Pursuant to 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with schedule III of the said regulations, we inform you that the Board of Directors ....
Awaiting price reaction for this filing.
SecUR Credentials Ltd filed audited results for FY24 about 16 months late, with the auditor (S.D. Mehta & Co.) issuing a Qualified Opinion. Revenue from operations fell sharply to ₹2,812.89 lakhs from ₹5,001.33 lakhs in FY23 (a drop of ~44%), and the company swung from a net profit of ₹778.58 lakhs to a net loss of ₹245.50 lakhs. EPS turned negative at ₹(0.60) versus ₹1.90 previously. The auditor flagged 12 issues including ₹205.09 lakhs receivable from a director with no supporting documents (a related-party concern), ₹599.70 lakhs stuck in an old property advance with no expected credit loss provision, ₹331.26 lakhs of sundry creditors booked as income, and a SEBI interim order on alleged fictitious transactions with Varanium Cloud Ltd that led to a ₹235.76 lakhs sales reversal. The company admitted its shares are under trading suspension for non-payment of listing fees and roughly two years of missed SEBI LODR compliances, promoter holdings are zero since March 2022, and KMP holdings are frozen under SEBI orders.
This is a deeply negative filing: a qualified audit opinion, revenue collapse, swing to loss, multiple unresolved audit qualifications involving related-party and regulatory issues, ongoing SEBI investigation, and a suspended stock. Shareholders face significant uncertainty about recoverability of assets and future compliance, making this a high-risk situation despite positive operating cash flow of ₹456.86 lakhs.