Pursuant to Regulations 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the meeting ....
Awaiting price reaction for this filing.
Redmax Footwears Limited (Scrip: 537524) reported a net loss of Rs 16.97 lakhs for FY 2026, significantly improved from Rs 32.14 lakhs loss in FY 2025. Revenue from operations dropped to zero from Rs 2.20 lakhs previously. The company has undergone a name change from Viaan Industries Limited to Redmax Footwears Limited, approved by MCA in May 2025. The statutory auditor Ashwani & Associates issued an unmodified opinion but noted that the audit trail (edit log) feature of the accounting software was not operating effectively throughout the year. Operating cash flow was significantly negative at Rs 23 lakhs, while cash and cash equivalents collapsed to just Rs 0.18 lakhs from Rs 12.05 lakhs. Trading in the company's shares remains temporarily suspended.
The company continues to burn cash with essentially zero revenue, raising serious going concern doubts despite reduced losses. Shareholders face continued uncertainty given the suspended trading status and thin cash reserves. The auditor's qualification on audit trail integrity also raises internal control concerns.