Q1 FY27 results, Rs 50 cr related-party LLP investment; auditor flags going concern
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India Homes Q1 FY27: Total income Rs 25.74 cr vs Rs 13.46 cr YoY. Net profit Rs 3.44 cr vs Rs 1.48 cr, helped by Rs 6.65 cr exceptional debt settlement gain. Board approved Rs 50 cr investment in related party Level Enterprises LLP (Mumbai land developer), targeting 51% stake. Auditor raised going concern doubts and issued disclaimer of opinion, citing ceased operations, inventory valuation issues, and internal control weaknesses. Total debt in default at Rs 64.19 cr.
Auditor disclaimer of opinion and going concern flag raise serious doubts about company viability. Negative sentiment likely for stock.