PFA pdf
Awaiting price reaction for this filing.
Nutraplus India Ltd has filed its Q1 FY21 results (quarter ended June 30, 2020) with a massive delay of over 4 years, approved on September 21, 2024. The auditors from Raman S. Shah & Associates issued a Qualified Limited Review Report citing non-compliance with Companies Act 2013 and SEBI LODR Regulations regarding timely submission of results and limited review reports. The company also failed to provide necessary financial data on time, impairing the audit review. Financially, the quarter shows revenue of just Rs 0.91 lakh compared to Rs 3,158.56 lakh in the same quarter last year (Q1 FY20), representing a near-total collapse in operations. The company reported a net loss of Rs 127.90 lakh versus a profit of Rs 17.62 lakh in Q1 FY20. The company attributed the situation to the COVID-19 pandemic impacting operations in 2020-2021.
This filing raises serious red flags for investors. The 4-year delayed filing, qualified auditor opinion, and near-complete revenue collapse indicate severe operational distress and governance concerns. The stock may face significant regulatory scrutiny and selling pressure.