Results for the audited financial Half -yearly ended 31st March ,2026
Awaiting price reaction for this filing.
The company reported a near-total collapse in revenue, with total income at just Rs. 1 versus Rs. 2.06 crore in the previous year. Loss for the period narrowed to Rs. 82.07 lakhs from Rs. 129.71 lakhs, with EPS improving to -0.44 from -0.69. The auditor issued a qualified opinion and highlighted multiple serious concerns: loans and advances of Rs. 54.58 crores given in apparent violation of Sections 185/186, borrowings of Rs. 8.04 crores in violation of Sections 73-76, and no confirmations received for trade receivables of Rs. 14.84 crores. Cash and bank balance dropped sharply to just Rs. 59,225 from Rs. 9.29 lakhs. The company recorded cash losses during the year, and the auditor flagged that the accounting software lacks an Edit Log feature, weakening internal controls.
For shareholders, this is a deeply concerning filing. The near-zero revenue suggests business operations have essentially stopped, and the qualified opinion with multiple compliance violations (Sections 185, 186, 73-76, 188) and unconfirmed receivables raises serious red flags. The stock carries significant risk and the weak cash position limits operational flexibility.