Q1 FY27 results: Rs 290.70 crore GST demand flagged in qualified opinion

Qualified audit opinionRevenue declinedContingent liabilities increasedExceptional itemResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.5%Reaction day

₹3.29

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-1.6% vs market

Aluminium Copper & Zinc Products peers, median of 9sector-1.2%-0.3% vs sector

On the reaction day the stock moved 1.6 pts less than Nifty Microcap 250 and 0.3 pts less than its Aluminium Copper & Zinc Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Aluminium Copper & Zinc Products peers, median of 9Pending

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AI summary

Q1 FY27 revenue fell about 30 percent YoY to Rs 5,195 lakhs from Rs 7,388 lakhs. PAT swung to Rs 39 lakh profit from Rs 199 lakh loss. A GST demand of Rs 290.70 crores (with interest and penalty) on alleged ineligible input credit is under appeal. Auditor issued a qualified opinion due to uncertainty over this demand, which is over 10 times the company's equity capital of Rs 27.65 crores. Income tax demand of Rs 10.68 crores also under appeal. Board fixed AGM for September 28, 2026.

Likely market impact

Massive Rs 290.70 cr GST demand (over 10x equity cap) is a major overhang despite profit swing. Watch legal outcome.