Pursuant to the provisions of Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 With reference to our intimation ....
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Starlit Power Systems Ltd held its Board meeting on May 25, 2026 to consider audited financial results for Q4 and FY ended March 31, 2026. The company reported total income of Rs 43.41 lakh for Q4 but faced significant expenses of Rs 1,335.86 lakh, resulting in a net loss of Rs 374.34 lakh for the quarter. For the full year, total income was Rs 43.42 lakh against total expenses of Rs 1,342.39 lakh, leading to a net loss of Rs 1,742.58 lakh. The auditor issued a qualified opinion stating the financial statements may not give a true and fair view due to non-provision of interest on loans and non-compliance with Ind AS. The auditors also noted internal financial controls deficiencies, non-maintenance of audit trail software, and investments exceeding Section 186 limits. Cash losses for the year stood at Rs 1,658.83 lakh.
The company is reporting substantial losses with auditor concerns about financial statement accuracy and compliance. Shareholders should note the qualified audit opinion and the company's non-compliance with accounting standards, which raises red flags about the reliability of reported financials and potential regulatory risks.