Pursuant to Regulation 30 read with Regulation 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Infronics Systems Ltd held its Board Meeting on May 29, 2026, approving the audited financial results for Q4 and FY ended March 31, 2026. The statutory auditor R Subramanian and Company LLP issued a Disclaimer of Opinion, citing material uncertainty about the company's ability to continue as a going concern. Key concerns include: three bank accounts frozen due to ongoing legal proceedings related to a Rs. 12.05 crore claim from Mudunuru Limited; no active revenue-generating business as BSNL contracts were not renewed; and negative operating cash flow of Rs. 55.32 Lakhs. FY2026 total income collapsed to Rs. 3.10 Lakhs from Rs. 237.42 Lakhs in FY2025, with the company reporting a loss of Rs. 74.56 Lakhs. The company also appointed Mr. Arihant Jain as Company Secretary and Compliance Officer, and M/s N R G & Co as Internal Auditor for FY2026-27.
This is a highly negative development for shareholders. The company has essentially ceased revenue-generating operations, carries a massive contingent liability, and auditors have disclaimed opinion citing going concern doubts. The stock faces significant risk given the frozen bank accounts, legal disputes, and lack of business operations.