Submission of Audited financials results along with audit report thereon and declaration in respect of modified opinion on audit report for the quarter and year ended on 31st March, 2026
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Hemo Organic Limited reported a significant deterioration in its financial performance for FY 2025-26. Total income declined sharply to Rs. 93.10 lakhs from Rs. 248.42 lakhs in the previous year, representing a revenue decline of approximately 62%. The company posted a net loss of Rs. 77.81 lakhs compared to a profit of Rs. 16.39 lakhs in FY 2024-25. The statutory auditor, MAAK & Associates, issued a Qualified Opinion citing inability to obtain balance confirmations for trade receivables, payables, and loans/advances—a recurring qualification since FY 2023-24. Additionally, Deferred Tax Assets of Rs. 27.93 lakhs were reversed due to continued losses and reassessment of future taxable profits. The company issued 34 lakh convertible warrants to non-promoters at Rs. 12.50 each, with Rs. 106.25 lakhs received upfront (25%).
The qualified audit opinion, recurring audit issues, significant revenue decline, and negative PAT signal financial distress. The company's accumulated losses have exceeded its paid-up capital, and current liabilities exceed current assets, raising substantial going concern doubts for shareholders.