With reference to the captioned subject, and Intimation of Outcome of Board Meeting dated 30th May, 2026 pursuant to Regulation 30 and other applicable provisions of the SEBI Listing Regulations, ....
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Gujjubhai Industries Ltd (formerly Sumuka Agro Industries Ltd) reported audited standalone financial results for FY ended March 2026. Total income grew to Rs 12,707.22 Lakhs from Rs 9,769.10 Lakhs in FY25 (restated). Profit after tax stood at Rs 517.85 Lakhs compared to Rs 467.85 Lakhs (restated) in FY25. The company completed a merger with Gujjubhai Foods Private Limited (appointed date April 1, 2023), with NCLT approval received in February 2026. The auditors issued an Unmodified Opinion but raised concerns: assets were recorded at book values instead of fair values due to the merger scheme (departure from Ind AS 103), Rs 55.55 Lakhs in loans to struck-off companies lack documentation and provisioning, and Rs 3.45 Lakhs in investments lack supporting ownership documents. The financial statements for FY24 and FY25 have been restated to reflect the merger. Operating cash flow was negative at Rs -48.87 Lakhs.
While the company shows revenue growth and PAT improvement, auditors flagged multiple accounting standard departures regarding merger treatment and recoverability of significant loans. The negative operating cash flow and lack of provisioning for irrecoverable amounts could concern investors about asset quality and financial health.