Q1 FY27 results approved; auditor flags qualified opinion
MADHUCON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved Q1 FY27 (Jun 2026) standalone and consolidated results. Revenue fell sharply to Rs 2,778.66 lakhs versus Rs 13,517.60 lakhs year ago. Loss before tax was Rs 135.86 lakhs; PAT was Rs 36.48 lakhs due to deferred tax. Auditor gave qualified conclusion citing uncertainty over investment values in subsidiaries, PNB loan classified as NPA, bank guarantee invocations, and unpaid statutory dues. Multiple step-down subsidiaries face going concern issues and CIRP proceedings. New statutory auditors M/s B. Narsing Rao and Co LLP appointed for 3 years. 36th AGM fixed for September 29, 2026.
Sharp revenue fall, qualified auditor opinion, and multiple subsidiaries under financial stress raise red flags. Director and auditor changes also noteworthy.