Auditor flags qualified opinion on FY25 results over subsidiary losses

Qualified OpinionRelated Party TransactionsPat NegativeResults View source PDF

MADHAV · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Auditor gave a qualified opinion on Madhav Marbles FY25 standalone and consolidated results. Two subsidiaries (Madhav Ashok Ventures and Madhav Natural Stone) and one associate (Madhav Surfaces FZC Oman) have fully eroded net worth, but no impairment assessment was done on about Rs 40 crore of loans and investments. One subsidiary triggers NBFC rules but lacks RBI registration. Standalone net profit Rs 75 lakh; consolidated net loss Rs 1.48 crore.

Likely market impact

Red flag on subsidiary health. Risk of future write-offs if impairment is eventually recognized; consolidated books already in loss.