outcome of bm to approve audited financial results for the year ended 31.3.2026
Awaiting price reaction for this filing.
The Board approved audited financial results for the year ended March 31, 2026. The company reported zero revenue from operations as its leather manufacturing plant is currently non-operational. Total income was just Rs. 1.50 lakh (other income), while total expenses were Rs. 16.00 lakh, resulting in a net loss of Rs. 14.50 lakh for the year. This is an improvement from the previous year's loss of Rs. 27.29 lakh. However, the company's net worth is severely negative at Rs. 1,299.33 lakh, and total borrowings stand at Rs. 1,300.38 lakh. The auditors issued an unmodified opinion but included a going concern emphasis. Cash and cash equivalents declined from Rs. 4.94 lakh to Rs. 1.78 lakh during the year.
The company is effectively insolvent with negative net worth and has ceased operations, raising serious doubts about its ability to continue as a going concern. While the loss narrowed year-on-year, the lack of any operating revenue and heavy debt burden make this stock extremely high-risk for investors.