PFA pdf
Awaiting price reaction for this filing.
Nutraplus India Ltd has submitted delayed quarterly financial results for Q2 FY24 (quarter ended September 30, 2023) in this filing. The company reported revenue of Rs 1.12 crore compared to just Rs 0.10 crore in the same quarter last year, showing a significant jump. However, the company posted a net loss of Rs 0.12 crore. The auditor issued a Qualified Limited Review Report citing non-compliance with listing requirements, including significant delays in submitting quarterly results and failure to provide necessary financial data for a comprehensive review. The auditor's Emphasis of Matter paragraph reveals the company lost all its Property, Plant and Equipment under the SARFAESI Act, 2002 after being declared a Non-Performing Asset in FY 2019-20, with the bank's auction process delayed due to COVID-19.
This is a highly distressed filing. The qualified audit opinion, loss of all operating assets, and ongoing regulatory non-compliance signal serious going concern risks. Shareholders should be extremely cautious as the company may face delisting risks and lacks the basic assets needed to continue operations.