Result-Limited Review report for the quarter ended June 2025
Awaiting price reaction for this filing.
Advance Syntex Ltd reported zero revenue from operations for Q1 FY26 as its business activities remain shut. The auditor issued an Adverse Opinion, stating the company is no longer a going concern, Ind-AS norms have not been followed, and the books do not present a true and fair view. Lender banks have classified the company as a Non-Performing Asset (NPA), recalled loans, and sold off all fixed assets and stock under the SARFAESI Act, leaving the fixed asset block at zero. The company posted a loss of Rs. 1,752.45 lakhs for the quarter (vs Rs. 52.30 lakhs loss in the previous quarter), with total comprehensive loss of Rs. 1,843.56 lakhs for the trailing twelve months. Exceptional items include a Rs. 277.87 lakh gain on sale of land & building, Rs. 257.25 lakh write-off of sundry debtors, and Rs. 178.43 lakh loan balance written off. Net worth is negative with severe liquidity constraints, and the audit qualifications are repetitive.
This is extremely negative for shareholders — the auditor has flagged the company as not a going concern, it has lost all operating assets, and is sitting on a negative net worth with large NPAs from banks. The stock is effectively a distressed shell with near-zero chance of business revival, and shareholders should expect very high risk of total loss of value.