Outcome of board meeting under regulation 30 read with 33 (3) (c) of SEBI (Listing Obligations and Disclosure requirements) regulations, 2015
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The board, meeting on June 14, 2025, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, along with cash flow statements and balance sheet. The board also appointed M/s. M G S Reddy and Co as Internal Auditors for FY 2025-26 and M/s. Dabas S & Co as Secretarial Auditors for a five-year term (FY 2025-26 to 2029-30). Notably, the company filed a declaration claiming an 'unmodified/unqualified' opinion from statutory auditors J Singh & Associates, but the actual auditor's report contains a 'Qualified Opinion' due to pending confirmation and reconciliation of certain trade receivables and payables, with no provision made for long-outstanding balances. Consolidated total assets grew to Rs. 26,546.04 lakhs (from Rs. 20,149.15 lakhs), but operating cash flow turned sharply negative at Rs. (2,171.87) lakhs versus Rs. 583.71 lakhs in the prior year.
Shareholders should note a key discrepancy: the company publicly stated the auditor gave an 'unmodified opinion,' but the audit report itself is qualified on unresolved trade receivables/payables confirmations, which could conceal further losses. The sharp swing to negative operating cash flow and the auditor's qualification are red flags that may weigh on investor confidence and stock sentiment.