Appointment of Secretarial Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Raconteur Global Resources Ltd reported a net loss of ₹6.75 Crore for FY2026 (standalone), a sharp reversal from ₹16.35 Lakh profit in FY2025. Total revenue surged to ₹7.84 Crore (from ₹0.51 Crore), driven by higher trading activity. However, expenses of ₹14.57 Crore far exceeded revenue. The statutory auditors issued a qualified opinion due to non-receipt of external balance confirmations and flagged a going concern uncertainty: unsecured loans payable of ₹60.16 Crore and loans/advances given of ₹69.47 Crore are substantial relative to net worth. Key audit matters include provision for doubtful loans of ₹7.34 Crore, write-back of old payables of ₹85.54 Lakh, and concentration of loans (80.86% of total assets) with the largest exposure of ₹54.20 Crore to Dhull Trading Private Limited (where a director holds a directorship). On a consolidated basis, the loss widened due to Raconteur Granite Limited selling its primary quarry asset (96.77% of RGL's assets) for ₹18 Crore vs book value of ₹31.24 Crore, resulting in a ₹13.24 Crore loss. The Board also appointed M/s Shailendra Roy & Associates as Secretarial Auditor for FY2025-26.
The company faces severe financial stress with massive losses, auditor qualifications, and going concern warnings. The subsidiary's asset sale and non-provision of depreciation create additional uncertainty. Shareholders should exercise caution given the material uncertainties flagged by auditors.