Please find enclosed herewith audited financial result for the year and quarter ended 31st March 2025.
Awaiting price reaction for this filing.
Atcom Technologies filed its audited FY25 and Q4 results. The auditor (Gada Chheda & Co LLP) issued a Disclaimer of Opinion on standalone results and a Qualified Opinion on consolidated results — the worst kind of audit outcomes. The company has accumulated losses and its net worth is substantially (standalone) to completely (consolidated) eroded. There is material uncertainty about the company's ability to continue as a going concern; the group has filed a scheme of rearrangement/compromise with the NCLT. The company has defaulted on bank dues totalling roughly ₹9,260 lakhs across lenders including IFCI (₹3,543 lakhs), Dena Bank (₹1,585 lakhs), SBI (₹1,087 lakhs), SBP (₹974 lakhs), IDBI (₹867 lakhs), UTI Bank (₹732 lakhs), SICOM (₹465 lakhs) and NCDs (₹507 lakhs), many of which have been assigned to ARCs. Bank finance has been recalled, bank accounts attached by the Income Tax department, and statutory/customs dues (over ₹45 lakhs of customs duty alone from 2006-07) remain unpaid. The note from management claims 'no adverse comment in the Audit Report', which contradicts the auditor's actual Disclaimer/Qualified opinions.
This is a deeply distressed filing. Shareholders face a real risk that the company may not survive as a going concern outside of an NCLT restructuring. The auditor disclaiming opinion means the financial numbers cannot be relied upon, and the scale of bank defaults plus eroded net worth makes this a high-risk, potentially loss-making situation for shareholders.