Re-submission of un-audited financial results along with the Limited Review Report for the first quarter ended June 30, 2025 and second quarter and half year ended September 30, 2025
Awaiting price reaction for this filing.
Neogem India has re-submitted its unaudited quarterly and half-yearly results to BSE after it accidentally left out the auditor's review report in its earlier December 9 filing. The company reported a small loss of about Rs. 8.2 lakh in Q1 FY26 and Rs. 16.8 lakh in Q2 FY26. Its net worth is deeply negative at around Rs. 35.8–35.9 crore. The auditor (Ashok Bairagra & Associates) issued an Adverse Opinion and a Disclaimer of Opinion on the results, citing the company's inability to repay liabilities, a fully eroded net worth, factory operations shut since January 2018, and unconfirmed old receivables of Rs. 41.1 crore. Bank borrowings from Punjab National Bank (Rs. 10 crore) and Bank of India (Rs. 5 crore) have been classified as non-performing assets since 2016, with SARFAESI recovery action already initiated by PNB. The auditor has flagged a material uncertainty on the company's ability to continue as a going concern, noting the net worth would be fully wiped out if all provisions are made.
This is a deeply negative filing for shareholders. The auditor has issued an Adverse Opinion and Disclaimer, which is rare and signals serious financial distress. With manufacturing halted since 2018, negative net worth, frozen bank accounts, and NPA-tagged loans, the stock carries very high risk of further value erosion or even delisting. Investors should treat this as a strong warning sign.