Results - Financials for quarter ended June 30, 2025
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Naksh Precious Metals (formerly Vaksons Automobiles) reported Q1 FY26 revenue from operations of Rs. 32.26 lakhs, down from Rs. 53.02 lakhs in Q1 FY25 — a roughly 39% year-on-year decline. Net profit stood at Rs. 79 lakhs (Rs. 7.79 lakhs), marginally higher than Rs. 7.71 lakhs in the same quarter last year. EPS was Rs. 0.07, flat versus the year-ago quarter. The company recently incorporated a wholly-owned subsidiary, NAS Global Industries Private Limited (June 9, 2025), which has not yet started operations. The statutory auditor (DGMS & Co.) issued an unqualified limited review conclusion but flagged an Emphasis of Matter regarding Rs. 111.60 lakhs in cash-in-hand for which no supporting documentation (physical verification reports or bank withdrawal slips) was provided, raising concerns over the existence and accuracy of the reported cash balance.
The sharp drop in quarterly revenue signals weakening core business activity, though profits were sustained by lower expenses. The auditor's emphasis on undocumented cash holdings is a governance red flag that investors should monitor, as it may affect confidence in reported figures and future audit qualifications.