GSFC files FY26 Annual Report; net worth fully eroded, loss widens

Going ConcernQualified OpinionPat NegativeRevenue DeclineResults View source PDF

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

GSFC filed its 66th Annual Report for FY26. Total income fell to Rs 1,644 lakh from Rs 1,724 lakh. Loss widened to Rs 12,728 lakh from Rs 12,534 lakh. Accumulated losses stand at Rs 3,55,244 lakh. Auditors gave a qualified opinion noting net worth is fully eroded and the Corporation defaulted on repayments. Main lending operations remain suspended since FY02 and only recovery of dues continues. Pankaj R Shah and Associates retire after a 4-year term; J H Mehta and Co is proposed as new statutory auditor.

Likely market impact

Net worth fully eroded with widening losses and going concern flag from auditors. No near-term revival of core business expected.