STATEMENT OF IMPACT OF AUDIT QUALIFICATION FOR AUDIT REPORT WITHMODIFIED OPINION FOR YEAR ENDED 31/03/2025 - AS PER LETTTER ATTACHED.
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Ghushine Fintrrade Ocean Ltd filed its audited financial results for the year ended March 31, 2025, along with the prescribed statement on audit qualifications. Despite the filing's headline referring to a 'modified opinion' template, the actual disclosure clearly states that the auditor issued an unmodified (clean) report with no qualifications of any kind. For the year, the company reported total income of Rs. 474.54 lakhs against total expenditure of Rs. 474.29 lakhs, resulting in a marginal net profit of just Rs. 0.24 lakhs and an EPS of Rs. 0.0069. Net worth stood at Rs. 508.25 lakhs with total assets of Rs. 541.87 lakhs and liabilities of only Rs. 33.62 lakhs, indicating a near-debt-free balance sheet. Results were approved by the board on May 12, 2025.
While a clean audit opinion is reassuring, the razor-thin profit margin (just Rs. 0.24 lakhs on Rs. 474+ lakhs of revenue) signals near-breakeven operations and raises questions about earnings sustainability. Low liabilities and healthy net worth provide some balance-sheet comfort, but investors should watch revenue growth and margin trends closely.