outcome of Results 30/09/2025
Awaiting price reaction for this filing.
Advance Syntex Ltd (BSE: 539982), a Vadodara-based glitter and metallised film maker, reported virtually no revenue from operations for Q2 FY26 (ended 30 Sept 2025), with the business appearing effectively shut down. The company posted a loss of ₹56.70 lakhs for the quarter and its net worth is deeply negative at ₹(1,298.68) lakhs. Critically, the auditor VRAJM & Associates issued an ADVERSE opinion, contradicting the company's separate declaration of an 'unmodified opinion.' The auditor flagged that going concern is not sustainable, fixed assets block is zero (Axis Bank sold all assets under SARFAESI Act), the company is classified NPA by lenders, IND AS provisions were not followed (no 100% provision on doubtful trade receivables of ₹994.33 lakhs), and balances are unreconciled.
This is a severe red flag for shareholders. The company is essentially a defunct shell with negative net worth, zero fixed assets, NPA status, and an adverse audit opinion contradicting management's own filing. Investors should treat this stock as extremely high-risk; expect continued price pressure, possible delisting concerns, and very low probability of any recovery for equity holders who rank below lenders.