Revised outcome for audited financial results for 31st March, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IGC Industries Ltd reported audited financial results for FY2025-26 with revenue of Rs 19,851 lakhs, a massive jump from Rs 198.51 lakhs in the previous year. However, the company posted a net loss of Rs 292.97 lakhs compared to a profit of Rs 1.70 lakhs in FY2024-25. The auditors issued a DISCLAIMER of opinion due to multiple critical issues: insufficient documentation for supplier advances, Rs 20 crore invested in CNX Corporation shares that were transferred to Shrynax Trading Private Limited, missing GST E-way bills, delivery challans, and inventory verification records. The auditor raised significant doubt about the company's ability to continue as a going concern as it incurred continuous losses in all four quarters of FY2025-26. The company also has substantial pending income tax disputes totaling over Rs 13 crore across multiple assessment years.
This is a highly concerning filing with auditors refusing to give an opinion due to lack of documentation and going concern doubts. Shareholders should be extremely cautious as the company lacks proper financial controls, has significant tax disputes, and the massive revenue increase has not translated to profitability.