OUTCOME OF THE BOARD OF DIRECTORS MEETING HELD ON AUGUST 13, 2025
Awaiting price reaction for this filing.
AVI Polymers' Board approved the unaudited standalone financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at Rs 0.00 lakhs and other income at Rs 0.00 lakhs, compared with Rs 6.43 lakhs and Rs 131.82 lakhs respectively in Q1 FY25. The company reported a small net loss of Rs 0.25 lakhs for the quarter versus a net profit of Rs 81.68 lakhs in the year-ago quarter. Total expenses were negligible at Rs 0.25 lakhs. The statutory auditor S K Bhavsar & Co. issued a limited review report with an unqualified/unmodified opinion but included an Emphasis of Matter flagging that trade receivables, trade payables, loans and advances, and investments are pending verification and supporting documentation. EPS for the quarter stood at (Rs 0.01).
The complete absence of operating revenue and other income this quarter raises serious questions about business activity and continuity. Shareholders should note the auditor's Emphasis of Matter on unverified receivables, payables, and investments, even though the overall opinion remains unqualified.