FY26 Results Revised: Auditor Issues Qualified Opinion

Qualified OpinionRevenue DeclinePat NegativeNegative Operating CashflowRelated Party TransactionsResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used-0.6%-0.3% vs market

Other Textile Products peers, median of 179sector-0.5%-0.4% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Microcap 250 and 0.4 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Garware Marine revised its FY26 audited results. Revenue fell to Rs. 108.36L from Rs. 120.18L, and net profit dropped to Rs. 14.72L from Rs. 43.14L. Q4 swung to a Rs. 4.84L loss. Auditor issued a qualified opinion as the company did not set aside Rs. 355.15L expected credit loss on over-3-year-old trade receivables required under Ind AS 109. Operating cash flow turned negative at Rs. 5.66L.

Likely market impact

Auditor flagged Rs. 355L unrecovered old receivables - a key credit and earnings quality risk for shareholders.