Audited Financial Results for the year ended 31st March, 2026
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Newtrac Foods & Beverages Ltd reported a net loss of Rs 637 Lakhs for FY 2025-26, a sharp reversal from a profit of Rs 252 Lakhs in the previous year. Revenue from operations was Rs 6,408 Lakhs. The company's total equity halved from Rs 1,118 Lakhs to Rs 481 Lakhs, indicating significant erosion of shareholder value. Trade receivables doubled to Rs 1,964 Lakhs from Rs 583 Lakhs, raising concerns about asset quality. The statutory auditor NKSC & Co. resigned mid-term after being appointed only in June 2025, and a new auditor was appointed from June 1, 2026. Critically, the outgoing auditor issued a disclaimer of opinion citing inability to obtain sufficient audit evidence, as management failed to provide loan agreements, receivables confirmations, and invoices. However, the company separately submitted a declaration stating the auditor issued an unmodified opinion, which contradicts the audit report itself.
The disclaimer of opinion is a major red flag for investors, as it signals the financial statements may not be reliable. The significant loss, equity erosion, and auditor resignation mid-term compound governance concerns. The contradiction between the declared unmodified opinion and the actual disclaimer of opinion is a serious regulatory issue.