised on Rs. 228.71 lakhs in trade receivables from two parties under NCLT with no provisioning. Cash flow from operations remained negative.
The qualified audit opinion and regulatory compliance issues raise significant governance concerns despite improved profitability. Negative operating cash flows and unreconciled balances add to investor risk. The stock may face selling pressure due to auditor qualification.