This is to inform you that the Board of Directors of North Eastern Carrying Corporation Limited at their Meeting held today, Friday, May 29, 2026, has consider and approved the Audited ....
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North Eastern Carrying Corporation Limited reported audited results for FY 2025-26 ending March 31, 2026. Revenue from operations declined to Rs 30,804.38 Lakhs from Rs 32,872.47 Lakhs in the previous year (approximately 6.3% decline). Profit After Tax (PAT) fell to Rs 775.07 Lakhs from Rs 1,025.25 Lakhs, representing a ~24.4% decline. The statutory auditor issued a qualified opinion citing: (1) non-provision for doubtful debts despite trade receivables of Rs 13,014.53 Lakhs, and (2) unconfirmed debit/credit balances. This is the 7th consecutive repetitive qualification. The company also reported negative operating cash flow of Rs (900.76) Lakhs. Finance costs increased significantly to Rs 930.75 Lakhs from Rs 707.82 Lakhs. Management contends debtors are fully realizable and confirmation process is ongoing.
The qualified auditor opinion raises concerns about receivable quality and financial controls. Revenue and profit both declined year-on-year, and the repetitive nature of audit qualifications over 7 years signals ongoing governance issues. Negative operating cash flow combined with rising debt levels warrants caution for investors.