Pursuant to Regulation 33(3)d of SEBI(LODR)2015 we hereby confirm and declare that the statutory auditor of the company have issued Limited review report with unmodified opinion on Unaudited ....
Awaiting price reaction for this filing.
Shree Narmada Aluminium Industries (BSE: 513127) reported Q1 FY26 (quarter ended June 30, 2025) results showing a loss of Rs 1.32 lakhs, narrower than the Rs 9.71 lakh loss in Q1 FY25 but still negative. Revenue from operations and total income figures were very small, consistent with the company's primarily aluminium trading business. The full FY25 (year ended March 31, 2025) showed a profit of Rs 27.82 lakhs. The statutory auditor SVH & Associates issued a limited review report that the company declared as 'unmodified,' but the report itself includes a clear qualification paragraph flagging that net worth is fully eroded and significant doubt exists about the company's ability to continue as a going concern — a repetitive qualification over many years. The auditor also noted that the factory at Bharuch remains under court receiver possession following a secured creditor's action. On the positive side, the rehabilitation scheme approved by the Gujarat High Court in 2008 has now been finally confirmed by the Supreme Court (order dated Aug 4, 2025), ending years of legal uncertainty. Operating cash flow was negative at Rs (1.49) lakhs.
This is a high-risk, micro-cap stock for retail investors. Despite a narrower quarterly loss, the going-concern qualification, fully eroded net worth, factory under court receiver, and negative operating cash flow make the business fundamentally fragile. The Supreme Court confirmation of the rehabilitation scheme is a positive legal milestone, but does not by itself resolve operational or financial sustainability. Expect high volatility and low liquidity; treat as a speculative bet only.