Audited Financial Results for the quarter and Financial year ended March 31, 2025 along with copy of Audit Report and Statement on impact of Audit qualification
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Quadrant Televentures (Connect Broadband) reported audited FY25 results with a net loss of Rs. 27,629.68 lakhs, more than doubling the FY24 loss of Rs. 13,160.38 lakhs. Total income fell to Rs. 23,769.40 lakhs from Rs. 27,397.79 lakhs in the prior year. Accumulated losses now stand at Rs. 2,91,483.95 lakhs, completely eroding net worth (negative Rs. 2,84,675.68 lakhs). Current liabilities of Rs. 2,57,609 lakhs vastly exceed current assets of Rs. 5,346 lakhs. The auditor (SGN & Co.) issued a qualified opinion citing material uncertainty on going concern — financial creditors filed an IBC insolvency application on April 2, 2024 for Rs. 364.86 crores default, SARFAESI symbolic possession was taken in January 2025, and a scheduled e-auction on May 6, 2025 did not take place. An exceptional item of Rs. 13,526.13 lakhs was booked for an arbitration award, and Rs. 9,102.03 lakhs in retrospective interest was provided on AGR dues. FY24 figures were restated.
This filing reflects a company in deep financial distress with a qualified audit opinion, explicit going concern doubt, pending insolvency proceedings, and active SARFAESI enforcement. Shareholders face very high risk — equity is deeply negative, debt enforcement is underway, and the company's survival as a going concern is materially uncertain. The stock is extremely high risk.