Pursuant to Regulation 33 of SEBI (LODR) Regulation 2015, we wish to submit the unaudited standalone Financial Results and limited review report issued by Statutory Auditor for the quarter ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The company reported negligible revenue of Rs. 0.03 lakh in Q2 and Rs. 0.06 lakh in H1, with a net loss of Rs. 3.05 lakh and Rs. 6.07 lakh respectively. The statutory auditor issued a DISCLAIMER OF OPINION rather than a standard limited review, citing inability to obtain sufficient audit evidence on opening balances, asset verification, inventory counts, and tax reconciliations. The predecessor auditor had issued a qualified opinion for FY2024 citing non-compliance with Ind AS 37 and 109, and lack of balance confirmations. The auditor noted that CIRP liabilities of Rs. 35.34 crore were incorrectly classified as contingent instead of being recognized as provisions—if properly recognized, the net loss would be Rs. 22.87 crore instead of Rs. 6.07 lakh. The company emerged from CIRP in January 2026 after approval of a resolution plan by NCLT. Negative other equity stands at Rs. 637.17 lakh, indicating eroded net worth.
This filing reveals extreme financial distress with a disclaimer from auditors, substantial misclassification of liabilities, and eroded shareholder equity. Investors should be highly cautious as the credibility of reported financials is severely compromised by the auditor's inability to verify balances and the ongoing accounting standard non-compliance.