Qualified audit opinion on FY26 results; company slips into net loss
LAXMICOT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Clarified FY26 results after NSE query. Auditor issued a qualified opinion flagging: weak inventory records, loan to subsidiary without board approval, advance to a stressed creditor with no expected credit loss provision, land sale to subsidiary without registered deed, and no expected credit loss on aged receivables. Management says impact cannot be estimated; auditor disagrees. Consolidated net loss of Rs 120 lakh vs Rs 46 lakh profit last year. Revenue flat near Rs 154 crore. Earnings per share typo in XBRL filing corrected.
Qualified opinion and net loss raise concerns over accounting controls, recoverability of advances, and related party governance. Watch further disclosures.