Financial results for the quarter ended on 31.12.2024
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Noble Polymers Ltd has submitted its unaudited financial results for the quarter ended 31 December 2024, along with results for the period from 30 June 2022 onwards, indicating significant delays in previous quarterly filings. Revenue from operations for the quarter was Rs 42.03 lakhs with the company reporting a marginal profit of Rs 0.52 lakhs compared to a loss of Rs 2.28 lakhs in the previous comparable period. The results have been approved along with a limited review report from M/s R B Gohil & Co, Chartered Accountants, who were appointed as statutory auditors in a casual vacancy on 6 March 2025, replacing the previous auditor. R B Gohil & Co issued a clean (unqualified) limited review report with no qualifications or adverse observations.
The change of statutory auditors mid-year (casual vacancy appointment) and the bulk approval of multiple quarters' worth of results (from June 2022 to December 2024) at once signals governance and compliance concerns that retail investors should monitor closely. Revenue is very small (around Rs 42 lakhs for the quarter), which raises questions about scale and long-term viability of the business.