OUTCOME OF BOARD MEETING, DISCLOSURE UNDER REGULATION 30 AND SUBMISSION OF AUDITED FINANCIAL RESULTS OF THE COMPANY FOR THE QUARTER & YEAR ENDED MARCH 31, 2026.
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Gujarat Winding Systems Ltd reported audited financial results for Q4 and FY ended March 31, 2026. The company experienced a severe collapse in revenue, dropping from ₹2,980 lakhs to just ₹39 lakhs for the full year, representing a decline of over 98%. The company posted a net loss of ₹3.19 lakhs for FY26 compared to a profit of ₹5.83 lakhs in FY25. Other equity turned negative at -₹143.26 lakhs (negative reserves), and total assets declined from ₹429.86 lakhs to ₹344.13 lakhs. The statutory auditors Nirav S. Shah & Co. issued an unmodified (clean) opinion, though they noted the company's accounting software did not have audit trail feature enabled during some periods, which is a compliance requirement. The auditors also flagged pending income tax demands totaling approximately ₹59.35 lakhs across AY 1997-98, 2019-20, and 2020-21. There was a change in statutory auditors during the year from K.M. Chauhan & Associates to Nirav S. Shah & Associates.
The stock may come under pressure due to the dramatic 98%+ revenue decline and negative book value. Shareholders should monitor the company's operational continuity as the sharp drop in business raises questions about the going concern assumption despite the clean audit opinion.