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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The company reported total income of Rs 148.50 Lacs for FY2026, up 138% from Rs 62.45 Lacs, driven primarily by interest income of Rs 104.52 Lacs. Net profit stood at Rs 1,05,964.56 Lacs compared to a loss of Rs 1,16,360.63 Lacs in the previous year. However, the balance sheet reveals severe financial distress with negative equity of Rs 8,185.49 Lacs. The auditor issued a qualified opinion citing non-provision of interest on loans and non-compliance with Ind AS 109 (Expected Credit Loss). The entire loan portfolio of Rs 1,05,583.46 Lacs has been fully impaired. The company has pending conversions of loans worth Rs 1,04,200 Lacs and borrowings worth Rs 1,16,298 Lacs into equity shares awaiting SEBI approval. The auditors noted material weaknesses in internal financial controls and failure to maintain audit trail features in accounting software.
The company has negative shareholders' equity indicating balance sheet insolvency. The qualified audit opinion and non-compliance with accounting standards raises serious concerns about financial statement reliability. Pending equity conversions may dilute existing shareholders significantly if approved by SEBI.