Financial Results March 31, 2026
Price
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Awaiting price reaction for this filing.
The company reported a massive loss of Rs. 866.30 lakhs before tax for FY26, a sharp decline from a profit of Rs. 135.29 lakhs in FY25. Revenue from operations dropped to Rs. 54.29 lakhs from Rs. 5,089 lakhs previously, though this dramatic fall requires verification as the document formatting may be inconsistent. The auditors issued a qualified opinion due to inventory valuation issues - inventories of Rs. 50.40 lakhs were carried at cost instead of lower of cost or net realizable value. This is the eighth consecutive qualification on this matter. Critically, the auditors raised a going concern warning stating the company has incurred huge losses, written off receivables of Rs. 404 lakhs, and its net worth has been drastically eroded with negative shareholders' equity of Rs. 510.21 lakhs. Total assets halved to Rs. 1,991.37 lakhs from Rs. 3,016.29 lakhs.
This is a highly distressed result with negative net worth and auditor warnings about the company's ability to continue as a going concern. The stock faces significant risk as the company is essentially insolvent on a book value basis. Existing shareholders and creditors should be extremely cautious.