Audited Financial Results (Standalone and Consolidated)
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Awaiting price reaction for this filing.
Intec Capital reported a standalone total comprehensive income of just Rs. 28.70 lakhs and consolidated income of Rs. 20.58 lakhs for FY25, but the statutory auditor (S.P. Chopra & Co.) issued a Qualified Opinion for the 6th consecutive time. The qualification stems from Rs. 6,515.10 lakhs of accrued bank interest not being provided in the books. If accounted for, the standalone loss would balloon to Rs. 6,486.40 lakhs and consolidated loss to Rs. 6,494.52 lakhs, pushing net worth deep into negative territory (Rs. -2,936.17 lakhs standalone). The auditor also flagged a Material Uncertainty Related to Going Concern due to huge accumulated losses, halted lending operations, and defaults on bank borrowings. Management said all lender banks have accepted its One-Time Settlement (OTS) proposals and the company has substantially paid them, expecting an exceptional gain on debt extinguishment.
This is a deeply negative filing for shareholders — the qualified opinion and going concern flag confirm the company is financially distressed, its reported profits are illusory, and there is real doubt about its ability to continue operations. Stock price likely to face pressure, but successful OTS closure could provide a lifeline if the expected extinguishment gain materializes.