Submission of audited financials results for the quarter and year ended on 31st March, 2026
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Awaiting price reaction for this filing.
Manraj Housing Finance reported a severe loss of INR 47.97 lakhs for FY26, compared to a profit of INR 33.64 lakhs in the previous year. Revenue collapsed to INR 4.29 lakhs from INR 54.29 lakhs, down over 92%. The company has negative net worth of INR -74.96 lakhs and has not operated for over 3 years. The statutory auditor issued an ADVERSE opinion citing critical concerns: over 99% of company assets are advances to related parties currently attached by the Enforcement Directorate under PMLA investigation, approximately 65% of liabilities are unsecured loans from related parties, and the company has defaulted on bank borrowings of INR 687.03 lakhs with unprovided interest of approximately INR 711 lakhs. The auditor explicitly questioned the company's ability to continue as a going concern.
This is an extremely negative development. The adverse auditor opinion, negative net worth, massive related party exposure to ED-attached assets, and bank default indicate the company is in severe financial distress. Shareholders face extreme risk of value destruction, and the stock carries significant regulatory and legal risks.