Revised outcome for audited financial results for 31st March, 2026

Going-concern doubtQualified audit opinionNet loss reportedNegative operating cash flowRelated-party transactionsResults View source PDF Explain this filing

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₹2.21

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%+6.2% vs market

Trading & Distributors peers, median of 131sector+0.0%+6.3% vs sector

On the reaction day the stock moved 6.2 pts more than Nifty Microcap 250 and 6.3 pts more than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+6.3+0.1+6.2+0.0+6.3

Next day

+5.9+1.7+4.2+0.4+5.5

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UpDownMarket · Nifty Microcap 250Sector · Trading & Distributors peers, median of 131Pending

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AI summary

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.

Likely market impact

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.