Declaration regarding Statement on Impact of Audit Qualification on the Standalone and Consolidated Financial Results for the financial year ended 31st March 2026
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Awaiting price reaction for this filing.
Malt Land Distilleries Ltd (formerly Abhijit Trading Co.) has filed a statement on the impact of audit qualifications for FY26. The auditor issued a 'Disclaimer of Opinion' on both standalone and consolidated results, noting two issues: the company did not maintain accounting software with an audit trail feature as required, and the standalone financial statements do not comply with Indian Accounting Standards under Section 133 of the Companies Act. These qualifications are repetitive, meaning they appeared in prior years as well. For FY26, the company reported a turnover of only Rs 91.05 lakhs but a massive net loss of Rs 5,906.75 lakhs, against total assets of Rs 3,76,711.29 lakhs and net worth of Rs 64,854 lakhs. Management says it is actively working to address the auditor's concerns.
This is a serious red flag — a 'Disclaimer of Opinion' means the auditor was unable to confirm that the financial statements give a true and fair picture. Combined with a huge net loss and repeated qualifications on accounting standards and audit trail compliance, shareholders should treat these numbers with significant caution, as they may not be fully reliable and could weigh on the stock.