Audited financial results as on 31.03.2026
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Manipal Finance Corporation Ltd reported audited financial results for FY 2026. The auditor issued a QUALIFIED OPINION due to serious going concern doubts. The company has incurred losses over the years with majority of funds blocked in Non-Performing Assets (NPAs). The auditor cannot comment on the ultimate realizability of company assets including PPE under lease, or the company's ability to settle liabilities. The company showed profit only due to exceptional income - without this, it would have incurred a loss. Additionally, the company stopped repayment of matured debentures and subordinated debts from July 2002. The audit qualification has been repetitive since 1999-2000, indicating a long-standing financial distress situation.
This is a highly distressed company with a persistent qualified audit opinion spanning over 25 years. The going concern doubt signals significant risk of insolvency or liquidation. Shareholders should exercise extreme caution as the company's ability to continue operations remains in serious doubt despite management's assertion to prepare accounts on a going concern basis.