A copy of the financial statement along with updated cash flow statement under the indirect method and a statement on the impact of Audit Qualification is being submitted as query raised ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rajeswari Infrastructure Ltd has submitted its audited financial results for FY25 following a BSE query. The company, which was under Corporate Insolvency Resolution Process (CIRP) since May 2023, had its Resolution Plan approved by NCLT in January 2026. The current auditor KMKU & Associates has issued a Disclaimer of Opinion, stating they cannot provide an audit opinion due to lack of sufficient appropriate audit evidence. The company reported total income of Rs. 5.02 lakhs for Q4 and Rs. 5.08 lakhs for FY25, with a net loss of Rs. 9.11 lakhs for FY25. Total equity stands deeply negative at Rs. 78.02 lakhs. The auditor has identified multiple issues including non-verification of assets and inventories, improper treatment of CIRP liabilities (Rs. 35.34 crores classified as contingent instead of provision), and quantified that net loss is understated by Rs. 22.65 crores. The predecessor auditor had also issued a Qualified Opinion for FY24. The auditor reserved comment on whether the going concern basis of accounting is appropriate.
This is a highly concerning filing. The Disclaimer of Opinion, deeply negative equity, and quantified understatement of Rs. 22.65 crores in losses indicate severe financial distress. Despite the Resolution Plan approval, the audit disclaimers suggest the financial statements may not reliably reflect the company's true financial position. Shareholders should be extremely cautious as the company remains fundamentally unstable with ongoing CIRP-related uncertainties.