Approval of Audited Financial Results for the period ended March 31, 2026.
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The company reported total income of Rs. 7,387.12 lakhs for FY26, a massive jump from Rs. 21.63 lakhs in FY25. Net profit after tax improved significantly to Rs. 226.60 lakhs versus Rs. 118.85 lakhs in the prior year. Basic EPS increased from Rs. 1.12 to Rs. 3.33. The company converted 6.07 crore warrants into equity shares and raised Rs. 3,032.52 lakhs through preferential issues. However, the auditors raised concerns about missing balance confirmations and reconciliation statements for trade receivables and payables, insufficient inventory valuation documentation, unconfirmed supplier advances, and loans without proper agreements. The company also failed to appoint an internal auditor for FY25-26, which is a regulatory non-compliance. Operating cash flow was significantly negative at Rs. 8,567.66 lakhs.
Despite strong revenue and profit growth, multiple auditor qualifications regarding missing documentation and the company's failure to appoint an internal auditor raise concerns about financial controls. The large negative operating cash flow despite profitability warrants caution for investors.